BitSight wins our ‘Most Innovative Prospect’ award at inaugural Open Innovation event in New York

At Barclays innovation has long been our hallmark. We gave the UK its first credit card and cash machine and have been leading the way in mobile payments and contactless cards. However we know that we don’t have all the answers inside and so partnering with the right suppliers is critical to our success. Neither do we assume that big business has all the answers.

For the past three years we’ve hosted open innovation events in Silicon Valley, where start-ups and venture-capital backed companies pitch their solutions to our technology executives. Through these events we’ve discovered some amazing new suppliers who’ve helped us deliver step-change improvements in areas such as security and automation.

As a result, we expanded our search and on Friday, 16 October we hosted our first open innovation event in New York, seeking solutions to API and data confidentiality challenges.

During the networking event, Sameer Jain, Chief Information Officer for the Investment Bank, named BitSight as the ‘Most Innovative Prospect’. Founded by security pioneers, they are on a mission to transform how organizations evaluate risk and security performance by providing an ‘outside-in’ view.

After the event, Tom Turner, Executive Vice President of BitSight, said: "From the outset I enjoyed a lively discussion with the panelists on the Barclays Open Innovation committee in NYC - no shrinking violets in that group! It was gratifying to see our philosophy understood so readily, and our platform's utility and value add embraced so quickly."

Barclays is now collaborating with BitSight and some of the other contenders, with anticipation that some will be on-boarded as new suppliers in the near future.

If you’re interested in taking part in future events, please contact Shona Claremont.