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DBS Hong Kong kicks off inaugural accelerator programme

04 August 2015  |  7193 views  |  0 DBS accelerator

Innovations in Big Data analytics, payments, risk management, security, and P2P lending are to the fore among the ten startups selected to participate in the inaugural DBS Accelerator programme in Hong Kong.

The intensive accelerator programme - developed in association with local incubator Nest - is housed in 'The Vault', a newly renovated 5,000-square foot workspace which was opened by the bank in June to to act as a springboard for fintech startups with mentoring and support.

The 10 startups taking part - Tofu Pay, Currenxie, Apvera, Creditable, Dollar$mart, Monexo, Fund Innovation, Xfers, Closir and Super Fluid - were selected from nearly 140 applicants from around the world.

The three-month programme concludes in November with DBS and Nest Demo Days and a Public Investor Demo Day, where successful ideas will be picked out for further investment.

DBS Bank (Hong Kong)’s managing director, head of technology & operations, Hong Kong & Mainland China, David Lynch, says the bank is committed to being an active participant in shaping the future of banking by partnering with and learning from the startup community.

"FinTech is attracting a new wave of talent and entrepreneurial thinking. Industry mega trends, such as cloud computing, mobility and wearable technology, the Internet of Things and data science, are unlocking the potential to create new business models and ecosystems," he says. "It's energising to see how many high potential startups are moving into the space. The chosen startups for the programme all show strong potential to succeed in their respective domains, as well as to help us transform."

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