Global consulting firm Accenture announced Monday (September 1, 2014) the selection of the following financial technology startups for the inaugural FinTech Innovation Lab Asia-Pacific: Advanced Merchant Payments (Hong Kong), AtCipher.com (Hong Kong), Beijing Wecash Wonder Technology (China), FinSuite (Australia), I Think Security (Canada), iDGate (Taiwan), Jocata Financial Advisory & Technology Services (India), and QxBranch (the US).
Among the "new innovations" that these firms are working on are "more comprehensive analytics for credit analysis, data protection solutions and quantum computing software," said Accenture executives in a statement issued on Monday.
"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 Sushi Saluja, Senior Managing Director, Financial Services, 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."
The FinTech Innovation Lab Asia-Pacific-put together by Accenture and leading financial institutions, and supported by Cyberport and Airbnb-is a 12-week mentoring programme that offers support and guidance for startups developing technology for use in the financial sector. The eight startups were evaluated and picked by top-level executives from the financial services industry (FSI).
"Our goal with the Lab is to help foster innovation in financial services using technology, reflecting our commitment at Accenture to spearhead innovative technological solutions and make a real difference in the everyday lives of people," Saluja said.
Sign up for CIO Asia eNewsletters.