Schroders announced he launch of its global in-residence programme for tech start-ups.

The Cobalt programme has been designed to help financial services-focused start-ups collaborate with Schroders to support their development.

Schroders is specifically targeting tech companies which have progressed beyond the conceptual or early-growth stage that offer solutions relevant to investment management.

Selected firms will benefit from direct access to appropriate business divisions within Schroders, resources and potential investment. Applications are now open for the Cobalt programme.

Peter Harrison, Group Chief Executive at Schroders, commented:

“Innovation is part of Schroders’ DNA. It has enabled us to evolve and grow our business for more than 200 years.

“The Cobalt programme demonstrates that we are a natural home for fintech start-ups and gives us direct access to a pipeline of innovators enabling us to harness tomorrow’s technology to better tackle today’s investment and industry challenges.”

The start-ups will be assessed against criteria which will look to ensure they are closely aligned with Schroders’ business priorities and culture, as well as identify innovative solutions which will deliver tangible benefits within 12 months.

A bespoke arrangement will be agreed between Schroders and participating start-ups, which will base themselves within Schroders, detailing the length and respective terms of the collaboration.

Graham Kellen, Chief Digital Officer, Schroders, commented:

“By collaborating with ground-breaking tech start-ups we can tackle legacy technology issues with problem-solving innovation for the benefit of our clients and our own productivity.

“In turn, the start-ups we choose to work with will also profit from our industry expertise and resources to fast-track their development. The Cobalt programme is our answer to how best to collaborate with tech start-ups.”