Welcome to The Fintech Files, your weekly roundup from Financial News, keeping you up-to-date with the latest developments in financial tech and innovation. Today's edition is brought to you by deputy online editor Elizabeth Pfeuti.

Fintech and fund management - better late than never
Fund managers can’t claim they didn’t get the memo about fintech. The Financial Conduct Authority has been trying to get them involved for a while, launching its Project Innovate in 2014 — but few asset managers fancied getting stuck into the sandbox, it seems. Fintechs had to wait til the start of this year for the industry’s home-grown effort: the Investment Association’s VeloCity accelerator initiative. It aimed at enticing “two cohorts of four to eight fintech firms a year” to work with its members. No news on those cohorts so far. In this column, we have talked before about how fund managers seem less keen on getting with the fintech trend than their investment banking and trade finance cousins — but at long last, there seems to be some action.