10 Startups Selected for Accenture’s 2020 FinTech Innovation Lab Asia-Pacific
Accenture and 19 leading financial services firms to mentor financial technology entrepreneurs in seventh annual program

HONG KONG; Oct. 5, 2020 – Ten leading fintech companies have been selected for the seventh annual FinTech Innovation Lab Asia-Pacific, a mentorship program created by Accenture (NYSE: ACN) that helps startups fine-tune their business plans and solutions by pairing them with mentors from leading financial institutions.

This year’s program received applications from 162 companies across more than 30 countries, with solutions related to the five themes for the 2020 program: data & analytics; digital bank solutions; emerging technologies; health insurance ecosystem; and intelligent automation.

Leveraging artificial intelligence (AI), advanced analytics, natural language processing and other technologies, the 10 selected startups — which hail from seven markets — have developed innovations designed to help financial institutions address a variety of challenges, including keeping up with compliance requirements, analyzing large volumes of structured and unstructured data, and building more-personalized customer products and services.

The Lab will partner startups with senior executives from the participating financial institutions, as well as with technology entrepreneurs and industry experts. The mentors will work with the companies to further develop their solutions and business strategies through a series of virtual meetings, user-group sessions, workshops and networking opportunities, helping them connect with potential customers at top institutions.

“The quantity and high caliber of this year’s applicants have resulted in an extremely strong class for the 2020 program, and the pandemic has not stopped the demand for more innovation in financial services,” said Ravinder Chhabra, a managing director at Accenture and the executive sponsor of the FinTech Innovation Lab Asia-Pacific program in Hong Kong. “In fact, we’re seeing more firms accelerate their digital transformation journeys, and investors are increasingly looking at fintech solutions to help banks, insurers and payments firms improve how they operate and serve customers. We remain committed to nurturing a healthy forum for startups and financial institutions to learn from each other and continue to innovate.”

The FinTech Innovation Lab Asia-Pacific is a collaboration between Accenture and leading financial institutions, which this year include AIA International Limited; Bank of America; BlackRock; China Construction Bank (Asia); Credit Suisse; Dah Sing Bank; Generali; Industrial and Commercial Bank of China (Asia) Limited; J.P. Morgan; Macquarie Group; Maybank; Morgan Stanley; Natixis; Saxo Markets; Société Générale; SC Ventures by Standard Chartered; Sun Life; ZA International; and Zurich Insurance Company Ltd.

The 2020 Lab formally kicks off this week and culminates in December, when the participants will present their solutions at a virtual Demo Day to an audience of venture capitalists and financial industry executives.

The 2020 FinTech Innovation Lab Asia-Pacific participants are:

Fano Labs

Launched in Hong Kong in June 2014, the FinTech Innovation Lab Asia-Pacific has received more than 1,000 applications since its inception, and the program’s 49 alumni companies have raised US$525 million and created more than 1,500 jobs after participating in the program.

The FinTech Innovation Lab Asia-Pacific is modeled on similar programs that Accenture co-founded in New York and London in 2010 and 2012, respectively. Globally, the Labs’ alumni companies have raised, in total, approximately US$2 billion in venture financing after participating in the program.

About Accenture
Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries — powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 506,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com.

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Junaidah Dahlan
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Natalie de Freitas
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