Barclays expects the new platform to help it find innovative financial technology quickly and at a cheaper cost, economictimes.indiatimes.com reports.
Barclays is not going to invest in the startups till the ideas generated through this platform can be used by the bank in its own innovation.
Over 3.700 startups across the world have applied to be the part of the platform, and 70% could sign an agreement with Barclays. However, startups wanting to sign up to be a part of the network have to pay a fee according to their use of the facilities.
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