NEW YORK–Navy Federal has joined Bank Innovation INV, which was launched in January to be a “revolutionary fintech accelerator.”
Its organizers call it the first non-geographically specific fintech accelerator open to startups from anywhere in the world.
Navy Federal joins Fiserv, Bank Innovation, U.S. Bank, Cross River Bank and other financial institutions as a member of INV. Navy Federal will contribute mentorship and work to cultivate the startups in INV.
“We are extremely excited to welcome Navy Federal as a partner in this venture,” said JJ Hornblass, principal, bank innovation INV. “As the largest credit union in the world, Navy Federal is sure to lend a valuable perspective as a member-owned institution to the INV endeavor.”
The inaugural class of Bank Innovation INV received applications from more than 100 early stage companies. Applications are currently being evaluated, and the first class will begin this month.