FinTech Innovation Lab Asia-Pacific, a mentorship programme created by Accenture and run in Hong Kong, has announced the 10 startups selected for the seventh season.
Of these, three are from Singapore.
According to a press note, the 10 companies were selected from a total of 162 applications received from more than 30 countries.
Also Read: Tapping accelerator partnerships to fuel APAC growth
This year’s programme is based on five themes — data & analytics, digital bank solutions, emerging technologies, health insurance ecosystem, and intelligent automation.
Leveraging Artificial Intelligence (AI), advanced analytics, natural language processing and other technologies, the 10 selected startups have developed innovations designed to help financial institutions address a variety of challenges.
The 2020 programme formally kicks off this week and culminates in December when the participants will present their solutions at a virtual demo day to an audience of VCs and financial industry executives.
Also Read: Border-crossing and financial inclusion: The story of fintech in ASEAN
Below are the three Singapore firms that made to the list:
Symbo
It uses its proprietary platforms to digitise insurance distribution in partnership with insurance providers. Its mobile app helps insurers digitally engage with intermediaries, tied agents and financial advisors by simplifying insurance transactions.
Staple
Its cognitive AI-based solution helps reduce the costs of back-office operations, such as compliance and on-boarding checks. By combining computer vision, natural language processing, optical character recognition and machine learning, the solution can read, interpret and extract data from documents at scale, regardless of layout, format or language.
UVAS
A product of Atlant.io, UVAS is a securities exchange offering primary issuance of shares and debentures, secondary trading and optimised post-trade process, with automatic clearing, settlement and custody, all at 90-95 per cent cost savings compared to other exchanges.
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Image Credit: FinTech Innovation Lab
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