Barclays is promising to create a global community for fintech innovation, opening physical hubs around the world, beginning with New York, to house startups.
The Rise project has kicked off with the launch of a site in New York's Silicon Alley. Offices in Europe, Africa and Asia will open their doors by the end of 2016.
In each location Rise will provide a working environment, event spaces, and meeting rooms for "innovative companies". In addition, the project aims to act as a global digital network promoting online collaboration and participation in innovation challenges.
Rise New York will also be the home of the first of the city's cohort of the Barclays Accelerator, a 13-week startup programme for fintech outfits. Having seen off hundreds of rivals from 55 countries, 11 firms will take part in the programme later this year.
Michael Harte, chief operations and technology officer, Barclays, says: "Rise is designed to help shape the future of our industry and drive growth. We're seeking to connect the world’s most active innovators to each other, to corporates, and to resources and support networks."