Asia-Pacific FinTech Lab reveals line-up
Written by Michelle Stevens
Eight technology startups have been selected to take part in the new FinTech Innovation Lab launched in the Asia-Pacific by Accenture.
The Lab will operate in Hong Kong and is a collaboration between Accenture and several leading financial institutions, supported by Cyberport and Airbnb.
The initiative is designed to nurture early-stage companies from around the world that are developing new technologies for the financial services sector with a particular focus on the Asia-Pacific region.
The startups selected for the Lab will be mentored for 12 weeks by senior executives from FS firms through a series of panel discussions, workshops, leadership coaching and networking opportunities. The entrepreneurs will then be given an opportunity to present their concepts to potential investors and financial industry figures.
The eight businesses chosen for the programme’s first intake are: Advanced Merchant Payments, AtCipher.com, Beijing Wecash Wonder Technology, FinSuite, I Think Security, iDGate, Jocata Financial Advisory & Technology Services and QxBranch.
“We are very pleased with the number and quality of applications to the inaugural FinTech Innovation Lab Asia-Pacific, particularly the broad range of solution areas and the wide geographic base from which the applications have been made,” said Sushil Saluja, senior managing director, financial services at Accenture.
“The solutions proposed by the 2014 Lab applicants selected help provide better data security, analysis and risk assessments to assist financial institutions across Asia-Pacific in improving the quality of service for financial services customers.”
Financial institutions supporting the Lab include Bank of America Merrill Lynch, Bank of China (Hong Kong), Barclays, China Construction Bank (Asia), Credit Suisse, DBS, HSBC, J.P. Morgan, Morgan Stanley, Ping An and UBS.
The Asia-Pacific Lab is the third such project launched by Accenture, following successful programmes in New York and London.