The Investment Management Association of Singapore (IMAS) is calling for corporates from across the asset management industry to join its third Digital Accelerator Programme, which enables them to work with best-in-class fintechs to develop solutions that can be rapidly commercialized.
The partners will work with fintechs to create a proof-of-concept/prototype that is customized to the firm’s business needs. If the POC or prototype is beneficial to the industry, IMAS will work with the acceleration partners to secure relevant grants to fund the particular project, IMAS said in a call for applications on Friday.
Acceleration partners can expect support in the form of design thinking workshops and video recordings, as well as multiple interactive sessions with fintechs as part of the outreach program, IMAS said. Potential partners can apply to DAP 2021 with a problem statement outlining a business challenge that could be solved with a viable fintech solution. The program will then pair the acceleration partners with a shortlisted fintech with the most appropriate solution to their problem statement.
Applications are currently ongoing, and no closing date has been specified.
Strengthening Innovation
Many prototypes have emerged from the first two DAPs, which can benefit the entire asset management industry, IMAS chief executive Carmen Wee noted. These have «helped the industry to harness the momentum of digital disruption to innovate and create future-proof solutions that enable them to stay competitive,» she said.
IMAS highlighted Nikko AM, which was an acceleration partner in both 2019/2020 DAPs. Through the DAP, the firm developed prototype solutions that strive to achieve better automation in data aggregation and selection to enable its portfolio managers and analysts to swiftly access and retrieve relevant key information and better leverage data.
Formed in 1997, IMAS represents over 100 investment managers with assets under management in Singapore of about S$1.3 trillion ($960 billion).
