This month multinational management consulting, technology services and outsourcing company Accenture, together with 10 of the biggest financial institutions in Asia, announced the launch of a competitive search for the best financial technology innovators in the Asia-Pacific (APAC) region.
Those selected will be included in the FinTech Innovation Lab Asia-Pacific, which is a 12-week programme aimed at helping start-ups accelerate their product development and get noticed by top financial industry executives. Applications can be submitted from 1 July to 31 July, 2014.
APAC firms engaged in the development of potentially ground-breaking technologies for financial services are welcome to apply. In particular, applications are sought from entrepreneurs working in the areas of Big Data and analytics, mobile and wireless, payments, risk management, security, compliance, and social media and collaboration technologies.
The applications will be reviewed by a panel of senior bank executives from Bank of America Merrill Lynch, Bank of China (Hong Kong), Barclays, China Construction Bank (Asia), DBS, HSBC, J.P. Morgan, Morgan Stanley, Ping An and UBS. They will select up to seven winners who will participate in the FinTech Innovation Lab in Hong Kong.
The programme will kick off at the end of September 2014. It will involve top financial services industry executives who will provide mentoring to the selected candidates, helping them develop both their technologies and their business strategies. To that end, the programme is planned to involve special workshops, panel discussions, user-group sessions as well as one-on-one meetings and presentations.
The announcement included comments by Sushil Saluja, senior managing director of Accenture's Asia-Pacific Financial Services practice, who said the programme will help start-ups successfully expose their innovative products to the attention of financial institutions.