Applicants must have a working beta version of their technology. The Lab, which begins in August 2016, will partner the chosen fintech entrepreneurs with senior-level bank and insurance company executives and leading technology entrepreneurs, to help them fine-tune and develop their technologies and business strategies through a series of workshops, panel discussions, user-group sessions, networking opportunities, one-on-one meetings and presentations. Cyberport will provide work space to participating entrepreneurs, and J Plus Hotel by YOO will assist with accommodations. The Lab culminates in November 2016 with a Demo Day presentation by selected participants in front of an audience of venture capitalists and financial industry executives.
“As part of the new financial services ecosystem, HSBC is pleased to deepen its collaboration with the fintech community, which will help us to improve customer experience,” said Raymond Cheng, HSBC’s chief operating officer for Asia-Pacific. “Fintech start-ups bring creativity, agility and new technology, which we can mentor, test, refine and apply at scale. For example, last year, we adopted the FinSuite automated financial spreading product across 27 countries, which sped up the approval of loans for our commercial banking clients.”