Eight firms make the final cut in DBS Accelerator program

November 21, 2017 18:27
Bill Eng (inset) is a co-founder of FinChat Technology, one of the eight finalists of the first phase of this year's DBS Accelerator program. Photos: Reuters, HKEJ

Eight startups have emerged as finalists in the first phase of the latest DBS Accelerator program that aims to support innovations and entrepreneurship in the fintech arena.

The eight finalists are Avoka, Dathena Science, FinChat, Metisa, Netki, Perx Technologies, Searchlnk, and Squirro, the Hong Kong Economic Journal reports.

They made the cut out of a list of more than 70 participating startups, according to the report.

The Accelerator program is a collaborative initiative between DBS Bank (Hong Kong) and Nest, a global innovation platform supporting entrepreneurs.

This year's program is its third edition, running on a new "always-on" format for startups that have the vision and potential to shape the future of finance using innovative fintech solutions.

FinChat Technology, one of the finalists, provides services of compliance monitoring and archiving tools for messaging for financial institutions.

When financial consultants communicate with their clients using instant messaging tools such as WhatsApp and WeChat, banks can protect interests of both parties by acquiring data of the relevant records.

Another startup is Metisa, which analyzes customers’ data such as age, income and gender to help banks formulate more effective promotion strategies for activities such as mortgage loans and credit card-related initiatives.

The tools will enable banks to get in touch with high-value customers, boosting the efficiency of the lenders while reducing the costs.

The accelerator program provides the finalists with a workspace measuring 5,000 square feet, as well as technical support, while assisting the startup finalists in reaching out to potential clients.

The finalists are recommended to angel investors on demonstration day, after the end of the accelerator program.

The theme of the second phase of the program will be announced later, with applications invited from more startups.

This article appeared in the Hong Kong Economic Journal on Nov 21

Translation by Jonathan Chong

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