SINGAPORE and HONG KONG; Sept. 2, 2021 – Accenture (NYSE: ACN) today announced the 11 leading fintech companies that have been selected for the 2021 FinTech Innovation Lab Asia Pacific, held in collaboration with Hong Kong Cyberport. The companies were welcomed today at the welcome reception, which featured remarks by guest of honor Christopher Hui, Secretary for Financial Services and the Treasury, Hong Kong Special Administrative Region, as well as a fireside chat with Nelson Chow, chief fintech officer, Fintech Facilitation Office, Hong Kong Monetary Authority (HKMA).
A premier global accelerator program created by Accenture, the Lab is a 12-week program that provides fintech startups with mentorship from leading 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; its 59 alumni companies have raised more than US$716 million in venture financing.
This year’s program received submissions from 28 countries. Applicants were invited to share solutions that address key topics in financial services, including supporting digital currencies, managing environmental, social, and governance (ESG) standards and risks, improving client engagement and growing wealth management and insurance services in Asia Pacific.
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.
“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 Fergus Gordon, a managing director at Accenture who leads its Banking industry practice in Asia Pacific, Latin America, Africa and the Middle East. “The region is fertile ground for growth and innovation in the financial services industry. The Lab 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 2021 Lab formally kicks off this week, giving startups access to Accenture’s global ecosystem and partners. This year’s Lab also features an enhanced partnership with Hong Kong Cyberport, providing these startups with the opportunity to participate in the Cyberport Incubation Program (CIP). The two-year program will provide selected startups with a range of business, professional and mentorship support.
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