DBS Hong Kong Launches Startup Xchange To Partner Startups For Fintech Future

Hubbis HK

1 Nov 2018

With the pioneering success of DBS Accelerator and an increasingly dynamic FinTech landscape, DBS Bank (Hong Kong) is enhancing efforts to enable and support startup success with the launch of a new Startup Xchange programme designed to exclusively match the bank’s problem statements to FinTech startups.

Rolled out in both Hong Kong and Singapore, Startup Xchange will source the world's best and most suitable startups to co-create solutions with the bank on a continuous basis to address business problem statements in real time. This model allows startups to tap into the bank's networks to build a sustainable business for themselves over time. The startups will also be able to showcase their solutions developed for DBS and also name DBS as their anchor client while raising funds.

Brit Blakeney, Innovation and Ecosystem Head at DBS Bank (Hong Kong), said, "Fostering a dynamic global ecosystem of collaborative FinTech startups based on targeted business problem statements, as well as opportunities, is key to helping us reimagine and shape the future of banking. Startup Xchange is a natural extension and evolution of DBS Accelerator, and is a win-win for both the startups and DBS Hong Kong, as we are able to explore and solve business ideas together in real time."

Since the successful launch of DBS Accelerator in 2015, over USD16 million in funding has been raised, with all of the programme's startup alumni successfully securing funding support or expanding their business in Hong Kong as a result of their participation. DBS Bank (Hong Kong) has successfully completed proofs of concept with many startup alumni, including FinChat, Perx Technologies, HyperAnna and Squirro.