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HKSTP’s BFSI Accelerator 2021 Attracts 130+ Proposals from Tech Ventures across 30 Global Markets, Proof of Hong Kong's Potential as a Regional FinTech Hub

Demo Day brought together BFSI partners and startups to showcase potential fintech solutions and highlight emerging opportunities for financial sector


28 Sep 2021


Photo 1 & 2: The BFSI Accelerator is hosted by HKSTP in cooperation with 17 multinational corporate partners in banking, financial services, and insurance industry, as well as 18 supporting organisations from across the globe ranging from private companies to governments.

(Photo 1)Ray Kung, Head of Strategic Partnership, HKSTP (3rd from the left, front row), with representatives from the BFSI Accelerator’s corporate partners

(Photo 2) Ray Kung, Head of Strategic Partnership, HKSTP (middle), with representatives from the BFSI Accelerator’s supporting organisations

Photo 3: Eight tech ventures showcased their pioneering solutions during BFSI Accelerator 2021 Demo Day.

Photo 4: A fire side chat on “FinTech 2025: Regtech, Sustainability and more” explored opportunities in regtech and sustainability. Speakers included representatives from Hong Kong Monetary Authority, FinTech Association of Hong Kong, Bay Area Capital Partners Limited and Bowtie Life Insurance Limited.

Hong Kong, 28 September 2021) – Hong Kong Science and Technology Parks Corporation (HKSTP) today held its Banking, Financial Services and Insurance (BFSI) Accelerator 2021 Demo Day, to mark the conclusion of an accelerator programme which has attracted promising tech ventures from around the world to accelerate future proof innovation for Hong Kong’s financial sector.

The BFSI Accelerator is hosted by HKSTP in cooperation with 17 multinational corporate partners in banking, financial services, and insurance industry, as well as 18 supporting organisations from across the globe ranging from private companies to governments. The programme which launched in January this year, brought together tech ventures from both Hong Kong and globally to develop technology solutions to solve real-world challenges faced by the BFSI partners and help unlock the future of Hong Kong’s financial industry.

The accelerator addresses four key areas in operational efficiency, customer experience, wealth management, and regulation and compliance. Over 130 proposals were received from 30 global markets, of which 70 solutions were shortlisted. Of those shortlisted, five proposals will be adopted or developed into proof-of-concepts, and 14 tech ventures are in active talks with BFSI partners to pursue wider adoption of 16 solutions.

Albert Wong, CEO at HKSTP, said: “It is great to see the overwhelming response from around the world which is further proof of Hong Kong’s potential to become a major regional fintech hub. The rise in digital adoption by BFSI companies embracing corporate innovation is also equally encouraging for the growth of fintech in Hong Kong. By bringing our BFSI partners together with tech ventures that are at the edge of the latest technology, the accelerator programme has created mutual benefits, helping both sides capture new growth opportunities. The results of the BFSI Accelerator is a testament to HKSTP’s commitment to driving innovation and technology success across all corners of our economy.”

BFSI partners include Bank of China (Hong Kong); China CITIC Bank International; China Construction Bank (Asia); Citibank Hong Kong; DBS Hong Kong; Fubon Asset Management; Fusion Bank; Hang Seng Bank; HSBC; Mastercard; Prudential Corporation Asia; SC Ventures by Standard Chartered; SCOR; The Bank of East Asia; WeChat Pay Hong Kong and WeLab Bank.

The Demo Day saw BFSI partners share their insights and experience throughout the programme. A fire side chat on “FinTech 2025: Regtech, Sustainability and more” explored opportunities in regtech and sustainability. Speakers included representatives from Hong Kong Monetary Authority, FinTech Association of Hong Kong, Bay Area Capital Partners Limited and Bowtie Life Insurance Limited. The event also demonstrated fintech solutions from eight tech ventures that address challenges facing BFSI sector.

Appendix:

Eight tech ventures showcased their pioneering solutions during BFSI Accelerator 2021 Demo Day:

Tech Ventures

Solution Overview

Applied Technology Group Limited

ClinicOne provides a one-stop healthcare and diagnostic platform serving individual clinics, healthcare enterprises, NGOs, academies and large private hospitals. With the success of HealthTech, it has developed a series of AI Selfie-nostic tools for instant healthiness assessment based on one simple selfie, enabling precise and instant digital underwriting for insurance companies to enhance claim settlement.

Datago Technology Limited

With its information-rich knowledge graph and real-time data analytics services, clients are able to extract value and insights from large amounts of information quickly and easily, helping them to enhance returns, reduce risks, and improve operation efficiency. Its models can handle both traditional Chinese and simplified Chinese in Cantonese and Mandarin.

Eureka FinTech Limited

Its solution integrates vendor and bank databases into one single 4D KYC platform, utilising AI and graph technologies. The platform provides clients with easily accessible information resources, efficient cross-border searching results, compliance scores and transaction monitoring, helping them analyse potential risks from supply chains and business relationships.

Fano Labs

Solutions include speech analytics, voicebot, chatbot, and voice biometrics, serving the needs of BFSI industries, regulators, public service providers and retailers. By leveraging Automatic Speech Recognition (ASR) and deep learning technologies, its interactive analytic system can monitor omni-channel interactions, identify additional sales opportunities, and reduce handling time.

FreightAmigo Services Limited

It leverages fundamental technologies like AI, blockchain, big data, open API and cloud computing to provide services such as Instant Quote (over 120,000 quotations/quarter - 5 logistics service modes), FinTech Solution, Cargo Insurance and Customs Clearance 24x7.

Mojodomo Hong Kong Limited

Its Loyalty Voucher is a one-stop service for marketers to engage their customers without any pre-payment and time-consuming negotiation with merchants. The zero voucher waste approach enables marketers to reach an exponential new ROI level, while merchants can capture high quality data and new businesses. Customers can also experience a convenient and seamless journey with hyper-personalised reward choices.

Six Facet Limited

Its solution supports co-browsing and co-editing functions for clients and servicing staff. It helps complete non-face-to-face business processes, including form filling, signature, and document review and submission using mobile phones, tablets or PCs, enhancing customer experience and facilitating business collaboration across enterprises.

Wizpresso Limited

It develops technologies underpinned by NLP and deep learning to automate financial, legal and business due diligence. Its solution, Factify, streamlines the verification process in a secured collaborative workspace. It removes communication barriers between participants, improves sales capacity, and enhances market transparency.

 

A full list of shortlisted tech ventures is available at https://stp.hk/gaabfsi2021.

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