Wells Fargo Startup Accelerator Adds Ascent RegTech and Motiv to Portfolio

Startups to promote further exploration of regulatory technology,
artificial intelligence and Internet of Things solutions

SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/fintech?src=hash” target=”_blank”gt;#fintechlt;/agt;–Wells Fargo & Company (NYSE:WFC) announced that Ascent RegTech and Motiv
have joined the Wells Fargo Startup Accelerator, which is designed to
help advance emerging technologies that could transform the financial
services industry.

Lisa Frazier, head of the Innovation Group at Wells Fargo, made the
announcement onstage at the Quesnay Female Founders in Fintech
competition in New York. The competition focused on supporting women-led
startups with market-ready solutions that address key opportunities in
financial services.

“We’re continuously seeking ways to improve customer and team member
experiences, and working with promising startups is a key part of our
efforts,” said Frazier. “The financial landscape is constantly evolving,
and it’s critical that banks find innovative ways to serve their
customers and provide them with seamless, convenient and relevant
experiences and find new ways to manage risk.”

Latest Wells Fargo Startup Accelerator companies:

  • Ascent
    (Chicago) provides an end-to-end compliance platform
    powered by artificial intelligence that distills complex regulatory
    text into daily tasks that are connected to internal controls,
    policies and procedures with full traceability. This makes it easy for
    compliance teams to know exactly what they need to do in order to be

    “We are honored to be a part of the Wells Fargo
    Startup Accelerator and are excited to leverage the expertise of this
    global institution that is a market leader in innovative technology,”
    said Brian Clark, CEO of Ascent RegTech. “As an industry, we can
    accomplish so much more when large firms and startups work together,
    and we look forward to exploring ways we can bring innovative regtech
    solutions to market on a larger scale.”

  • Motiv
    (San Francisco) is a breakthrough wearable technology company focused
    on designing products that fit seamlessly into people’s lives and
    enable trust in a connected world. Motiv’s first product is a ring
    that provides users a 360-degree view of their health while keeping
    online identities secure.

    “Motiv is excited about working
    with Wells Fargo leaders to advance wearable biometric authentication
    technologies,” said Tejash Unadkat, CEO of Motiv. “We want to help
    empower customers to engage with the IoT connected world in seamless,
    secure ways.”

The Wells Fargo Startup Accelerator program began in 2014 and currently
has 23 companies in its portfolio. Startups are eligible to receive up
to $1 million in funding, along with guidance from Wells Fargo business
and technology leaders to help refine the launch of their ideas. The
virtual, six-month, non-exclusive program has received nearly 2,500
applications from innovative companies in 91 countries since the
program’s inception. Applications can be submitted throughout the year
at www.wellsfargo.com/accelerator.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 37 countries and territories to
support customers who conduct business in the global economy. With
approximately 259,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at Wells
Fargo Stories


Allison Vennerberg, 415-222-4722
[email protected]

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