Standard Chartered Bank and Allianz Malaysia announced a shortlist of ten international and local start-ups.
The SuperCharger Fintech Accelerator programme kicked off its 12-week programme in Kuala Lumpur by introducing 10 international start-ups as the finalists for this platform. As well as the two financial heavyweights another strategic partner Malaysia Digital Economy Corporation (MDEC) is partnering the scheme.
Supercharger will help these businesses raise seed capital, potentially launch their product, and identify and close business deals for companies looking to sell or partner. There are also many potential collaboration opportunities between the start-ups and the institutional partners.
International Interest
More than 100 early-stage and late-stage scale-ups from 30 countries submitted applications for the programme. Their diverse businesses covered sub-sectors, such as Insurtech, Regtech, payments, wealth management, artificial intelligence (AI), and blockchain.
The 10 finalists selected for Supercharger Kuala Lumpur 2017 are:
Capnovum – RegTech
Chekk – KYC & Digital Identity
MyFinB – Cognitive Analytics
Neosurance – InsurTech
Neuroprofiler – RegTech & WealthTech
Pand.ai – Artificial Intelligence & Chatbots
Pulse iD – Big Data Analytics
Solus – Cybersecurity
Springday – InsurTech & SaaS
Tramonex – Payments
Malaysia benefits from a high smartphone penetration of almost 70 percent enabling financial service providers a powerful channel to provide access and increase usage to consumers. Malaysia's central bank has also ramping up its embrace of financial technology with new initiatives and regulatory support.
Bank Negara Malaysia (BNM) issued licences to four companies to operate within its «regulatory sandbox,» these include foreign as well as locally run businesses.
finews.asia reported earlier this year that the central bank had created a unit called the Financial Technology Enabler Group (FTEG) to oversee the entry of technological innovations into the country's financial services.
