Bangkok Bank launches fintech accelerator

Bangkok Bank launches fintech accelerator

Bangkok Bank is on the hunt for startups with fresh ideas for banking in Asean markets through the launch of a new accelerator programme in collaboration with early-stage VC Nest.

The bank is looking for eight startups to join a 12-week 'InnoHub' programme commencing in June that will take place in the bank's home market of Bangkok, Thailand.

Early-stage companies developing technologies for payments, electronic Know Your Customer (eKYC), machine learning and artificial intelligence (AI), will receive preference. The global call out is also geared towards companies with technologies that have direct relevance to the Thai market, or potential for adoption across the Asean region.

Alongside the usual mentoring and support, the bank will also open up access to its new venture capital company, Bualuang Ventures, to explore potential investment opportunities.

The programme will conclude in a Demo Day in September 2017, when the selected startups will pitch their business ideas to members of the wider investment community in a bid to secure funding and partnerships.

Panukorn Chantaraprapab, executive of business investment department of Bangkok Bank, says: "For Bangkok Bank there is the potential to adopt new technologies to further the development of innovative services and experiences for our customers, and in partnership with Nest we will source and select startups that have strong relevance to our business."

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