Accenture calls for Asia-Pacific fintech start-ups
Applications will soon open for Accenture’s fourth annual Asia-Pacific Fintech Innovation Lab, a 12-week programme to help start-ups speed up product and business development.
According to the firm, investments in Asia-Pacific fintech companies are on the rise. During the first quarter of 2017, investments totalled $1.1 billion, representing 21% of the $5.1 billion invested into fintech companies globally – and it naturally wants a piece of the action.
Jon Allaway, senior MD at Accenture and the executive sponsor of Fintech Innovation Lab Asia-Pacific, says: “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 and you need to do for your business.”
The lab is looking for firms – particularly in the areas of big data; analytics and cognitive computing; security and identity management; risk management and compliance; digital marketing and social media; cloud; payments; blockchain; talent management; and, internet of things (IoT) applications.
CTOs and senior technology executives from the financial institutions will select up to eight of the applying fintech companies to participate in the lab and will then provide them with mentoring in Hong Kong.
The principal financial institutions are Bank of America Merrill Lynch, Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, Macquarie Group, Morgan Stanley, Nomura, Société Générale and Sun Life Financial.
Applicants must have a working beta version of their technology. The lab, which begins on 21 August 2017, will partner the chosen fintech entrepreneurs with executives and entrepreneurs, to help them fine-tune and develop their technologies and business strategies through workshops, panel discussions, networking, meetings and presentations.
The lab culminates in November 2017 with a demo day presentation.
Applications can be made here from 24 April to 31 May 2017.