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Eight startups begin their FinTech Innovation Lab Asia-Pacific 2016 programme

Adrian M. Reodique | Aug. 23, 2016
Five out of them will have a chance to present their concepts to potential investors and industry executives at the end of the programme.

Eight financial technology (fintech) companies have begun their 12-week FinTech Innovation Lab Asia Pacific programme.

Launched in Hong Kong in 2014, the FinTech Innovation Lab Asia Pacific is a collaboration between Accenture and financial institutions to provide selected startups with mentorship from senior-level officers to help them develop and commercialise their innovations, as well as connect with potential clients.

The twelve principle financial institutions are Bank of America Merrill Lynch, BNP Paribas, Commonwealth Bank of Australia, Credit Suisse, Generali, Goldman Sachs, HSBC, J.P. Morgan, Maybank, Morgan Stanley, Sun Life Financial, and UBS.

In addition, supporting banks include China CITIC Bank International, China Construction Bank (Asia), Macquarie, Nomura, Standard Chartered, Siam Commercial Bank, Societe Generale, Sumitomo Mitsui Financial Group (SMFG).

"Most financial institutions are grappling with how to become more efficient, cut costs, comply with regulators and simultaneously increase their interaction with customers," said Jon Allaway, Senior Managing Director for Financial Services at Accenture, in a press release.  

"The startups in this year's Lab offer innovative answers to these problems. With solutions like analytics that make wealth management advice available to more clients, we are seeing how fintech can help institutions deliver better services to their customers," he continued.

Besides being mentored by financial services executives, the eight start-ups will also undergo panel discussions and coaching sessions on product and business development. Five of them will have the chance to present their concepts to potential investors and industry executives at the end of the programme on 9 November 2016, according to Accenture.

The participants for this year's FinTech Innovation Lab Asia-Pacific are:

1.       ChartIQ (Headquarters: Charlottesville, Virginia with offices in New York, London, and Cyprus), which provides securities-specific financial chart and data visualisation products in HTML 5.

2.       HedgeSpa (Office locations: Singapore and California), which offers a predictive investment analytics platform that enables professional investors leverage Internet to improve their performance.

3.       KYC-Chain (Headquarters: Singapore), which provides a platform that uses biometrics, emerging technologies and blockchain to streamline onboarding processes. This enables front line sales and compliance officers to continuously interact with their clients and other financial institutions in a secure environment.

4.       Lattice (Headquarters: Hong Kong). It offers a platform containing portfolio optimiser and analytics to help investors, portfolio managers, and traders identify investment risks.

5.     Privé Managers (Headquarters: Hong Kong), which developed a wealth and asset management platform powered by a proprietary bionic advisory engine.

6.     Seerene (Headquarters: Berlin with offices in Hong Kong and New York), which provides insights and analytics through connecting to existing data sources in the organisation, aggregating the information, and offering an "x-ray vision" on the data. They also monitor the dollar-effects of technical debt, digital transformation and changes across all software stacks, teams and technologies.


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