FinTech Innovation Lab Asia-Pacific has today unveiled the eight fintech startups in its third batch. The startups will undergo a 12-week mentorship programme led by senior financial executives in a series of workshops at the Hong Kong-based tech business park Cyberport to commercialise their products. They will also be able to connect with potential customers at leading institutions.
At the end of the programme, five startups will be selected to pitch to potential investors and financial industry executives.
The eight fintech startups are:
The US-based startup providea HTML5-based financial chart and data visualisation software development tool kits to financial institutions such as investment banks, brokerages and trading platforms. Essentially, ChartIQ’s solutions help these institutions to ramp up their fintech-readiness by replacing their legacy systems with advanced web technologies.
The US- and Singapore-based startup delivers big data analytics solutions to help investment professionals better assess market trends and manage investment portfolios. It claims its predictive investment analytics platform can reduce peak-to-trough drawdown by as much as 75 per cent. It can also automate day-to-day portfolio management tasks.
The Singapore-base startup specialises in smart contracts, biometric and blockchain technology to manage KYC (Know Your Customer) or in other words, the process of verifying clients’ identities. KYC-Chain allows KYC information to be shared within organisations internally as well as externally and provide full transparent audibility and background checks on clients without compromising their privacy.
The Hong Kong-based startup develops portfolio support software for investors, portfolio managers, risk managers and traders. It draws insights from hundreds of live investment processes globally, IPs compiled from long collaborations and research and clients’ support and feedback to deliver view-driven portfolio optimiser and flexible portfolio analytics.
In simpler terms, investment professionals can use Lattice’s platform to better manage and finely-tuned portfolios based on curated data.
Hong Kong-based Privé Managers has developed a wealth management platform using its bionic advisory engine. Among its features include wealth planning, illustrations generator, customer relationship management, scenario analysis and professional asset management services.
The Berlin-based startup, which has offices in Hong Kong and Singapore, helps chief information officers (CIOs) and IT executives streamline costs by delivering analysis of technical debt, digital transformation as well as change across all software stacks, teams and technologies on a dashboard.
The Tokyo-based startup leverages on big data, data mining techniques and machine learning to help financial institutions identify fraud schemes. It also delivers a real-time transaction blocking mechanism to customers to block fraudulent transactions. Another unique feature for SIORK its ability to analyse Chinese characters based on raw data.
8. TNG Wallet
Hong Kong-based TNG Asia’s TNG Wallet is a comprehensive e-wallet solution that allows users to pay for bills, transportation, conduct money transfers, withdraw cash, buy products from selected vending machines, as well as make e-commerce payments.
The lab’s achievements thus far
Launched by Accenture in 2014, the FinTech Innovation Lab Asia-Pacific has been active in providing guidance and support to the burgeoning fintech space through collaborations with 12 leading financial institutions including Standard Chartered, Maybank, HSBC, J.P. Morgan, Goldman Sachs and Morgan Stanley.
Besides APAC, FinTech Innovation Lab programme operates in Ireland, London and New York. Its alumni has raised more than US$370 million to date.