Accenture identifies 10 innovative fintech startups in Asia Pacific

Accenture’s FinTech Innovation Lab
Accenture said its FinTech Innovation Lab, a 12-week mentoring program, has identified ten innovative startups in financial services technology (fintech) areas in the Asia Pacific region.

Accenture has conducted the fourth annual FinTech Innovation Lab Asia-Pacific Investor Day at Cyberport in Hong Kong. Launched by Accenture in June 2014, the FinTech Innovation Lab aims to enhance fintech innovation and drive high-tech job growth to mentoring.

Cindy Chow, executive director of the Alibaba Entrepreneurs Fund, spoke at the event about the technology innovation for growth.

“The financial institutions in Hong Kong are supportive of working with fintech startups to help address new challenges ranging from how best to adopt blockchain technology to how to fend off cybercrime,” said Piyush Singh, managing director at Accenture and head of the company’s Financial Services practice in Asia-Pacific.

10 startups

Blocko, a blockchain infrastructure provider in South Korea, offers digital identity, digital signatures and smart contracts. Blocko said Coinstack enables clients to share data with third parties in a cyber-security safe, efficient manner.

Hong Kong-based startup’s CoverGo tech platform consolidates insurance policies from different providers in one place for customers and analyzes them to highlight gaps in coverage. CoverGo said its app helps connect policyholders with their insurance advisors. CoverGo automates manual insurance processes to improve the quality of customer experience and engagement.

U.S. based FutureFlow enables financial institutions and regulators to collaborate, while protecting customer confidentiality. Its software compiles the topology of the movement of money in the system.

U.S.-based startup KapitalWise has built a cost-effective micro-investment platform, delivering personal investing literacy, rule-based micro investing empowered by machine learning and predictive analytics to retail users of financial institutions.

microUmbrella.com is a Singapore-based micro-insurance buying, managing and claiming platform offering on-demand protection for the digital economy. Its mobile app enables customers to buy bite-sized protection plans, as well as make a claim, all within minutes. MicroUmbrella.com is introducing an artificial intelligence-powered chat-bot for buying, managing and claiming insurance.

Red Pulse is a Hong Kong-based market intelligence platform employs machine learning and natural-language processing to automate and scale basic data collection, while incorporating cryptocurrency to create an open and transparent sharing economy for research.

Sherlock Garden, an Israel-based startup, provides software with cognitive capabilities for financial services companies to automatically detect compliance, ethics and confidentiality breaches. The software scans the customer’s computer systems, regardless of file formats, and search for textual information that holds risks or indicates negative situations of ethics and business conduct.

Starling, a U.S.-based applied behavioral sciences RegTech startup, offers risk intelligence tools to help financial services firms manage culture- and conduct-related risks, and identify areas for performance improvement. Starling’s predictive behavioral analytics technology combines machine learning, organizational network analytics and behavioral science.

The Singapore-based Stash, a healthcare and insurtech startup, provides health claims platform for patients, health care providers and insurance companies. The company analyzes claims data to help health providers and insurance companies prevent fraud risk in claims processing and management, while also reducing administrative costs.

Tymbals, an Australia-based insurtech startup, created a probability network to calculate enterprise risk. It aims to provide cost-effective service to help C-suite executives manage their businesses by using machine learning to populate and maintain distributed ledger of enterprise risk.

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