OpenLegacy Selected for Spot in Fintech Europe's First Accelerator Batch

RESTON, Virginia and FRANKFURT, Germany, September 21, 2018 /PRNewswire/ --

OpenLegacy was recently selected as one of nine startups in Fintech Europe's initial accelerator batch. Sponsored by Plug and Play in partnership with Deutsche Bank and Tech Quartier, the Frankfurt-based program intends to run two 12-accelerator batches per year.

OpenLegacy's API integration and management software accelerates digital innovation by quickly connecting the core and legacy systems to new digital services for mobile, cloud, and web.

"We take our role in driving the fintech industry forward very seriously, so we're especially honored to have been awarded a spot in Fintech's inaugural group," said Zeev Avidan, OpenLegacy's Chief Product Officer. "FIs and the fintechs need to accelerate time to market to maximize customer value and retention. By combining microservices and APIs, OpenLegacy closes the gaps between the legacy systems and innovations."

This partnership gives OpenLegacy the opportunity to demonstrate its disruptive capabilities to Plug and Play's corporate partners and participating institutions who have been unable to invest in the newest fintech because of the rigidity of their legacy application investments.

Using OpenLegacy, companies can fast-track their digital transformations to tackle immediate business demands while slashing legacy API integration initiatives at speeds measured by a stop watch, not a calendar. The solution allows them to overcome backlogs and reduce legacy IT complexity.

OpenLegacy specializes in automating API creation, optimization, testing, deployment, and management for core and legacy systems across the entire API lifecycle, including the creation of microservices. Its patented approach bypasses layers of complexity to directly access and extend business logic to web, mobile, or cloud innovations; the process is not only fast, easy and secure, but it also does not require special staff skills or changes to existing systems or architecture.

"We're focused on startups creating disruptive technologies that can change markets and make incremental improvements for our corporate partners," says George Damouny, Partner at Plug and Play Ventures. "We have selected pre-seed to pre-IPO companies working on solutions from operational efficiency and security automation to food safety and augmented reality. We hope to see these companies grow immensely over the next few months through our expansive corporate ecosystem."

About OpenLegacy 

OpenLegacy helps organizations quickly launch innovative digital services by extending their core (legacy) systems to the web, mobile and cloud in days or weeks versus months. Our API software quickly reduces project backlog by automating and accelerating API creation, deployment, testing and management from core applications, mainframes and databases. Together, business and IT teams can quickly, easily and securely meet consumer, partner or employee demands for digital services without modernizing or replacing core systems, and without special programming skills or invasive changes to existing systems and architectures. Learn why leading companies choose OpenLegacy at http://www.openlegacy.com.

About Plug and Play 

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit http://www.plugandplaytechcenter.com

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SOURCE OpenLegacy