US-based FinTech firm InvestCloud is set to launch a financial technology incubator and accelerator at its European headquarters in London.

InvestCloud Innovation Center London, to open in Summer 2017, will offer both new startups and established financial firms the ability to quickly deliver digital wealth management solutions supported by the InvestCloud platform.

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The 9,302-square-foot venue will follow the blueprint of the firm’s first technology accelerator at its Los Angeles headquarters. Members will have access to their own InvestCloud Sandbox, allowing access to the 200+ InvestCloud financial Apps, over 2,000 APIs, integrated market data, news, financial and accounting data, a document repository and InvestCloud’s method of development.

Firms will be able to create sub-teams from their own organisation, or use InvestCloud’s staff and external partners. In addition, they will have access to InvestCloud’s Programs Writing Programs (PWP) to self-generate lines of code and to its Digital Warehouse technology to provide real-time insight and information.

Rajesh Agrawal, London’s deputy mayor for business, said at an event jointly hosted by the British-American Business Council Los Angeles and InvestCloud at its Los Angeles Innovation Center on 23 June: “InvestCloud’s decision to launch a FinTech incubator and accelerator in the heart of our great city is further evidence that London is open for business and innovation.

“As a FinTech entrepreneur, I know from experience London is the ideal location to grow a start-up, with an unrivalled talent pool and a time zone, which overlaps with other financial centres, among many other advantages.”

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John Wise, co-founder and CEO of InvestCloud, said: “By sharing our technology and expertise with financial institutions and startups in the UK, and London specifically, we can help them deliver the digital solutions their clients want.

“It’s no secret that the financial services industry is behind the curve when it comes to digital. Many projects cost millions only to be scrapped, and the failure rates for startups are incredibly high. InvestCloud’s Innovation Centers ensure success for these projects – allowing teams to innovate and ideate quickly, drawing on the experience of the Innovation Center team and the wealth of capability within the InvestCloud app library.”

Applications are now being accepted for the InvestCloud Innovation Center.