JPMorgan opens Fintech Forward accelerator in UK

Simon Dawson/Bloomberg

JPMorganChase is accepting applications for a new fintech accelerator program for startup founders in the U.K.

The Fintech Forward accelerator, developed by JPMorganChase and U.K.-based consulting firm EY, is a 12-week in-person and virtual program for founders applying technology to create scalable solutions within financial services.

Applications for the accelerator opened May 26 and will close on June 27. The program will run from September to November of 2025.

Successful applicants receive access to mentorship from bank executives, a two-day offsite at JPMorganChase’s technology center in Glasgow and opportunities to showcase their business to potential investors and commercial partners.

The accelerator is targeting U.K. fintech candidates with a “live product demonstrating market traction” and annual revenues not exceeding £1 million, according to the program’s website.

“At JPMorgan Payments, our north star is to improve the payments ecosystem and transform the movement of information, money and assets,” said Veronique Steiner, head of EMEA innovation economy at JPMorgan Payments. “We’re actively encouraging applications from founders or business leaders who are overcoming obstacles to growing a business, including a lack of proximity to funding and networks, and are addressing the needs of underserved consumers, businesses or communities.”

A research report published by EY on Monday said that the U.K. “continues to be Europe’s most attractive destination for foreign direct investment into financial services, despite a drop in the number of projects across the region.”

The U.K. financial services sector “continues to capture global investor confidence, particularly as they navigate challenging market conditions,” said Martina Keane, EY’s managing partner for the U.K. and Ireland.

Future success rests on factors such as growing the attractiveness of the U.K.’s financial services sector on the global stage, Keane said.

“To do this, we must build on our inherent strengths and prioritize progressive regulation, innovation and the continued establishment of key international trade relationships,” she said.

The office of the Lord Mayor of London has also highlighted the need for funding and support for U.K. fintech startups.

“The U.K. is the third most attractive destination for investing in AI and tech in the world after the U.S. and China, specifically as a home for startups,” Jason Esi, internal communications officer for the City of London Corporation, told American Banker in a previous interview. “When startups scale up in the U.K., what has happened is that when they need money, they tend to move to the U.S. to get that funding.”

Lord Mayor Alastair King expressed similar sentiments about the need for fintech startup funding in the U.K.

“We must start funding our own fintechs,” King told American Banker. “We have some startup businesses that are well financed because angels are investing, but we’re really bad at giving scale-up capital. Far too many really good, innovative British businesses in fintech are having to go off to America to get the funding they need. Therefore, we’re using my official residence, the Mansion House, to bring good U.K.-based fintech businesses in front of U.K.-based investors.”