Fintech ‘pledge’ signed by Fidelity

The pledge is part of a wider strategy to accelerate the growth of the UK’s fintech sector through the promotion of partnerships between financial institutions and tech startups.

Signatories commit to the pledge’s five principles, the first of which is to provide clear guidance to technology firms on how the onboarding process works through a dedicated online landing page.

The other principles require signatories to provide clarity to tech start-up firms on their progress through the onboarding process; provide a named contact, guidance and feedback; encourage good practice and improvement; and lastly, commit to implementing this process six months from signing the pledge and providing bi-annual feedback in the first year.

The asset manager has a dedicated venture capital team that invests in fintech businesses and technologies, called Fidelity International Strategic Ventures.

It already has a number of fintech partnerships underway, including with compliance technology and data analytics firm SteelEye.

Fidelity International has also partnered with digital investment platform Moonfare, which sees it provide access to private market strategies for Fidelity’s institutional and wholesale clients.

Alokik Advani, managing partner at Fidelity International Strategic Ventures, said: “Engaging with start-ups is a vital component for our business and allows us to continue to drive forward our efforts to incorporate technological innovations for our clients.

“We will continue to embrace new and exciting technologies and look forward to partnering with yet more start-ups in the future.”