Nordea looks for AI and blockchain in new accelerator

Swedish financial services group Nordea is selecting startups for its second accelerator programme from a long list of 35 teams.

Taking place in Stockholm and Helsinki, the programme will run over the course of 12 weeks and allow startups to develop products alongside Nordea and its partners including Tata Consultancy Services (TCS) and IBM.

The long-list of 35 teams was picked from more than 200 entrants. Among the finalists are startups from the US, Russia, Singapore and India, as well as Sweden, Norway, Denmark and Finland.

Nordea says that this year it is putting particular focus on emerging technologies such as artificial intelligence and blockchain.

“This time, Nordea Startup Accelerator is focusing on ideas in new technology such as cognitive computing, artificial intelligence and blockchain technology. But, we are also interested in other areas, where new technology can help us offer better services to our customers,” said the company’s head of experimentation and learning, Jan Sirich.

The previous batch of startups taken through Nordea’s accelerator each received €600,000 ($786,00) and the bank continued to work with two of the firms, Jenny and Fellingstream, after the 12 weeks.

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