The Investment Association (IA) recently opened applications for FinTech innovators to join Velocity, the IA’s specialist FinTech accelerator and innovation hub.

A year since its official launch, more than 120 FinTechs have joined the IA, with ten of these taking part in its accelerator programme. These firms highlight the global outlook of the UK’s FinTechs, with IA FinTech members operating in over 30 jurisdictions globally.

As the programme enters its second year, the IA has also welcomed five new member firms onto its  Velocity Advisory Panel, which will take part in the selection process for the third cohort, these include: Citi, Columbia Threadneedle Investments, GAM, Insight Investment Management and Wesleyan.

Chris Cummings, Chief Executive of the Investment Association, said: “On its first anniversary of its launch, Velocity is moving from strength to strength. Ten outstanding FinTechs have already taken part in the accelerator programme and we look forward to working with the next generation of innovators. That’s why today we’ve launched the hunt for the next cohort of cutting-edge FinTechs, who will drive innovation and ensure the UK investment management industry remains world-leading.”

Previous members of Velocity include AxeTrading, Blue Fire AI, Cube, HubX, Qwil Messenger, 9fin, Essentia Analytics, Hivemind, ResonanceX and Util.