In 2018 Cutover graduated from the Fintech Innovation Lab New York, an accelerator program run by the Partnership Fund for New York City and Accenture with 43 mentor banks and insurance companies.
Over the course of three months, the Lab enabled us to speak directly with CIOs and other senior executives about what Cutover has to offer and validate the need for better enterprise visibility, communication, collaboration and data in Financial Services and Insurance. We were also able to participate in a number of industry panels and workshops and received mentoring from the Lab’s entrepreneurs in residence.
The value of our enterprise platform resonated with the global CIOs of some of the largest financial services organizations in the US. The Cutover Platform is already used in major financial institutions for human orchestration in critical events, but our discussions during the lab furthered our understanding of what high-level executives can gain from using the platform.
One of our core beliefs is that, although automation and AI will play a huge role in changing the face of work over the coming years, humans will always be vital to making big, complex changes. Cutover enables appropriate automation in regulated industries, for example improving audit trails by providing people with the data they need that they would previously have had to hunt for. Many of the conversations we had on the accelerator confirmed that there is a need for better tooling to increase automation and support the vital work that will always need to be done by people.
We came out of the lab with some great relationships and opportunities to grow in the US. We had Proof of Value (PoV) exercises with three large Financial Services organizations and also concluded a number of successful PoVs in another major US bank. During a PoV, we allow a potential client to run a small but real event on Cutover to test drive the product before they buy.
The three months we spend on the program were a very rewarding period on our journey. With the stellar feedback we got on our product and the exciting product roadmap components we continue to work on, we are very excited for what the future of Cutover will bring.