Amazon Web Services (AWS) has launched the AWS Global Fintech Accelerator program, inviting fintech startups to apply for a six-week program aimed at scaling their businesses through the use of AI and ML solutions. The program will select up to 150 startups from North America, Europe, the Middle East, Africa, and Latin America. With the fintech industry expected to grow to $1.5 trillion by 2030, AWS recognizes the potential of generative AI to transform the customer experience in financial services. Through the accelerator, AWS aims to democratize access to AI and ML tools, helping fintech startups reach and satisfy the increasingly demanding expectations of customers.
The AWS Global Fintech Accelerator offers selected startups direct mentorship, access to specialized resources, and new technologies. In partnership with NVIDIA, the program will provide startups with the opportunity to leverage AI computing tools to develop innovative financial services. The top 15 startups from the program will have the chance to present their products and services to potential investors and customers on a Demo Day, receiving additional AWS Activate credits. The accelerator program not only supports fintech innovation but also addresses the desire for “cheaper, greener, and decentralized access to finance“.
Consumer expectations in financial services are evolving, and fintech companies must harness the power of AI and ML to meet these demands. From hyper-personalization to risk management and workflow automation, AI and ML play a vital role in driving success across the customer journey. With the vast amount of data available through open finance and connected devices, combined with the accessibility of cloud-based infrastructure, fintech startups have the opportunity to revolutionize the industry.
The deadline to apply for the accelerator program is August 14, 2023, and selected startups will participate in the remote program from September 18 to October 23, 2023.