DBS ACCELERATOR DRIVING TOWARDS FINTECH FUTURE

Hong Kong, 22 June 2017 – With an evolving
FinTech landscape that is rapidly maturing into the mainstream, DBS Bank (Hong
Kong) and Nest, a global innovation platform supporting entrepreneurs, are
enabling startup success with a dynamic new “always-on” DBS Accelerator programme
format.

DBS Accelerator aims to better embed new FinTech
technologies in banks by creating opportunities for innovators from across Asia
and around the world to transform the digital agenda. Now in its third year,
the programme is a key go-to hub in Hong Kong for startups with the vision and
potential to shape the future of finance with innovative FinTech solutions.

Under the new “always-on” programme format, DBS
Accelerator will host startups year round to continuously help strengthen the
bank’s key transformational journey, which will be refreshed throughout the
year. Participating startups will have the chance to explore collaborative
opportunities with the bank. The first batch of startups will be focused on
impactful ways to enhance the customer’s digital journey, the bank’s risk
management, as well as cryptocurrency, blockchain and cybersecurity.

Applications from FinTech startups are now
welcome via www.dbs-accelerator.com, where more details of the
programme are available. Applications are accepted all year round, with the
first batch of applications closing for review on 31 July 2017.

DBS Bank (Hong Kong) CEO Sebastian Paredes,
said, “Dynamic new ways to enhance risk management, cybersecurity and the
digital customer journey, and opportunities to apply blockchain and cryptocurrency
technologies, are helping banks transform through FinTech innovation. With the
success of the DBS Accelerator programme, we are excited and committed to
driving progress towards a FinTech future.”

Nest CEO Lawrence Morgan said, “At Nest, we
believe that open innovation and collaboration will enable and empower FinTech
startups and corporates to not only address changing consumer needs but to do
so at a faster pace with more meaningful impact. We’re excited to pioneer this
new programme format with DBS to further this open innovation movement and
achieve positive business outcomes for both DBS and FinTech startups around the
world.”

DBS Accelerator is a collaborative initiative
between DBS Bank (Hong Kong) Limited and Nest, a global innovation platform
supporting entrepreneurs. The “always-on” accelerator programme is housed in “The
Vault”, a state-of-the-art 5,000-square foot workspace in the heart of Wan
Chai. Participating startups have access to vast resources and mentor support,
and are guided through their business growth and development.

DBS Accelerator is also supported by industry
leading partners, including Amazon Web Services, HKUST Business School, IBM,
InvestHK, and Thomson Reuters. Ovolo Hotels is the programme’s accommodation
partner.

DBS, which was named World’s Best Digital Bank
by Euromoney, has and continues to invest considerable resources to drive
innovation and digital banking, with many notable examples of first-in-market
and award-winning initiatives to effectively realise a seamless and joyful
customer experience. Among them is the DBS Omni Credit Card Companion Mobile
App, which features four major first-in-market innovations for a safe, secure
and joyful banking experience for DBS credit card customers.

In another groundbreaking industry
first, SMEs in Hong Kong can easily open business accounts with DBS without
ever having to set foot in the bank’s branches. The “Meet Online” Business
Account Opening Service marks an innovative, first-of-its-kind breakthrough
that transforms the traditional business account opening process for SMEs into
a seamless and engaging online experience that can be completed anytime and
anywhere. “Meet Online” eliminates the hassle of scheduling face-to-face
meetings at bank branches during office hours by enabling SME customers to meet
with the bank’s relationship manager and complete the due diligence process via video

conferencing.