Potential investors and members of the local startup community at the DBS Accelerator Demo Day got a sneak peek at the future of banking, as the founders of 11 startups from Hong Kong and around the world showcased impactful FinTech solutions to enhance the customer’s digital journey, data analytics, compliance transformation and more.
The 11 startups are Avoka, CUBE, cyberProductivity, Dathena Science, DOV-E, FinChat, Fractal Labs, Hyper Anna, Perx Technologies, Privé Technologies, and Squirro. They were selected from more than 180 applicants from around the world, including Hong Kong, Singapore, Israel, Switzerland, the UK and Australia. Their participation in the programme resulted in 26 use cases, of which about one-third are confirmed or potential proofs of concept.
Since the successful launch of DBS Accelerator in 2015, over US$16 million in funding has been raised, with all of the programme’s startup alumni successfully securing funding support or expanding their business in Hong Kong as a result of their participation.
With the digital revolution, DBS, which marks a milestone 50th anniversary in 2018, is a pioneering force in transforming the way banks serve, engage and interact with customers though FinTech innovation. This is reflected in the bold new positioning of “Live more, Bank less”, which embodies the belief that the bank needs to remain at the forefront of change in the next 50 years and beyond.
DBS Bank (Hong Kong) CEO Sebastian Paredes said, “New and innovative technologies are the game changers for financial services today and in the future. Through the success of DBS Accelerator and the Demo Day, we are actively helping to build an enabling FinTech ecosystem for innovation to flourish, by transforming how people access financial services, and making the market more accessible for innovative entrepreneurs and startups.”
Nest CEO Lawrence Morgan said, “At Demo Day, we are celebrating the phenomenal progress that the startups have made in commercialising and scaling their FinTech businesses in Hong Kong. At Nest, we believe that startup-corporate collaboration is a powerful way to drive innovation. We redesigned the programme to facilitate open innovation and collaboration, and we are excited to witness the business traction the startups have achieved throughout the programme.”