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Accenture accelerates growth for Asia-Pacific fintech

Anuradha Shukla | April 24, 2017
Announces Asia-Pacific’s fourth annual FinTech Innovation Lab 2017.


Accenture announced its 12-week programme dedicated to help early- and growth-stage fintech companies accelerate product and business development.

The FinTech Innovation Lab Asia-Pacific is ideal for entrepreneurs that are looking to develop cutting-edge and disruptive technologies for the financial services sector.

Those selected for this programme will gain exposure to top financial institution executives. 

“Fintech isn’t new or hot, it’s a basic requirement; it has to be a part of standard operating procedures for financial institutions today because if you’re not innovating, you’re not keeping pace with what your customers want,” said Jon Allaway, senior managing director at Accenture and the executive sponsor of the FinTech Innovation Lab Asia-Pacific. 

“But startups still struggle to meet senior executives of financial institutions unless they get an introduction through programs like our Lab.”


Investments on the rise

Investments in Asia-Pacific fintech companies are on the rise, according to Accenture analysis of CB Insights data.

During the first quarter of 2017, investments totaled US $1.1 billion, representing 21% of the US $5.1 billion invested into fintech companies globally.

From all applications received, chief technology officers and senior technology executives from the financial institutions will select up to eight fintech companies.

These companies would then be invited to participate in the Lab through a competitive process and would be provided with intensive in-person mentoring in Hong Kong. 

All applicants must have a working beta version of their technology. The Lab will begin on August 21, 2017, and culminate in November 2017 with a Demo Day presentation by selected participants in front of an audience of venture capitalists and financial industry executives.

Those interested can apply online between April 24, 2017 and May 31, 2017. 


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