Nuggets joins Accenture’s FinTech Innovation Lab accelerator in London

By Megha Bhattacharya

Accenture announced that digital ID and payments platform Nuggets has been selected as part of Accenture’s FinTech Innovation Lab accelerator programme, in London. Nuggets is a decentralised, self-sovereign ID platform that aims to offer organisations a safe and secure digital method of identifying employees, while hosting its platform via Blockchain technology, to help users maintain control of their own data.

Seema Khinda Johnson, Co-Founder and COO of Nuggets, said, “Being accepted into the programme is a tremendous opportunity that will enable us to showcase our technology to every bank and financial institution who are all looking for a fast, safe path to innovation, especially when it comes to privacy,” she stated, adding that they are excited to work with Accenture “…to help banks and financial institutions explore the benefits of SSID whilst maximising data privacy and security for business and consumers.”

According to Accenture, its FinTech Innovation Lab is currently running an accelerator programme in London, with a cohort of 20 startups benefitting from the initiative until the end of March 2021.

Graham Cressey, FinTech Innovation Lab Programme Director with Accenture UK, spoke of the importance of the cohort: “If there’s anything we’ve learnt from such a challenging time, it’s that there’s never been a greater need for purposeful organisations to make a difference at speed. With a customer-first outlook and innovative capabilities, FinTechs may hold the key to quickly helping society on its road to recovery, making them valuable partners in the industry,” he said.

Recently, The Bank of England (BofE) confirmed that Accenture has been appointed as the Technology Delivery Partner for the Real Time Gross Settlement (RTGS) service Renewal Programme. The appointment follows the procurement process that began in February 2019 and will see BofE work with Accenture for developing the payments service. The Bank has been operating RTGS since 1996 for offering an immediate way for banks to exchange payments.