The Asia-Pacific FinTech Innovation Lab is grabbing a global slate of startups for its upcoming accelerator program beginning next month. Based in Hong Kong, seven startups were chosen to participate in the program, with firms hailing from Australia, Israel, India, Hong Kong and London. The firms include Bitspark, BondIT, Ironfly Technologies, Moroku, Sparro, Sybenetix and Uniken.
As part of the program, the seven startups will be receiving assistance in developing their technology as well as mentorship in marketing to the Asian market. Launched by Accenture in 2014, the FinTech Innovation Lab of Hong Kong is the second class of the program. Expected to participate and provide guidance are Bank of America Merrill Lynch, China Construction Bank (Asia), China Citic Bank International, Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Maybank, Morgan Stanley, Standard Chartered and UBS.
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Among the firms, Bitspark and Sparro are creating payment networks using virtual currency technology. BondIT, Ironfly Technologies and Sybenetix are creating optimization products for the capital markets using big data and machine learning algorithms. Arriving from India, Uniken is involved with created digital security services. Of the firms, Moroku, is the sole fintech startup creating products aimed at end-user consumers.