Anthemis & Pivotal Innovations Launch API Labs at Level39

LONDON, February 11, 2014 /PRNewswire/ --

Product innovation in financial services

Anthemis Group and Pivotal Innovations UK, the teams behind innovations such as Zapp, Adeptra and the Level39 ecosystem, are pleased to announce the establishment of API Labs at Level39.  API Labs directly addresses the urgent need for the right kind of innovation in banking and financial services, and will connect both established and challenger organisations with innovators and emergent technologies. API enables collaborative innovation in the financial services sector through a unique platform, combined with extensive deep domain expertise to identify, rapidly develop and deliver new products, business models and solutions that change the way we bank and consume financial services.

API Labs will provide UK and international firms in the financial services sector with a neutral and collaborative external venue to incubate internal teams and ideas whilst increasing the speed to market of new solutions by engaging with startups, developers and designers. Located in the heart of Canary Wharf, London's dynamic international finance and banking hub,  API Labs will allow firms to  use an open innovation approach to solve some of the most pressing challenges facing banking and the financial services industry, whilst gaining access to emerging and disruptive trends, products and creative technologies emerging from the pioneering ecosystems of Level39. The platform will also run consumer focus groups and invite user feedback on new products and services in development.

Chief Executive of Pivotal Innovations, Claire Cockerton said, "The banking and finance sector still has huge economic growth potential but has suffered during the crisis from a lack of investment in innovation and the development of the next generation of products and systems needed for efficiency and reliable delivery of services. The sector needs to quickly adapt to industry changes and develop innovative products reflecting the connected digital economy in which we now live. API Labs will help established institutions and innovators rapidly evolve to shape current and future banking and financial services solutions."

Nadeem Shaikh, Founder, Anthemis Group said, "API Labs is the result of the combined perspectives, experience and knowledge that the unique structure of our organisations afford us - we see the challenges faced by both the established financial services organisations and startups. API Labs is the specialised platform providing expertise to these companies to develop, test and go to market with new products and services in short time frames to remain competitive and keep up with the pace of technological innovation."

About API: API is a powerful new collaboration between the Anthemis Group and Pivotal Innovations, geared towards the provision of innovation advisory and product lab services for the financial services sector. Working with challenger and established organisations in banking and financial services, API offers clients a unique route to innovating, bringing deep sector expertise, wide networks across the global startup and entrepreneurial community, and excellent credentials in innovation design and delivery.

About Anthemis Group: Anthemis Group  is the leading digital financial services investment and advisory firm focused on re-inventing financial services for the 21st century. We are distributed, networked and emergent; an approach we believe is optimally aligned with the economic, cultural and competitive environment of the Information Age. We work with a diverse group of customers and partners - from start-ups and venture capital firms to corporates, financial institutions and private equity firms - catalyzing and accelerating positive and disruptive change across the financial industry.

About Pivotal Innovations:  Pivotal Innovations (UK) Ltd, based at Level39, designs and delivers bespoke innovation programmes to help governments, corporates and investors grow, innovate and collaborate. We focus on bringing the expertise, resources and partnering opportunities of the large corporate together with the agility, insight and technology of the startup to change the shape and dynamics of the financial services industry. We produce insight and thought leadership while also leading and supporting initiatives that showcase emerging trends in the industry.

Contact: Simrat Ghuman +44(0)207-479-7771

SOURCE Anthemis Group and Pivotal Innovations UK