The FinTech Innovation Lab Asia-Pacific is an annual accelerator program run by Accenture in collaboration with Hong Kong Cyberport and the world’s top financial institutions. Going into its eleventh year, the APAC Lab is back and accepting applications now!
We are looking for growth-stage, scaleup companies that have developed cutting-edge technology products targeted at the financial services sectors. Join us to explore your FinTech evolution as the Lab brings together innovators, leaders from financial institutions, regulators, investors and many others in order to accelerate the FinTech growth and adoption in the region.
We run the program from Hong Kong in a trusted, collaborative and non-sales environment. Our annual accelerator program is your opportunity to work with potential future customers to test your product market fit, gain unique insights into the financial services industries, and build strong relationships.
The program will run in a hybrid format this year with a combination of virtual and in-person meetings. The finalists are expected to be in Hong Kong physically to participate in the Welcome Reception on the week of 24 June and Demo Day in October this year.
Why Join us?
- No fees no equity: Free to apply, and no equity stake taken by the FinTech Innovation Lab Asia-Pacific or Accenture.
- Access: Access to a powerful network of key decision-makers, as well as access to our founder network, investor network, and Accenture’s broader ecosystem.
- Mentorship: Mentorship from a group of independent mentors, Accenture leaders, Financial Institution partners, leveraging their expertise and knowledge.
- Impact: Proof of Concepts (POCs) or commercialisation with the help of the world’s leading financial institutions and Accenture.
What Are We Looking For?
The APAC Lab is seeking companies leveraging innovative technologies in below areas:
By Track:
FinTech/Banking/Capital Markets
- Client experience: How might we improve client experience, such as faster onboarding, product customisation, or retention?
- Risk and Compliance: How might we help financial institutions maintain regulatory compliance from fraud detection to trade surveillance?
- Wealthtech: What are the latest innovations in this field, including but not limited to robo-advisors, investment apps?
Insurtech/Insurance
- Claims Management: How might we improve auto-adjudication for claim cases or policy underwriting?
- Digital Client Engagement: How to make customer servicing more convenient and easy; and to empower agents to sell more?
- Health Ecosystem: How not to be sick, instead of treating clients when they are sick, to achieve life time spending uplift?
- Risk & Compliance: How might we tighten oversight of sales process and automate testing & monitoring?
By Themes:
Generative AI
- How to use Generative AI to improve data analysis, advisory services, risk management or improve operational efficiency?
Green Fintech
- How might we support banking and insurance companies with net zero transition?
Web3
- What are the latest innovations in Web 3 including but not limited to Digital Assets, Tokenization, CBDC?
Guangdong-Hong Kong-Macao Greater Bay Area (GBA)
- How might we better support Cross-border payments / GBA integration?
Scoring criteria:
- Impact: This company’s product/solution would be impactful to client organisation
- Innovation & Uniqueness: it addresses an unmet need in the market. It is unique and well-differentiated from its competitors in the market.
- Leadership: leadership team has a mix of technical expertise, industry knowledge and entrepreneurial experience.
- Proof of concept: solution already tested with a FS client (as POC at least).
- Regional relevance: either physically, or soon-to-be, in Hong Kong with ambitions in the whole region.
- Regulatory compliance: ensure that legal aspects have been considered to avoid incompatibility with regulated activities.
- Scalability: potential for scaling with multi-product and multi-location approach.
- Security: strong cybersecurity measures and data protection policies in mind aligned with standards in the industry.
- Technology robustness: the startup has technical integration with financial institutions infrastructure in mind – through robust API or native integration with existing systems.
Additional Points:
- Women in tech: 20% female representation in the leadership
Whilst the above themes are the priorities for the FinTech Innovation Lab Asia-Pacific in 2024, there will still be consideration given to applications that do not immediately fit into these themes but present a compelling and innovative solution for financial services.
Interested in being a part of the 2024 cohort? Apply now here!
If you have any questions, please do reach out to [email protected], and we’ll get back to you as soon as possible.
About Accenture FinTech Innovation Lab Asia Pacific
FinTech Innovation Lab Asia Pacific is a highly competitive, annual accelerator program that helps growth-stage startups refine and test their value propositions with the support of the world’s leading financial institutions. Find out more here.
About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 743,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.
About Cyberport
Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 2,000 members including over 900 onsite and over 1,100 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in public and private sectors. For more information, please visit www.cyberport.hk
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