The Investment Management Association of Singapore (IMAS) announced ten shortlisted fintechs for its Digital Accelerator Programme (DAP), its accelerator and mentorship programme that will deliver solutions to a variety of challenges being faced by the asset management industry.

These fintechs have been selected because of their innovative approach to solving these challenges, or their potential wider application to the asset management industry.

The finalists represent an international mix of fintech companies from six different countries:

•             Blue Fire AI (Singapore)

•             CapitalPreferences (New Zealand)

•             Cardabel (France)

•             ClauseMatch (United Kingdom)

•             Compliy (Vietnam)         

•             DiligenceVault (United States)

•             Know Your Customer (Singapore)

•             Sherpa Funds Technology (Singapore)

•             Value3 Advisory (Singapore)

•             Solidatus (Singapore)

The shortlisted finalists will now ready their solutions for showcasing and final judging at the IMAS-Bloomberg Investment Conference on May 9, one of the largest buyside gatherings in APAC with over 300 attendees from leading asset managers, institutional investors, family offices, VC firms and hedge funds. To help the finalists prepare, IMAS has put together an exciting 3-day mentorship programme to help the fintechs prepare for the competition at the IMAS-Bloomberg Investment Conference.

The finalists’ solutions look promising in helping to address the gap for much-needed innovation that the asset management industry can use to solve real, everyday problems it faces. As part of the selection process, firms had to show how they were aligned with or could be adapted to solve various problem statements developed by IMAS and other partners taking part in the DAP.  

The problem statements set by the DAP span seven key areas: Regulatory, Cybersecurity, Customer, Cost & Efficiency, Risk & Performance, Investment/Data and Education & Learning. All of the problem statements can be viewed here. Capabilities of the shortlisted fintech finalists range from risk profiling, data analytics, digital due diligence and integrated workflow systems.

At the IMAS-Bloomberg Investment Conference, up to three eventual winners will be selected, while all finalists will then take part in a 4-week acceleration programme to help them rapidly commercialize their proposed solutions. The winning firms will also have access to attractive funding and additional professional mentorship to further help rapidly accelerate their ideas.

Carmen Wee, Chief Executive Officer, IMAS, comments, “We are delighted with the success and momentum of the inaugural IMAS DAP, which has attracted high-quality applications from fintechs from all around the world. This would not have been possible without the hard work of our Digital Working Group, and the support of our sponsors and acceleration partners, which have put aside so much of their time and resources to make this programme a success. The fintech solutions developed with the DAP will drive much needed transformative change within the asset management industry, and IMAS is thrilled to sit at the center of this.”

Jessica Shearer, head of digital strategy & propositions APAC, Schroders, and Chairperson, IMAS Digital Innovation Working Group, adds, “The DAP is an ideal platform for fintechs to rapidly build networks and develop their solutions together with our leading corporate partners of the programme. The confluence of ideas from asset managers, fintechs and other supporting institutions will be key in helping contextualize the proposed solutions for the industry all whilst developing relationships across the ecosystem.”

Launched in February 2019, the DAP is an accelerator and mentorship programme aimed at fintechs to help deliver workable solutions for the industry. The programme will give fintech firms a unique opportunity to work with professional mentors and develop solutions that can be rapidly commercialized.