While the ever improving processing power and always-on broadband connectivity of the smartphone are the core assets, it has been interesting to see such widespread capabilities as the camera, GPS, and even audio jack used as hooks for newFinTech solutions.
New York is rolling into its third year operating the FinTech Innovation Lab which brings together a small group of selected early stage financial technology vendors with leading city banks, Accenture and venture capital firms for three months of intensive collaboration.
The FinTech Innovation Lab is operated through the Partnership for New York City Fund which was set up through 200 CEOs 15 years ago at the prompting of Henry Kravis.