The Tokyo Metropolitan Government (TMG) formulated the “Global Financial City: Tokyo” Vision with the aim of making Tokyo an unrivalled global financial centre by promoting the nurturing of the fintech industry.
As part of this initiative, they have announced the launch of the Tokyo Metropolitan Accelerator Program “FinTech Program: Asia meets Tokyo” for fintech start-ups in Asia.
As a result of these efforts, they received applications from 52 companies from 9 different countries and regions in Asia at the end of last year. From these, 8 fintech start-ups have been selected to participate in the programme, in which they will pitch their business plans, receive mentoring, and take part in other business matching activities.
The 8 start-ups are:
AIDA Technologies (Singapore) – Digital solutions for insurance operations that utilise artificial intelligence and machine learning, which contributes to improving the profitability of insurance companies by detecting fraudulent claims and overclaims in health insurance and automating underwriting and agency management.
AIZEN Asia Pacific (Singapore) – A new credit scoring system through a multi-dimensional AI model that utilises alternative data such as purchase data, which contributes to the diversification of financing methods and improvement of credit risk.
Allinfra Ventures Limited (Hong Kong) – Helps to mitigate the risks associated with green investment, using a blockchain-based environmental platform to improve financial positions and ESG scores.
CoverGo (Hong Kong) – Services that realise fast development of new functions and workflow reforms for the digitisation of all insurance business including contract management, billing, and new product sales, using a highly flexible insurance platform equipped with more than 500 APIs.
IBSFINtech India Pvt Ltd. (India) – Comprehensive risk management solutions to effectively manage information on FX, finance, and trade finance, and enhance the global operations of group companies.
Intensel (Hong Kong) – Cloud-based SaaS solutions that can analyse climate risks related to client companies’ assets using dynamic climate models, satellite data, and high-accuracy financial models.
Nextbillion.ai (Singapore) – Inexpensive, highly flexible custom map solutions utilising company data that can be used for transportation, logistics, smart city-related business, etc.
Tookitaki (Singapore) – AML analysis solutions via a unique machine learning model that automatically selects risk indicators from ever-changing customer behaviour and detects suspicious transactions without using personal information or setting specific thresholds.