DBS fintech accelerator switches to ‘always on’ mode23 June, 2017
Hong Kong's DBS Accelerator, run by DBS Bank and early-stage VC Nest, is switching the format of the programme to a rolling intake that will see it host new startups throughout the year.
DBS Accelerator aims to better embed new fintech technologies in banks by creating opportunities for innovators from across Asia and around the world to transform the digital agenda. Now in its third year, the programme, based out of “The Vault”, a state-of-the-art 5,000-square foot workspace in the heart of Wan Chai, is a key go-to hub in Hong Kong for fintech startups.
The first batch of startups in the new programme will be focused on impactful ways to enhance the customer’s digital journey, the bank’s risk management, as well as cryptocurrency, blockchain and cybersecurity.
DBS Bank (Hong Kong) CEO Sebastian Paredes, said, “Dynamic new ways to enhance risk management, cybersecurity and the digital customer journey, and opportunities to apply blockchain and cryptocurrency technologies, are helping banks transform through fintech innovation. With the success of the DBS Accelerator programme, we are excited and committed to driving progress towards a fintech future.”
Fintechs that have emerged from the accelerator programe since it began in 2015 include remittance and cross-border payments companies HKDSmart and Currenxie, and India-focused P2P lending player Monexo.