The recently announced Supercharger fintech accelerator programme has now started its 12-week programme in Malaysia by unveiling 10 international and local startups as the finalists for this platform.
The Supercharger programme is the result of a partnership between Standard Chartered Bank, Allianz Malaysia, and national ICT agency Malaysia Digital Economy Corporation (MDEC). During the initial launch in August 2017, MDEC chief operating officer Dato' Ng Wan Peng said that SuperCharger's expansion into Malaysia "comes at a time when the country is experiencing a surge of activity in fintech."
More than 100 early-stage and late-stage scale-ups from 30 countries vied for the accelerator. These came from sectors, which included insurance technology (InsurTech), regulatory technology (RegTech), payments, wealth management, artificial intelligence (AI), and blockchain. (See the appendix below for more information about the 10 finalists.)
Supercharger founding partner Standard Chartered's global head, Global Business Services, Matthew Norris, said, "This comes at a time when the financial services industry is experiencing its biggest ever transformation."
"Advances in computing power, ubiquitous mobility and the explosion of data have accelerated the digital transformation of banking on an unprecedented scale," said Norris.
SuperCharger's founder, Janos Barberis, said, "From a strategic level, coming to Malaysia complements the network and achievements that we've built with Standard Chartered and other partners in Hong Kong over the past two years. We're excited to have Allianz Malaysia and MDEC join Standard Chartered as main partners here as we get ready for a great Malaysia programme. From our perspective, Malaysia is a country filled will potential in this area and is developing a lot of great local talent. To be in the position to help attract international innovation and startups to the market and combine that with all of the fintech activities here offers us a very special opportunity to support the ecosystem."
The accelerator programme is another step in supporting innovation in the country by major organisations. For example, Standard Chartered opened its global intelligence and command centre in Malaysia (October 2015) while Allianz has been pushing through with its partnership programme, which includes its recent usage-bases insurance adoption drive.
Significant fintech potential also rests in Malaysia's high smartphone penetration of almost 70 percent (GSMA 2017).
With MDEC's support, the programme will take place at Komune co-working space, UOA Corporate Tower, The Vertical in Bangsar South and will run until December 15 2017.
To see some other recent fintech news in Malaysia, visit:
MDEC, Standard Chartered and Allianz bring SuperCharger's fintech accelerator to Malaysia
Standard Chartered's new Malaysian command centre to provide more secure global banking services
Malaysia's National Bank gives 'e-money' nod to IT firm
Deep dive: Why Malaysia's global tech enabler is focusing on fintech and IoT startups
A new 'starter kit' offers pipeline to Malaysia's movers and shakers
The latest edition of this article lives at Computerworld Malaysia.
Appendix: SuperCharger Kuala Lumpur 2017 - 10 Finalists
1. Capnovum - RegTech
Capnovum is a cognitive compliance management platform that provides an up-to-date repository of regulations, obligations and regulatory news that lets financial institutions manage compliance across jurisdictions.
2. Chekk - KYC & Digital Identity
Chekk.me is a Digital Identity ecosystem where individuals are empowered to own and reuse their personal data, and businesses get a secure channel for customer interactions and data requests (e.g. KYC).
3. MyFinB - Big Data Analytics
MyFinB helps FIs attain higher trust and better customer engagement beyond financing for enterprises. Using A.I., SMEs are guided on balance sheet management and Financiers can generate new business leads and analyse the financials quickly.
4. Neosurance - InsurTech
The first AI agent to offer instant contextual insurance protection and assistance through push notifications directly on your smartphone, when and where it matters most.
5. Neuroprofiler - RegTech & WealthTech
Client suitability assessment is often processed today through paper questionnaires. They are boring, poorly compliant and not scientific. Neuroprofiler is a behavioural finance game to help financial advisors assess the investor profile of their clients in line with last financial regulations.
6. Pand.ai - Artificial Intelligence & Chatbots
Pand.ai builds advanced AI chatbots that understands standard and non-standard English/Bahasa/Chinese, remembers what users said, and learns continuously. In other words, it makes chatbots "pandai" (clever).
7. Pulse iD - Big Data Analytics
Pulse iD is an identity platform that uses geolocation data to unlock security, loyalty & identity services to banks, telcos & media clients. Headquartered in Hong Kong, our technology is on millions of smartphones. Underpinned by proprietary & highly disruptive technology, Pulse iD is backed by experienced investors and is navigating an industry segment that is experiencing exponential growth.
8. Solus - Cybersecurity
Solus is a provider of next generation, multi-factor authentication software that seamlessly integrates biometric security solutions across multiple platforms. Solus is also developing adaptive machine-learning behavioural tools that will utilise user's device behaviour to detect and predict fraudulent behaviour beyond the core biometric authentication product.
9. Springday - InsurTech & SaaS
Springday powers health & wellbeing to make healthier, happier people. We use technology to create an ecosystem of health and wellbeing resources, challenges, wearable technology, face-to-face services and benefits. We bring these elements together in a gamified and engaging way in the form of an online platform with mobile app, easy to use and available anywhere and anytime.
10. Tramonex - Payments
Tramonex offers a single centralised payment hub can reduce the cost of your banking infrastructure and increase efficiencies. We offer more than 130 currencies and deliver our international payment services through an online platform, our easy to use API or a turnkey white-label solution.
Sign up for Computerworld eNewsletters.