Ten leading fintech companies have been selected to participate in the 2023 FinTech Innovation Lab Asia-Pacific program.
A global premium accelerator program, the FinTech Innovation Lab Asia-Pacific helps early- to growth-stage enterprise technology companies accelerate product and business development by providing them with mentorship and unparalleled access to senior executives at the world’s leading financial institutions and technology companies. Through co-creating and collaborating, companies at the 2023 FinTech Innovation Lab Asia-Pacific will have the opportunity to build real-world solutions for business challenges and accelerate fintech innovation in the region.
Ten finalists for FinTech Innovation Lab Asia-Pacific 2023
Selected from more than 100 applicants across 19 countries/regions, the ten startups are:
- Nanoinsure (Hong Kong) – Developed a platform on a microservices architecture that empowers insurers to build products and digital sales applications.
- PortfoPlus (Hong Kong) – Created an all-in-one Insurtech tool that supports policies from insurers and can simultaneously accommodate the needs of both policyholders and advisers.
- Divit (Hong Kong) – Payment platform partners with global airlines to link loyalty points with real-time payments. s
- MixCare Health (Hong Kong) – B2B health and wellness platform that can connect and manage multiple health service providers and offer services to customers.
- Artius Global (Singapore) – Enterprise Regulatory Monitoring and Reporting Solution can help customers solve complex regulatory compliance.
- krip (Hong Kong) – Centralized credit card deals platform helps consumers spend smarter, businesses maximize exposure of deals to grow business, and financial institutions achieve true personalized target marketing.
- Divizend (Switzerland) – Solutions help investors maximize their dividend yield by means of withholding tax refunds and reinvestments.
- ESGnie (Singapore) – Developed an operating system for ESG data and analysis tasks which can source and process unstructured ESG data entirely in-house.
- Intensel (Hong Kong) – Climate risk software solution measures portfolio and asset level risks related to climate change.
- Vaultavo Inc. (United States) – Digital Asset Custody Infrastructure Technology allows institutions and individuals to take 100% control, security and governance of their digital assets.
Addressing the industry’s most important issues
To help explore new paths of growth in the evolving finance sector, fintech companies will continue to innovate and empower incumbents as industry enablers to enhance their offerings especially during a period when the competitive environment has significantly changed due to global rate hikes.
This year’s participants are focused on some of the industry’s most important issues — generative artificial intelligence (GenAI), data analytics, risk and compliance, mitigating climate risk, and the use of Web3 technologies to elevate the customer experience and drive business growth in the post-Covid era.
Celebrating a decade of accomplishments
Since its inception in Hong Kong 10 years ago, the Asia-Pacific Lab has received more than 1,500 applications from over 35 countries/regions. The program’s 70 alumni companies have raised over US$800 million, generated 357 proofs of concepts, and completed more than 230 pilot programs, eight of them have been acquired.
The ten companies participating in the 2023 FinTech Innovation Lab Asia-Pacific will follow in the footsteps of successful alumni who have made significant impacts in the financial services industry. For example, the 2015 alum Sybenetix, a London-based company that uses advanced technologies such as artificial intelligence (AI) and behavioral analytics to offer market surveillance and compliance monitoring systems, has been acquired by NASDAQ in 2017 to fight various forms of market abuse and financial crime. In addition, the 2021 alum Ayoconnect, an Indonesia-based Open Finance API platform, raised USD 43 million since graduated, enabling financial inclusion in Southeast Asia.
The 2023 FinTech Innovation Lab Asia-Pacific will culminate in October, with the participants presenting their solutions at Fintech’s Finest Forum 2023.