Artificial intelligence, blockchain, and big data technologies feature among 11 shortlisted applications selected to participate
SINGAPORE and HONG KONG; Sept. 2, 2021 – Accenture (NYSE: ACN) today announced the 11 leading fintech companies that have been selected for the 2021 FinTech Innovation Lab Asia Pacific, held in collaboration with Hong Kong Cyberport. The companies were welcomed today at the welcome reception, which featured remarks by guest of honor Christopher Hui, Secretary for Financial Services and the Treasury, Hong Kong Special Administrative Region, as well as a fireside chat with Nelson Chow, chief fintech officer, Fintech Facilitation Office, Hong Kong Monetary Authority (HKMA).
A premier global accelerator program created by Accenture, the Lab is a 12-week program that provides fintech startups with mentorship from leading financial institutions to help them fine-tune and scale their businesses. The Lab has received more than 1,350 applications since it was launched in 2014; its 59 alumni companies have raised more than US$716 million in venture financing.
This year’s program received submissions from 28 countries. Applicants were invited to share solutions that address key topics in financial services, including supporting digital currencies, managing environmental, social, and governance (ESG) standards and risks, improving client engagement and growing wealth management and insurance services in Asia Pacific.
Hailing from six markets and leveraging technologies such as artificial intelligence (AI), blockchain, and big data analytics, the 11 selected startups are:
- Advanced Alternative Investment Systems Ltd (Canada) – Advanced Alternative Investment Systems’ Titan Platform is an integrated cloud-based back-office platform encompassing portfolio accounting, general ledger, and transfer agency/income allocation functionality. Built from the ground up by seasoned fund administration accountants, the platform accommodates solutions for multiple finance-related industries and is engineered for flexibility, scalability and dependability.
- Alpha Fintech (Singapore) – Alpha Fintech enables merchant service providers to access any product provider across the merchant service lifecycle via a single solution ecosystem, standardized into one abstraction layer. This helps providers monetize previously hidden data assets to facilitate cross-selling and better manage financial portfolio risk.
- Asiabots (Hong Kong) – Founded in 2017, Asiabots develops AI solutions — including Voicebot, A.I. Ambassador and Chatbot — that help businesses enhance working efficiency and customer service while reducing management costs.
- CONTRENDIAN Limited (Hong Kong) – CONTRENDIAN’s FUNDMAN.AI investment platform enables financial institutions to advise their clients in a personalized way through its patented algorithm, which considers a client’s own portfolio when making stock and fund recommendations, empowering clients to construct and optimize their portfolios.
- Diginex (Hong Kong) – Diginex is a disruptive impact tech business helping organizations address the world’s most pressing ESG and sustainability issues, using blockchain technology to lead change and increase transparency.
- IPification (Hong Kong) – IPification is building the backbone for mobile authentication for today and tomorrow, IPification’s patented technology gives businesses the ability to verify the device, SIM and phone number of customers via IP address, enabling secure, password-free mobile user authentication and fraud prevention solutions for any mobile application.
- Lagoon (Israel) – Lagoon’s next-generation data infrastructure platform seamlessly fuses data across all sources and structures, providing easy visualization that enables investors to generate investment insights and improve performance.
- Perx Technologies (Singapore) – Perx Technologies is a category-creating lifestyle marketing software-as-a-service platform that helps enterprise and digital-native brands deliver continuous and meaningful engagements and experiences in the mobile-first economy to monetize customer actions by creating personalized, last-mile interactive digital experiences that generate revenue.
- PT Ayopop Teknologi Indonesia (Ayoconnect) (Indonesia) – Indonesia’s largest API marketplace and leading financial APIs developer, Ayoconnect builds and operates the necessary infrastructure for embedded finance while simultaneously enabling developers and companies to choose from a wide range of financial white-label products.
- Qantev (France) – Qantev’s smart health claims platform helps insurers leverage their historical claims data to deliver high-impact insights that enable their operations teams to make better decisions for both claims and provider management.
- Seleya Technologies (Hong Kong) – Seleya Technologies is an industry expert in AI and quantitative analytical tools for financial institutions. Its ExpertAI ESG™ tool enables investors as well as risk and compliance managers to adapt to ESG regulations and stakeholder needs by scaling up a financial institution’s in-house proprietary ESG assessment.
The startups will be partnered with senior executives from participating financial institutions including AIA; Bank of America; China Construction Bank (Asia); Credit Suisse; Generali; Hang Seng Bank; HSBC; ICBC (Asia); J.P. Morgan; Macquarie Group; Malayan Banking Berhad; Manulife; Morgan Stanley; Mox Bank; QBE; Societe Generale; Sun Life and Zurich Insurance Company Ltd.
“As the Asia Pacific region accelerates its adoption of fintech solutions, we remain committed to developing a healthy and thriving ecosystem for startups and financial institutions,” said Fergus Gordon, a managing director at Accenture who leads its Banking industry practice in Asia Pacific, Latin America, Africa and the Middle East. “The region is fertile ground for growth and innovation in the financial services industry. The Lab will provide a platform for startups and participating financial institutions to come together and explore a viable way forward to accelerate the advancement of the sector in the region.”
The 2021 Lab formally kicks off this week, giving startups access to Accenture’s global ecosystem and partners. This year’s Lab also features an enhanced partnership with Hong Kong Cyberport, providing these startups with the opportunity to participate in the Cyberport Incubation Program (CIP). The two-year program will provide selected startups with a range of business, professional and mentorship support.
Peter Yan, Cyberport’s CEO, said: “As Hong Kong’s leading fintech hub, Cyberport is delighted to collaborate with Accenture once again in organizing the FinTech Innovation Lab Asia Pacific. The most outstanding fintech start-ups across the globe will be gathered under this program and we will maximize their potential through comprehensive training with the full support of renowned financial institutions. I am glad to see that five Hong Kong start-ups have been selected this year despite the keen competition. It is a testament to the excellent capabilities and innovation of our start-ups grown in Hong Kong’s vibrant fintech ecosystem. I also encourage other selected start-ups to capitalize on Hong Kong’s position as a springboard to expand their businesses to the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN markets, in which Cyberport can be their home in Hong Kong.”
The program will culminate in November, when the participants will present their solutions at a virtual Demo Day to an audience of venture capitalists and financial industry executives.
Virtual banking offers a path for the fintech sector to develop. As one of Hong Kong’s leading virtual banks, there’s so much we can share from our experience. We are happy to be part of the fintech community and work with the FinTech Innovation Lab.
A vibrant fintech community is essential for us to have a healthy, innovative financial services industry. As one of the world’s largest banks, we have an opportunity to share experience, insight and coaching to support the great ideas and innovations the FinTech Innovation Lab program brings, with clever people building out their creative ideas.
The FinTech Innovation Lab is an excellent opportunity for J.P. Morgan to engage with FinTechs in the Asia Pacific region, to learn first-hand how emerging technologies have the potential to transform the way we do business. Banks and emerging tech companies are increasingly working together and this trend is likely going to continue. Through the FinTech Innovation Lab, the start-ups will also have the opportunity to gain insights into some of the current and future challenges faced by financial institutions.
About Accenture FinTech Innovation Lab Asia Pacific
Modeled on similar programs that Accenture co-founded in New York and London, the FinTech Innovation Lab Asia Pacific is a highly competitive, 12-week challenge-based accelerator program that helps early- to growth-stage startups refine and test their value propositions with the support of the world’s leading financial institutions. Find out more here.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 569,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Cyberport is an innovative digital community with over 1700 start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups on their growth journey, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors. For more information, please visit www.cyberport.hk.