MassChallenge

FinTech

FinTech

MassChallenge aims to cultivate and support meaningful partnerships between startups and enterprises to fuel innovation across banking, insurance, asset management, and many other financial sectors. By bringing FinTech’s most promising startups together with the financial sector’s most established organizations , we create opportunities to solve some of the industry’s most pressing challenges. 

 

Crucially, FinTech’s potential does not lie solely in advancing investment, transaction, or payment technologies. By expanding access and knowledge of financial products and services, FinTech has a significantly broader promise of impacting racial inequality, health and wealth among elderly populations, small business agility, and stronger financial literacy for teens and young adults. 

 

MassChallenge’s big-picture view on FinTech has attracted key partners like KPMG, MassMutual, and State Street  that have a collaborated on custom programs and specific industry difficulties. 

Ready to Talk?

Organizations interested in MassChallenge sourcing novel fintech solutions with potential to solve their innovation challenges.

FinTech-Related Programs

AgeTech

Accelerating senior living technologies to transform the aging population lives by leveraging innovative technologies and make their life easier with more tech-connected solutions.

 

FinTech Challenge Program

Identifying, fostering, and cultivating relevant opportunities for startup founders in the fintech space to expand their access to enterprise organizations, experts, and other fintech community members; enabling further innovation and development of their solution or product, within the financial services industry.

 

MITRE Social Innovation Mentorship Program

Designed to lower barriers for under-represented founders in the entrepreneurial ecosystem. The industry focus is on startups with solutions in Advanced Manufacturing, Artificial Intelligence (AI), BlueTech, Cybersecurity, or Digital Health.

 

IBM Mentorship Program for Underrepresented Founders

Expanding access to education, funding, and industry experts to support founders from historically underrepresented communities developing innovative solutions in artificial intelligence and cybersecurity

Subindustries & Challenge Areas

Past programs have focused on sourcing startups innovating with the following tech:

Startup Spotlight

Floodlight, a MassChallenge FinTech 2022 graduate, is a data platform focused on providing better ESG+ data to asset managers.  

 

Challenge

Today, the demand for quality ESG data is greater than ever, and new methods of collecting reliable and timely data are emerging. For example, the SEC has signaled its intention to create rules and reporting standards to promote consistent, comparable, and reliable information, while investors are optimizing ESG strategies to maximize value and increase profitability. 

 

Solution 

KPMG, a 2022 MC FinTech Challenge Partner, and Floodlight recently collaborated to determine whether Floodlight’s extensive greenhouse gas (GHG) emissions data could be used to reduce the time KPMG professionals needed to complete a GHG assessment. The use of Floodlight i

Results 

Beyond the improvement in delivery time (~90%), Floodlight also provides verifiable GHG data collected through scientific instruments instead of company-reported data. The due diligence process becomes not only faster but more robust and KPMG clients can therefore be more confident in their reporting process and protocols.