London, U.K.-based Barclays Capital PLC is vying to be at the forefront of financial technology (fintech) research and development with the launch of a new co-working space for fintech in London.
The site, Rise London, which officially opened its doors Tuesday, aims to bring together more than 40 fintech and venture capital firms under one roof.
This opening marks the culmination of Barclays’ latest efforts through Rise, its global platform focused on engaging fintech firms to come up with new solutions as the financial services sector grapples with the disruptive potential of new technologies, such as blockchain and artificial intelligence.
“Fintech startups are at the front of the technology wave that is changing our industry,” says Jes Staley, group CEO of Barclays, in a statement. “Through Rise, we glean important insights; we can actively experiment with emerging technologies, and we can spot early trends and new markets as they form.”
Apart from playing matchmaker to fintech and financial services firms, Rise London plans to hold a series of monthly workshops, hackathons and networking events.
So far, some 70 deals have been brokered between Barclays and fintech firms through the Rise platform.