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 Applications will soon open for Asia-Pacific's fourth annual FinTech 
 Innovation Lab, Accenture's ACN 12-week program that helps early- 
 and growth-stage fintech companies accelerate product and business 
 development by gaining exposure to top financial institution executives. 
 Applications can be made at <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fintechinnovationlab.com%2F&amp;esheet=51541657&amp;newsitemid=20170418005150&amp;lan=en-US&amp;anchor=www.fintechinnovationlab.com&amp;index=1&amp;md5=ebadb14d99d5cd9373637cbb544298e6" rel="nofollow" rel="nofollow">www.fintechinnovationlab.com</a> 
 between April 24, 2017 and May 31, 2017.
 
 
 Investments in Asia-Pacific fintech companies are on the rise: during 
 the first quarter of 2017, investments totaled $1.1 billion, 
 representing 21% of the $5.1 billion invested into fintech companies 
 globally, based on Accenture analysis of CB Insights data.
 
 
 "Fintech isn't new or hot, it's a basic requirement; it has to be a part 
 of standard operating procedures for financial institutions today 
 because if you're not innovating you're not keeping pace with what your 
 customers want and you need to do for your business," said Jon Allaway, 
 senior managing director at Accenture and the executive sponsor of 
 the FinTech Innovation Lab Asia-Pacific. "But startups still struggle to 
 meet senior executives of financial institutions unless they get an 
 introduction through programs like our Lab."
 
 
 The FinTech Innovation Lab Asia-Pacific is for entrepreneurs that are 
 developing cutting-edge and disruptive technologies for the financial 
 services sector – particularly in the areas of big data; analytics and 
 cognitive computing; security and identity management; risk management 
 and compliance; digital marketing and social media; cloud; payments; 
 blockchain technology; talent management; and, Internet of Things 
 applications.
 
 
 Chief technology officers and senior technology executives from the 
 financial institutions will select up to eight of the applying fintech 
 companies to participate in the Lab through a competitive process and 
 will then provide them with intensive in-person mentoring in Hong Kong.
 
 
 The principal financial institutions are: Bank of America Merrill Lynch, 
 Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, HSBC, J.P. 
 Morgan, Macquarie Group, Morgan Stanley, Nomura, Societe Generale, Sun 
 Life Financial. In addition, supporting financial institutions and 
 investment firms include: China CITIC Bank International, China 
 Construction Bank, Manulife, Maybank, Point72 Asset Management, Siam 
 Commercial Bank, Sumitomo Mitsui Financial Group (SMFG).
 
 
 Applicants must have a working beta version of their technology. The 
 Lab, which begins on August 21, 2017, will partner the chosen fintech 
 entrepreneurs with senior-level financial institution executives and 
 leading technology entrepreneurs, to help them fine-tune and develop 
 their technologies and business strategies through a series of 
 workshops, panel discussions, user-group sessions, networking 
 opportunities, one-on-one meetings and presentations. Cyberport, which 
 houses the largest fintech community in Hong Kong, will provide work 
 space to participating entrepreneurs, and J Plus Hotel by YOO will 
 assist with accommodations. The Lab culminates in November 2017 with a 
 Demo Day presentation by selected participants in front of an audience 
 of venture capitalists and financial industry executives.
 
 
 "The program provides an excellent opportunity for start-ups in Asia 
 Pacific to connect to our global financial and technology expertise," 
 said Simon Lucocq, head of Asia-Pacific technology &amp; operations at Bank 
 of America Merrill Lynch. "As a global financial institution, we're 
 investing US$3 billion in technology growth initiatives – specifically 
 in digital, mobile and online platforms. Here in Asia Pacific, we 
 believe we can play a valuable role in fostering start-ups to be 
 sustainable and successful companies."
 
 
 "HSBC is committed to participating in and enriching the fintech 
 ecosystem in Hong Kong. Fintech is one of the key pillars supporting the 
 growth of this important international financial centre," said Raymond 
 Cheng, HSBC's chief operating officer for Asia-Pacific. "During the past 
 three years, we have mentored dozens of start-up and new technology 
 companies, offered expert advice on their fintech services and products 
 and performed proof-of-concept on their cutting-edge technologies in the 
 banking environment. Working with these companies, we have launched 
 innovative ways to make banking faster, easier and safer."
 
 
 The FinTech Innovation Lab Asia-Pacific is modelled on a similar program 
 that Accenture co-founded in 2010 with the Partnership Fund for New York 
 City, the US$150 million investment arm of the <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fpfnyc.org%2F&amp;esheet=51541657&amp;newsitemid=20170418005150&amp;lan=en-US&amp;anchor=Partnership+for+New+York+City&amp;index=2&amp;md5=a4420e16d20fdfa38a7f7860bf0df2d5" rel="nofollow" rel="nofollow">Partnership 
 for New York City</a>. In 2012, Accenture and a dozen major banks in 
 London launched the FinTech Innovation Lab London, with support from the 
 city's mayor and other government bodies. In 2014 Accenture launched the 
 FinTech Innovation Lab Asia-Pacific, in Hong Kong, as well as a Lab in 
 Dublin. Globally, the Labs' alumni companies have raised more than 
 US$480 million in venture financing after participating in the program.
 
 
 About Accenture
 
 
 Accenture is a leading global professional services company, providing a 
 broad range of services and solutions in strategy, consulting, digital, 
 technology and operations. Combining unmatched experience and 
 specialized skills across more than 40 industries and all business 
 functions – underpinned by the world's largest delivery network – 
 Accenture works at the intersection of business and technology to help 
 clients improve their performance and create sustainable value for their 
 stakeholders. With approximately 401,000 people serving clients in more 
 than 120 countries, Accenture drives innovation to improve the way the 
 world works and lives. Visit us at <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.accenture.com%2F&amp;esheet=51541657&amp;newsitemid=20170418005150&amp;lan=en-US&amp;anchor=www.accenture.com&amp;index=3&amp;md5=047821e49275d0e732455e0c152ad481" rel="nofollow" rel="nofollow">www.accenture.com</a>.
 
 
 
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Press Releases

Accenture and Leading Financial Institutions Call for Applicants for the Asia-Pacific FinTech Innovation Lab 2017 - Accenture (NYSE:ACN)

Accenture

Accenture and Leading Financial Institutions Call for Applicants for the Asia-Pacific FinTech Innovation Lab 2017


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