The C5 Alliance Group has launched a new initiative based in Jersey, which will be solely focused on creating fintech products.
The C5 Jersey FinTech Lab will create an environment where C5 can work with entrepreneurs and other businesses that have a financial services product, which requires technical development and marketing.
This new 'lab' will work with businesses on a case-by-case basis, building a bespoke team for them, including strategic support, developers, project managers, office space, marketing and initial seed capital in exchange for a percentage of equity.
The C5 Jersey FinTech Lab will support new product development, product migration, re-engineering, product maintenance and enhancement, testing, mobile enablement, system deployment and finally, taking the product to market.
Mark Loane, CEO of C5 commented: "There are huge opportunities within the fintech sector at the moment, which the excellent work of Digital Jersey has helped to bring to light. As an industry we now have a unique opportunity to leverage our understanding of the financial sector and global regulation to create world-class products... We want to use Jersey’s homegrown talent and skills in this area to support local entrepreneurialism in the area, and also to develop an export capability. We will also be looking at a similar initiative in Guernsey at a later stage."
The first C5 Jersey FinTech Lab developed product, Optics Analytics, will launch later this year, providing a new type of portfolio management system.