DBS ACCELERATOR DRIVING TOWARDS FINTECH FUTURE


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Startups to benefit from new dynamic “always-on” programme format




Hong Kong, 22 June 2017 – With an evolving FinTech landscape that is rapidly maturing into the mainstream, DBS Bank (Hong Kong) and Nest, a global innovation platform supporting entrepreneurs, are enabling startup success with a dynamic new “always-on” DBS Accelerator programme format.

DBS Accelerator aims to better embed new FinTech technologies in banks by creating opportunities for innovators from across Asia and around the world to transform the digital agenda. Now in its third year, the programme is a key go-to hub in Hong Kong for startups with the vision and potential to shape the future of finance with innovative FinTech solutions.

Under the new “always-on” programme format, DBS Accelerator will host startups year round to continuously help strengthen the bank’s key transformational journey, which will be refreshed throughout the year. Participating startups will have the chance to explore collaborative opportunities with the bank. The first batch of startups will be focused on impactful ways to enhance the customer’s digital journey, the bank’s risk management, as well as cryptocurrency, blockchain and cybersecurity.

Applications from FinTech startups are now welcome via www.dbs-accelerator.com, where more details of the programme are available. Applications are accepted all year round, with the first batch of applications closing for review on 31 July 2017.

DBS Bank (Hong Kong) CEO Sebastian Paredes, said, “Dynamic new ways to enhance risk management, cybersecurity and the digital customer journey, and opportunities to apply blockchain and cryptocurrency technologies, are helping banks transform through FinTech innovation. With the success of the DBS Accelerator programme, we are excited and committed to driving progress towards a FinTech future.”


Nest CEO Lawrence Morgan said, “At Nest, we believe that open innovation and collaboration will enable and empower FinTech startups and corporates to not only address changing consumer needs but to do so at a faster pace with more meaningful impact. We’re excited to pioneer this new programme format with DBS to further this open innovation movement and achieve positive business outcomes for both DBS and FinTech startups around the world.”

About DBS Accelerator

DBS Accelerator is a collaborative initiative between DBS Bank (Hong Kong) Limited and Nest, a global innovation platform supporting entrepreneurs. The “always-on” accelerator programme is housed in “The Vault”, a state-of-the-art 5,000-square foot workspace in the heart of Wan Chai. Participating startups have access to vast resources and mentor support, and are guided through their business growth and development.

DBS Accelerator is also supported by industry leading partners, including Amazon Web Services, HKUST Business School, IBM, InvestHK, and Thomson Reuters. Ovolo Hotels is the programme’s accommodation partner.

DBS named World’s Best Digital Bank

DBS, which was named World’s Best Digital Bank by Euromoney, has and continues to invest considerable resources to drive innovation and digital banking, with many notable examples of first-in-market and award-winning initiatives to effectively realise a seamless and joyful customer experience. Among them is the DBS Omni Credit Card Companion Mobile App, which features four major first-in-market innovations for a safe, secure and joyful banking experience for DBS credit card customers.

In another groundbreaking industry first, SMEs in Hong Kong can easily open business accounts with DBS without ever having to set foot in the bank’s branches. The “Meet Online” Business Account Opening Service marks an innovative, first-of-its-kind breakthrough that transforms the traditional business account opening process for SMEs into a seamless and engaging online experience that can be completed anytime and anywhere. “Meet Online” eliminates the hassle of scheduling face-to-face meetings at bank branches during office hours by enabling SME customers to meet with the bank's relationship manager and complete the due diligence process via video


conferencing.

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