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HKSTP launches banking accelerator

Image Credits: HKSTP, Press Release

Hong Kong Science and Technology Parks Corporation (HKSTP) has launched the Banking, Financial Services & Insurance Accelerator 2021 (BFSI Accelerator). The BFSI Accelerator is designed to shape the future of the BFSI industries by bridging corporates and innovators to deliver breakthrough technologies and create a wide array of new business opportunities in the world of banking, financial services and insurance.

The Chief Corporate Development Officer of HKSTP stated that at its very core, innovation allows you to unlock new business opportunities, especially when the pandemic accelerated the adoption of technologies by some 8 to 10 years. Organisations are realising that rapid innovation, now more than ever, is a must for surviving under the new norm.

The BFSI Accelerator will take stakeholders beyond the existing boundaries of traditional banking, financial services and insurance. Building on one of HKSTP’s most well-tested models, the accelerator connects the Park’s wide network of prestigious partners, industry leaders, advanced research institutions and successful enterprises to share their valuable industry insights and trends.

It further brings together the world’s best Fintech start-ups and technology ventures to create amazing business solutions that not only propel the industries and society to move forward but also enable Hong Kong to remain at the forefront of Fintech.”

With the BFSI Accelerator 2021, HKSTP offers Hong Kong’s largest innovation platform for a host of leading BFSI partners to co-create curve-jumping solutions with innovators in Hong Kong and around the world.

Fintech solutions in the fields of Blockchain, Artificial Intelligence and Robotics, Cybersecurity and IoT are among those being targeted in the programme to help the BFSI partners enhance four focus areas – operational efficiency, customer experience, wealth management, and regulation and compliance.

The BFSI Accelerator commenced on 25 January 2021 in three stages, to build a win-win for the industry partners and innovators and make a greater impact in business and society.

Stage 1: Global Recruitment of Solutions 

The accelerator will recruit innovative solutions from Hong Kong and overseas that match industry needs and operational requirements set forth by the BFSI partners.

Stage 2: Co-creation

The accelerator will connect the BFSI partners with a selection of potential solutions to evaluate for proof-of-concept (PoC) adoption.

Shortlisted start-ups and technology ventures will be guided by mentoring from the BFSI partners. According to circumstances, HKSTP will provide a secured environment to test and validate cutting-edge technologies into market-ready applications that address specific BFSI needs and create sustained value for the industries.

Stage 3: Demonstration Day

Success stories and insights into corporate innovation will be shared at the conclusion of the programme with a Demonstration Day, scheduled for September 2021.

Applications for the BFSI Accelerator 2021 are now open. The accelerator programme encourages innovative businesses and entrepreneurs in Hong Kong and overseas to sign up on or before 26 March 2021 via the website.

The BFSI Accelerator has gained the extensive support of high-profile BFSI institutions and enterprises, including Invest Hong Kong, The Hong Kong Association of Banks, The Hong Kong Institute of Bankers, and Insurance Authority, as well as Hong Kong Monetary Authority through the HKMA-HKSTP Fin+Tech Collaboration Platform.

Fintech is one of the key areas of strategic technology focus at HKSTP. The Corporation’s Fin+Tech ecosystem connects regulators, the banking, financial services and insurance industry, and the academia (Fin) with startups and Fintech innovators (Tech) in Hong Kong and around the world. Through the Fin+Tech ecosystem, HKSTP strives to build a solid foundation for a new era of financial services in Hong Kong, the Greater Bay Area and the globe.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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