Wednesday, July 24, 2024
ReportStanChart plans KL accelerator; eyes Islamic fintech start-ups

StanChart plans KL accelerator; eyes Islamic fintech start-ups

Standard Chartered Bank (StanChart) is keen to replicate the success of its SuperCharger Fintech Accelerator in Malaysia, and this time, with a keen focus on courting fintech with solutions for Islamic finance, IFN Fintech has learned.

Still in the early stages of discussions, the bank will be collaborating with at least one government agency and one institution from the private sector to launch the accelerator program which will be based in Kuala Lumpur. “We are hoping to get it up and running this year,” an inside source revealed, adding: “We really want to include at least one Islamic fintech start-up in this program and Malaysia is the right place to start considering the maturity and sophistication of its Islamic finance market.”
The bank has shortlisted eight fintech companies (from SuperCharger Fintech Accelerator 2.0 in Hong Kong) for potential collaboration, and has initiated proof of concept projects with three companies including Bambu, a B2B robo-advisory company and KYC Chain to develop regtech utilizing distributed ledger technology.

IFN Fintech also understands that the bank is working closely with government agency Malaysia Digital Economy Corporation to develop much-needed fintech talent through a graduate academy to nurture thought leadership among students.


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