PRESS RELEASE • 9 APRIL 2018
DBS Accelerator Expanding Digital Innovation Horizon
Six new startups driving change in customer digital experience, data analytics, compliance transformation and more
Six FinTech startups from across Asia and around the world kicked off DBS Accelerator in Hong Kong this year, seeking to shape the future of finance with innovative solutions in enhancing the customer’s digital journey, data analytics, as well as compliance transformation and more.
The six startups are CUBE, cyberProductivity, DOV-E, Fractal Labs, Hyper Anna, and Privé Technologies. This brings the total number of DBS Accelerator participants to over 30 since the DBS Bank (Hong Kong) programme’s successful launch in 2015. All of the programme’s startup alumni have successfully secured funding support or expanded their business in Hong Kong as a result of their participation in DBS Accelerator. DBS, which marks a milestone 50th anniversary in 2018, continues to be a pioneering force in transforming the way banks serve, engage and interact with customers though FinTech innovation.
DBS Bank (Hong Kong) CEO Sebastian Paredes, said, “DBS Accelerator has helped spearhead our successful efforts to expand our collaboration with FinTech startups and seek new horizons in digital innovation. We believe the mutual exchange of knowledge and best practices with the FinTech ecosystem will foster startup success and help shape the future of finance.”
Nest CEO Lawrence Morgan said, “As we welcome our new cohort, we’re proud to share that the majority of startups from the first intake achieved proofs of concept with the bank, further validating the programme’s role in helping businesses scale and the need for startups and corporates to work together as we continue to drive innovation in banking.”
About DBS Accelerator
DBS Accelerator is a collaborative initiative between DBS Bank (Hong Kong) Limited and Nest, a global innovation platform supporting entrepreneurs. The “always-on” accelerator programme is housed in “The Vault”, a state-of-the-art 5,000-square foot workspace in the heart of Wan Chai. Participating startups have access to vast resources and mentor support, and are guided through their business growth and development.
DBS Accelerator is also supported by industry leading partners, including Amazon Web Services, Bird & Bird, HKUST Business School, IBM, InvestHK, and Thomson Reuters. Ovolo Hotels is the programme’s accommodation partner.
Connect · Collaborate · Scale
Nest operates corporate accelerator programmes, invests in seed to growth-stage startups, and runs an entrepreneurial community called Mettā. Nest has built an innovation ecosystem to connect the fast-growing markets of Asia, the Middle East, and Africa.
With a mission to empower great entrepreneurs to change the way we live, Nest provides access - for startups to scale and commercialise; and for corporates to foster innovation. Since 2015, over 140 startups have been accelerated via Nest’s corporate and government programmes across a broad range of industry sectors.
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 "AA-" and "Aa1" credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. 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 24,000 staff, representing over 40 nationalities.