Global professionals services firm Accenture announced that it has chosen 11 fintech companies for the 2021 Fintech Innovation Lab Asia Pacific, a 12-week global accelerator program created by the company.
The program, held in collaboration with Hong Kong Cyberport, provides fintech startups with mentorship from 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. Accenture said the program’s 59 alumni companies have raised more than $716 million in venture financing.
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.
“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 Ferguson Gordon, a managing director at Accenture who leads its banking industry practice in Asia Pacific, Latin America, Africa, and the Middle East.
The Lab, he added, 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 11 selected startups, hailing from six markets and leveraging technologies such as AI, blockchain, and big analytics, 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.
According to the announcement, 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.