Bangkok Bank launches 12-week intensive fintech accelerator program

Bangkok Bank Public Company Limited, is one of the largest commercial banks in Thailand, announced its international 12-week intensive fintech accelerator program that will take place in Bangkok.

Partnering with corporate innovation partner Nest, the ‘Bangkok Bank InnoHub’ program represents the bank’s drive to promote the change and solidifies its commitment to exploring and adopting innovative new technologies.

Bangkok Bank will provide local and international fintech startups with the opportunity to gain validation and scale over an accelerated period. The accelerator will have up to eight early stage companies that are looking to build and accelerate growth
with the support of a leading financial institution.

“Under the overall theme of Inspiring Change, we believe InnoHub will tie in well with the Thai government’s 4.0 policy to build a more innovative, value-added and service-orientated economy. For Bangkok Bank, there is the potential to adopt new technologies to further the development of innovative services and experiences for our customers, and in partnership with Nest we will source and select startups that have strong relevance to our business,” Panukorn Chantaraprapab, Executive of Business Investment Department of Bangkok Bank, said.

According to Bangkok Bank President Chartsiri Sophonpanich, the Bangkok Bank InnoHub program will give local startups an opportunity to expand regionally and internationally while offering global startups an opportunity to collaborate with Thai and ASEAN communities.

The selected fintech will gain strategic advice that will help prepare them for a potential pilot project or integration with the bank. Also, supplementary curricula delivered by Nest experts and dedicated mentors in the program will also help startups gain ground on their individual objectives.

The cohort will commence in June 2017 and take place at Bangkok Bank’s unique innovation facility and it is currently accepting applications. The accelerator program will particularly benefit early-stage startups developing technologies for payments, electronic Know Your Customer (eKYC), machine learning, blockchain technology and artificial intelligence (AI), among others.

“We are excited to partner with Bangkok Bank to build further momentum and deliver value for Thailand and the greater region. For the companies selected for this program, our aim is to not only give them access to opportunities domestically in Thailand but also to create a hub for early-stage companies looking to gain traction in other ASEAN markets, thereby positioning Thailand as a gateway into ASEAN,” Lawrence Morgan, CEO of Nest, said.

Fintech founders of all nationalities aged 18 and above can apply for the accelerator program and the applications run till 10 May 2017. The fintech accelerator will conclude with Demo Day in September 2017, during which the selected startups will demonstrate and showcase their business to Thailand and ASEAN’s investment community in a bid to secure funding and partnerships.