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Amazon Web Services has launched the AWS Global Fintech Accelerator program. The first-ever cohort will select 150 fintech startups harnessing the power of artificial intelligence (AI) and machine learning (ML) technology from across North America (NAMER), Europe, Middle East, Africa (EMEA), and Latin America (LATAM). Applications for the accelerator are open today and will be accepted until August 14.
Today, fintech is an economic powerhouse and innovation engine that is projected to grow from $134 billion to $1.5 trillion by the year 2030, according to the latest research from BCG—on par with enterprise banking and financial services.
"We are making big bets on the potential of generative AI to significantly change every customer experience out there, especially as it relates to financial services," said Howard Wright, VP and Global Head of Startups. "In the long term, we expect generative AI to usher in the era of self-driving money, when every consumer with a smartphone can have access to an affordable, trusted financial advisor that will help them improve their financial health. These solutions will leverage what the cloud does best: it democratizes access for everyone."
“More and more consumers want a future when access to finance is cheaper, greener, and decentralized," said Sam Edge, Global Head of Fintech for Startups at AWS. "Arming fintech startups with powerful artificial intelligence and machine learning tools will unlock new opportunities for them to reach and delight these ever-demanding customers—that is the goal of this program.”
