Bangkok fintech accelerator announces second stage

Source: Nest

Following the success of Bangkok Bank InnoHub in 2017, the first global FinTech accelerator in Thailand, Nest and Bangkok Bank announce today season 2 of the programme and are now accepting applications from around the world.

This programme aims to help startups locally and internationally validate their solutions and scale their business, by developing innovative products and services suitable for the Thailand and Southeast Asia markets.

Thailand is quickly establishing itself as a global startup hub, and the first InnoHub programme was instrumental in highlighting some of Thailand’s own startup talent. FundRadars, a local startup, completed a successful proof-of-concept (POC) demonstration on the first programme, and is currently working with the bank’s subsidiary BBL Asset Management on a new mobile application. Since the programme, FundRadars has been scaling across ASEAN with multiple partnerships.

In InnoHub Season 2, Nest will continue to facilitate the development of local startups expanding globally while also providing international startups with regional insights to enter Thailand.

Nest will work closely with Bangkok Bank’s business units and the startups to ensure the solutions are a good match for the bank’s needs, resulting in quicker and more POCs.

Nest CEO Lawrence Morgan said “Nest is uniquely positioned to offer high-potential startups the opportunity to scale with its integration driven approach. We’re excited to bring our expertise on bridging ecosystems together, helping high growth startups to connect and collaborate with leading financial institutions to achieve commercial outcomes. Our mission is to help startups validate their solutions and scale their businesses and as we launch our new programme with Bangkok Bank, we are pushing corporate innovation to the next level.”

Bangkok Bank President Chartsiri Sophonpanich said that Season 2 under the theme Inspiring Change – Unleash the Potential reflects the bank’s intention to be a digital banking leader.

“We believe that encouraging world-class technology companies to build networks and partnerships in Thailand and across ASEAN will help to enhance Thailand’s broader financial ecosystem.

“This approach will help to drive an innovation mindset and strengthen internal working processes and culture between the bank and others in the ecosystem. We look forward to developing new initiatives through our direct engagement with the startups.”

In addition to receiving expert coaching from mentors and Nest, the startups will be able to work with other companies in the Bangkok Bank financial group, while tapping into the local knowledge of the bank’s international branch network. In some cases there will also be the opportunity to raise funding through the bank’s business networks.

Mr. Chartsiri says Bangkok Bank InnoHub reflects the bank’s focus on innovation and the future and the way it helps customers adapt to the uncertainties of a changing world.

Season 2 of Bangkok Bank InnoHub powered by Nest is a 12-week accelerator programme focusing on creating a unique customer experience for general and SME customers while transforming existing banking experience through digitalisation, automation, payments and cutting-edge technology. With numerous mentors from among Thai and international financial experts, startups will be able to leverage these interactions and resources to utilise Thailand as a test market for scaling their businesses. Bangkok Bank InnoHub is looking for leading technologies and startups both locally and globally to define the future of banking together.

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