HSBC Bank and T-Hub Select 5 Fintech Startups for ‘Accelerator 2030’ Program

T-Hub, a tech incubator, and HSBC, a banking and financial services organization, today announced the list of selected startups for their joint program “Accelerator 2030.” Launched in March 2018, Accelerator 2030 aims to partner with Fintech startups working on products and solutions for improved banking operations.  

A cohort of five selected startups will get access to training, mentorship, and workshops by senior HSBC leadership as part of the eight-week accelerator program. 

Speaking on the occasion, Jay Krishnan, CEO, T-Hub said, “With the incredible changes in the Fintech space powered by policies like Digital India from the top and innovations from the ground- up, startups with diverse technologies are the future of the banking industry. Banks like HSBC continue to push institutional barriers and stay ahead in the market. As an innovation partner, we are proud to have partnered with HSBC and scouted solutions from Fintech startups that would not only resolve challenges in the banking industry but also potentially create new business models, products, to radically transform the sector."

The Accelerator 2030 program will provide the startups an opportunity to collaborate with HSBC and secure opportunity to work with industry experts, receive support from mentors to refine their business strategy, and get access to T-Hub's network of mentors, industry experts, investors, service providers, and the ecosystem.

Tom Acton, Global Head of Strategy and Innovation, HSBC, said, “We are excited to move to the next stage of the Accelerator 2030 programme with the five selected startups. Their solutions are closely aligned to our vision of the future of banking operations, and our collaboration will help HSBC deliver better products and services to our customers and people.”

More than 95 startups responded to the call for action of the program, to help shape the future of banking operations. The startups specialize in areas such as regulatory and compliance operations, loan processing, credit cards, insurance, mortgage applications, operations logistics, operations infrastructure, corporate and consumer product fulfillment.

The jury comprising of subject matter experts from T-Hub, HSBC and external industry members shortlisted the startups on the basis of their technology, products and solutions, go-to market readiness, scalability, alignment to overall operations strategy, team composition, possible impact, etc.

The shortlisted startups are:

Abda Digital’s Hola Enterprise is a SaaS platform for creating interactive micro-ads. It provides an innovative way for user engagement and lead generation.

Tookitaki brings in a unique perspective: Introducing AI to the exceptions management space, thus improving operational efficiency and making the process actionable, auditable and scalable.

Capital Quant Solutions offers cognitive automation solutions to the financial services industry.

vPhrase's AI product Phrazor summarises data into bullet points highlighting the key insights required for decision-making.

Morph.ai is a chat-based marketing automation tool helping brands generate drive more sales by leveraging the chat ecosystem.

Earlier this month, T-Hub announced a list of 70 startups for its Lab32, a fresh cohort for a six-month programme. It is also inviting applications for the second edition of its India Market Access Bridge (IMAB) programme. The nine-month programme provides international start-ups business opportunities, market understanding and access to clients in India. Last month, T-Hub and Facebook announced the first batch of winning startups, selected for their joint program “India Innovation Hub.” 

Recently Alpha JWC Ventures announced its plans to invest up to $5M in 2018 participants of PayPal Incubator, a FinTech startup incubation program in Southeast Asia.