Seven financial technology entrepreneurs have been selected to participate in the inaugural FinTech Innovation Lab London launched by Accenture (NYSE: ACN), leading banks and venture capital companies last year. The Lab is designed to nurture early-stage companies developing new technologies for the financial services sector.

The seven start-ups – chosen by leading industry executives from a large field of applicants from the UK and internationally – include: BehavioSec, Calltrunk, Digital Shadows, Growth Intelligence, Kiboo, Open Bank Project and Waratek. Their innovations range from cloud development tools and “Big Data” security and analysis applications, to search engines for voice recordings, “behavioural biometric” solutions for fighting fraud, open source technologies, and personal financial management tools for young people.

The chosen entrepreneurs will be mentored for 12 weeks by leading executives from financial services, venture capital and angel investment firms through a series of panel discussions, workshops, leadership coaching and networking opportunities. At the end of the programme, the entrepreneurs are given an opportunity to present their concepts to potential investors and participating industry executives.

The FinTech Innovation Lab London is modelled on a similar programme that was co-founded by Accenture and the Partnership for New York City Fund, which has already proved highly successful in helping a dozen young financial technology start-ups.