Digital Digest: The Latest Tech News – Bank Of China (Hong Kong); Philippines

Editorial Staff

30 August 2022

Bank of China (Hong Kong)
[tag|Bank of China (Hong Kong)|]Bank of China (Hong Kong), a finance technology company in Southeast Asia, has launched an accelerator programme for startups in the Philippines. Kaya Founders, an early-stage investment firm, is also backing the launch.

The Open PHinance Challenge, which is running for eight weeks, is designed to open finance products for early-stage startups. Out of 30 teams and startups which applied for the Challenge, 11 were chosen, Brankas said in a statement late last week.

The startups are as follows:
AltSwitch, a blockchain-based company; Betterteem, a cloud-based HR integration app that uses AI technology; Cropital, an agriculture crowdfunding platform providing farmers access to scalable and sustainable financing; Datacultr a digital debt collections and risk management startup which digitalises collection processes, automates customer engagement, and provides lifecycle management, and Dyippay, a fintech serving the public utility vehicle sector. Other startups are KoleK, an enterprise software-as-a-service which orchestrates receivables processes for companies; Mochi, a business-to-business startup aiming to help micro, small and medium enterprises (MSME) merchants purchase supplies without worrying about cash on hand; Rambooor, a Web3 startup which aims to make decentralised finance (DeFi) accessible, safe, and profitable for ordinary users, Sonicboom Solutions, a payments business in Malaysia; Sonicboom Solutions, a Malaysian payment firm; Spiro Carbon Group, which works in the farms space, and Taikee, a personal finance platform.

During the eight-week programme, participant teams will go through sessions focused on product ideas, business development, user validation, regulatory compliance, pitching and fundraising.

Brankas and Kaya Founders will gather subject matter experts. Local partners will also assist in the programme, the statement added.