DBS Accelerator will now drive cryptocurrency, blockchain growth

DBS will host startups year round to continuously help strengthen the bank’s key transformational journey, which will be refreshed throughout the year

DBS Bank

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With an evolving fintech landscape that is rapidly maturing into the mainstream, DBS Bank (Hong Kong) and Nest, a global innovation platform supporting entrepreneurs, are enabling startup success with a dynamic new “always-on” DBS Accelerator programme format.

DBS Accelerator aims to better embed new fintech technologies in banks by creating opportunities for innovators from across Asia and around the world to transform the digital agenda. Under the new “always-on” programme format, it will host startups year round to continuously help strengthen the bank’s key transformational journey, which will be refreshed throughout the year.

“Dynamic new ways to enhance risk management, cybersecurity and the digital customer journey, and opportunities to apply blockchain and cryptocurrency technologies, are helping banks transform through FinTech innovation. With the success of the DBS Accelerator programme, we are excited and committed to driving progress towards a FinTech future,” said Sebastian Paredes, CEO, DBS Bank (Hong Kong).

Participating startups will have the chance to explore collaborative opportunities with the bank. The first batch of startups will be focused on impactful ways to enhance the customer’s digital journey, the bank’s risk management, as well as cryptocurrency, blockchain and cybersecurity. Applications will be accepted all year round, with the first batch of applications closing for review on 31 July 2017.

“At Nest, we believe that open innovation and collaboration will enable and empower FinTech startups and corporates to not only address changing consumer needs but to do so at a faster pace with more meaningful impact. We’re excited to pioneer this new programme format with DBS to further this open innovation movement and achieve positive business outcomes for both DBS and FinTech startups around the world,” said Lawrence Morgan, CEO, Nest.

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