Standard Chartered initiates two POCs with fintech startups

Credit: MIS ASIA

Credit: MIS ASIA

Two fintech startups under the second batch of the SuperCharger FinTech Accelerator have initiated Proof of Concept (POC) projects with Standard Chartered Bank in Hong Kong.

The first startup is Bambu, a business-to-business (B2B) robo-advisory company that builds intelligent software and investment solutions to improve the efficiency of wealth management.

The second is KYC Chain, which offers a platform that provides greater convenience and security to users of distributed ledger technology (also known as blockchain). The platform allows users to manage their digital identities securely while businesses and financial institutions are able to manage customer data in a reliable and easy manner.

Commenting on the achievement, Veronika Kuznetsova, SuperCharger's Managing Director, said: "Such an achievement highlights the effectiveness of SuperCharger as a sustainable model for facilitating dialogues between the decision makers of the financial industry and the forward-thinking techpreneurs from startups, which ultimately leads to the advancing of the fintech ecosystem in Asia."

SuperCharger FinTech Accelerator is a 12-week accelerator that aims to enable international growth stage companies to expand their operations within Asia. It is backed by Standard Chartered Bank and Fidelity International.

Fintech startups under the programme are given access to mentors to venture capitalists, government officials, as well as SuperCharger's 2,000 square feet co-working office.

"Standard Chartered Bank is proud to partner the Supercharger FinTech Accelerator Programme, which gives us the opportunity to team up with the brightest technology companies in our Asian footprint and to deliver the best service to our clients. We are delighted that the programme is taking place in Hong Kong, a key market for us, giving promising fintechs a springboard to the rest of Asia," saidShameek Kundu, Standard Chartered's Global Head of Data, Technology Strategy and Innovation.

SuperCharger FinTech Accelerator 3.0 will begin accepting applications in the summer of 2017.

Source: MIS Asia