DBS Accelerator Sparks FinTech Innovation in Hong Kong and Asia

DBS ACCELERATOR SPARKS FINTECH INNOVATION IN HONG KONG AND ASIA
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Applications are open to innovative FinTech startups for DBS Hong Kong’s second accelerator programme

Hong Kong, 8 April 2016 – FinTech solutions in artificial intelligence, data analytics, blockchain, wealth management and more are among the areas of focus being targeted for the second round of the DBS Accelerator programme, by DBS Bank (Hong Kong) Limited and NEST.

Applications for the second DBS Accelerator are now open and founders can apply via www.DBS-accelerator.com. Aimed at innovative and scalable FinTech startups, the accelerator programme supports startup businesses and entrepreneurs from around the world in delivering breakthrough innovations and technologies in FinTech to make an impact on the world of finance.

Since the successful launch of last year’s inaugural DBS Accelerator, the FinTech and startup scene in Hong Kong has continued to flourish and develop. DBS Accelerator, which was highlighted in a recent Steering Group on Financial Technologies (FinTech) report on ways to further Hong Kong’s development as a FinTech hub, is playing a key role in fostering opportunities for innovators from across Asia and around the world to shape the future of finance. With DBS Accelerator, DBS Bank (Hong Kong) Limited is embracing the transformative power of FinTech-focused disruptive technologies to spark innovation and create an impact beyond banking.

From the Vault, a dedicated state-of-the-art 5,000-square foot workspace in the heart of Wan Chai, DBS Accelerator startup participants will be guided through their business growth and development with the help of business mentoring from DBS Bank (Hong Kong) Limited and NEST senior executives as well as other partners.

DBS Bank (Hong Kong) Limited CEO Sebastian Paredes said, “At the heart of the DBS Accelerator programme is our commitment to shape the future of finance by transforming how we operate and serve our customers through digital innovation. The success of DBS Accelerator shows that the FinTech startup ecosystem has a firm foundation in Hong Kong as a dynamic platform to foster talent, drive groundbreaking innovation and deliver tremendous opportunities for growth.”

Simon Squibb, CEO of NEST, said, “We are very excited to be working with DBS Hong Kong again on a project that is making a real and valuable contribution to the development of FinTech in Asia. Our first cohort featured 10 exceptional entrepreneurs from around the globe but they had one thing in common – aspirations to build their business in Hong Kong and scale it across Asia and beyond. Our programmes give founders access to a network and support that can make a difference. As we embark on another chapter, I am personally looking forward to working with the companies in the new cohort to give them the best possible chance of success.”

Applications close at 12 midnight on 5 June 2016. The programme commences in late July 2016 in Hong Kong, and concludes with a Demo Day, scheduled for November 2016.

DBS Accelerator is also supported by industry leading partners, including Amazon, Microsoft, IBM, InvestHK, KPMG, Samsung, Yodlee and Thomson Reuters. Ovolo Hotels is the programme’s accommodation partner.

Considerable resources are being invested by DBS to drive innovation and digital banking. In 2014, DBS announced plans to invest over HKD 1 billion over three years to better harness digital technologies. This is on top of some HKD 6 billion the bank has invested in strategic technology initiatives.

DBS is also promoting an innovative and digital mindset among employees. The bank piloted its first hackathon in Singapore and organised a Greater China hackathon for about 75 talented employees from Hong Kong, China and Taiwan. In total, more than 250 DBS employees and 160 startups from across the region have participated in the hackathons to co-create some 50 prototypes.

DBS’ mobile banking apps strategy was ranked number one in the world by Swiss research firm MyPrivateBanking for the second year running in 2014. DBS was also named “Best Private Bank in Use of Technology, Global” by PWM/The Banker magazine.
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About DBS
DBS – Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s capital position, as well as “AA-” and “Aa1” credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

About Nest
‘Entrepreneurs Empowering Entrepreneurs’
Hatched in 2010, Nest is a full service early-stage venture capital firm focused on helping startups and talented founders from around the world build businesses that apply and commercialise innovation.

Nest partners with leading corporations to run a series of mentor-driven accelerators. Designed to support the needs of high potential and fast growth startups, these programmes include a unique mix of resources that enable entrepreneurs to build and scale their businesses rapidly.
Nest was founded in Hong Kong and has presence in Nairobi, London, Paris, New York, Los Angeles, Singapore and Bangkok.

For more information, please contact

Dennis Eng
Group Strategic Marketing & Communications
DBS Bank (Hong Kong) Limited
Email: cheyeungdennis@dbs.com
Tel: (852) 3668 6116

Venus Tsang
Group Strategic Marketing & Communications
DBS Bank (Hong Kong) Limited
Email: venustsang@dbs.com
Tel: (852) 3668 5608

Gigi Wong
Group Strategic Marketing & Communications
DBS Bank (Hong Kong) Limited
Email: gigiwong@dbs.com
Tel: (852) 3668 6114

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