A new accelerator programme aimed at financial services technology firms is hoping to encourage innovation in the sector and eventually lead to a shake up of the financial services industry.

The financial start-up programme is the first of its kind in Ireland, and is being run by NDRC in association with Bank of Ireland, Enterprise Ireland, Mediolanum and State Street.

Ten early stage firms will be recruited for the five week part-time programme, which kicks off in May. The companies will be given access to mentors from the sector, tech entrepreneurs and investment figures as part of the scheme.

Startups looking to join the programme can focus on any area of financial services where a new technology product could solve an existing problem.

NDRC chief executive Ben Hurley said the programme would harness the best ideas from those interested in the financial services industry, and help create dynamic, sector-changing tech companies.

“NDRC has track record of making ventures happen by enabling startups to get off the ground and our programme co-founders know what it takes to be successful in the financial services sector,” he said. “These organisations’ rich heritage in financial services will be utilised to develop new ventures who not only know the financial services industry but have a vision of where there are opportunities for change.”

Applications close on May 2nd.