The 14 Australian fintech startups chosen for KPMG’s new accelerator program

The 14 Australian fintech startups chosen for KPMG’s new accelerator program

KPMG Australia today launched mLabs, an accelerator to connect credit unions and mutual banks with some of Australia’s most promising fintech startups.

The program follows the successful Energise accelerator run for the energy and natural resources sector last year.

The program will initially be used by seven Australian mutual banks and credit unions: Beyond Bank, CUA, Greater Bank, Heritage, IMB Bank, Police Bank and Teachers Mutual Bank.

The KPMG Mutuals Review 2015 found that mutuals are well placed to implement new technologies and ideas and to collaborate with fintech startups.

“KPMG mLabs is designed to catalyse this process,” says James Mabbott, head of KPMG innovate.

“It will be a platform for collaboration and a safe space for experimentation — and help bring some exciting new services to life for mutual banks and credit unions and their customers.”

The fintechs and mutuals will follow a 12-week program with access to expertise from KPMG mentors and industry advisors including Leona Murphy, previously head of strategy for IAG, and Andrew Davis, formerly global fintech lead for HSBC.

These are the first 14 Australian fintech startups in the program:

1. Avoka — Accelerates digital customer acquisition and increases business agility for financial services, government, education, and other industries.

2. Brighte -– The easiest way to pay “no interest ever” for home energy and improvements.

3. Chekk -– A digital identity start-up enabling consumers to own, manage and share their personal data with other individuals and businesses, supporting improved customer experience and interactions for businesses to request access to up-to-date customer information.

4. Cloudcase -– Omni-Product loan origination software enabling financial institutions to on-board customers and originate any financial product.

5. DSYNC -– integration platform that joins fragmented systems together. The platform enables companies to integrate both cloud and on premise applications with an advanced data transformation and mapping engine.

6. Easyshare -– A secure, online platform designed to simplify the payment of shared house, residential and commercial rent, bills and expenses.

7. Edstart — Provides a simple, low-cost financing solution, leveraging the latest technology to deliver a service to customers which is both easier to use and lower cost than traditional finance providers.

8. Fitchain — a fitness-based rewards program leveraging wearables and blockchain technology to improve engagement between both employees and customers.

9. Flamingo -– A customer experience personalisation platform that provides businesses with a retention, acquisition, co-creation and analytics capability.

10. Moneycatcha -– A loan origination solution that is built on the Blockchain, delivering significant competitive advantage through improvements to speed, efficiency and security.

11. Moroku -– Moroku creates engaging mobile experiences by gamifying consumer interactions in banking and payments with the Moroku Game System.

12. Pocketbook -– a free budget planner that makes managing personal finance ridiculously simple.

13. Simple KYC -– Hassle free, business process management solution for both large and small entities that greatly reduces the man hours involved in onboarding new customers.

14. Spriggy -– Helps parents teach kids about money. Using prepaid cards and a purpose-built mobile app, young people learn vital earning, saving and spending skills with real world practice under the safe supervision of their family.

Source: The 14 Australian fintech startups chosen for KPMG’s new accelerator program | Business Insider