Embraces Fintech Startups All Asia, DBS Seriously Develops Tekfin Ecosystem

By : Aldo Bella Putra | Friday, July 28 2017 - 16:19 IWST

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INDUSTRY.co.id - Hong Kong - DBS Bank is ready to launch DBS Accelerator Program, a collaboration program of DBS Bank (Hong Kong) and Nest, a global innovation platform that supports entrepreneurs.

According to the official statement received by INDUSTRY.co.id on Friday (28/7/2017), DBS Accelerator aims to apply FinTech technology better in the bank ecosystem by creating opportunities for innovators from all over Asia and the world to transform into digital.

In the third year, the program has become a major go-to hub in Hong Kong for startups with the vision and potential to build a financial future with an innovative FinTech solution. DBS Accelerator is also supported by industry-leading partners, including Amazon Web Services, HKUST Business School, IBM, InvestHK, and Thomson Reuters. Ovolo Hotels is the program's accommodation partner.

The plan for application acceptance is open throughout the year. However, the registration for the first wave will be closed by the end of July 2017. Several eligible applicants have been invited by DBS Bank on July 16 yesterday to receive feedback from the DBS business units prior to making a presentation to senior management in the selection of the next finalists.

For fintech startup players who have not had the opportunity to submit their fintech startups business applications to submit applications on the next wave through the official web.

Through the new "always-on" programming format, DBS Accelerator will host startups to continue to help strengthen the bank's transformation journey, which will continue to be updated throughout the year.

Participating startups will have the opportunity to. The first wave startups will be directed at various ways that have an impact in increasing customer's digital journey, bank risk management, as well as cryptocurrency, blockchain and cybersecurity.

The "always-on" Accelerator Program is held at "The Vault", a 5,000 square foot work area in the heart of Wan Chai. Participating startups will have the opportunity to explore collaborative opportunities with DBS Bank, access to resources and mentor support, and be guided to enhance the growth and development of their business.

DBS Bank (Hong Kong) CEO Sebastian Paredes said the new dynamic approach aims to improve risk management, cybersecurity and digital customer journey, as well as opportunities to implement blockchain and cryptocurrency technologies, helping banks transform through FinTech innovations.

"Through the success of the DBS Accelerator program, we are very enthusiastic and committed to driving the future of FinTech," he said.

Nestlé Nestle CEO Nest Lawrence Morgan said at Nest that he believes that open innovation and collaboration will open opportunities while empowering companies and FinTech startups to not only address the changing needs of consumers but address them more quickly with more meaningful impact.

"We are excited about the collaboration of this new program format with DBS, to continue this open innovation movement and achieve positive business results for both DBS and FinTech startups worldwide." He said.

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