The Digital Accelerator Programme will allow fintech startups to work with professional mentors from asset management firms to create viable solutions for industry challenges.
IMAS (the Investment Management Association of Singapore) has launched a fintech accelerator and mentorship programme, which will allow for faster commercialisation of digital solutions for the asset management industry.
According to a Straits Times report. the DAP (Digital Accelerator Programme) will allow fintech startups to work with professional mentors to create solutions to help asset managers reduce costs and improve returns.
“Given that the investment management industry is on the verge of digital disruption, we need to constantly innovate and reinvent ourselves in order to remain globally competitive,” said IMAS chief Carmen Wee. “We hope that the DAP will serve as a catalyst to speed up the adoption of new technology in investment management and ensure that fintech firms are embedded into the asset management ecosystem.”
Fintechs selected to take part in the DAP will work on creating viable digital solutions for key industry challenges identified by IMAS industry partners. These may include solutions to better predict, monitor and manage regulatory obligations, or to apply alternative data models and analytics to improve investment performance.
Up to 10 fintech firms will be shortlisted to present their solutions to a panel of judges at the IMAS Bloomberg Investment Conference 2019 on 9 May 2019. Three winners will be selected to participate on a four-week acceleration programme, which will include access to funding and professional mentors.
“Tapping into the fintech community will enable us to be more agile, accelerate our digital agendas and also deliver innovative investment offerings and experiences to our clients,” said Jessica Shearer, chairman of the IMAS Digital Innovation Working Group.
Applications are open here until 8 April.