Hong Leong Bank Berhad (‘HLB’ or ‘the Bank’) has selected five promising start-ups for the inaugural HLB LaunchPad mentorship programme, specifically focusing on three areas: Simplifying Banking Today, Digitising Customer Journeys & Experience; and Re-Imagining Banking For Tomorrow.
HLB saw an overwhelming number of applications for the program, which underwent a comprehensive selection process, and narrowing down to 18 finalists who were invited to present at the HLB LaunchPad Pitch Day on 28th July 2017. The one-day event was indeed an inspiring platform where digital entrepreneurs competed with each other in impressing a panel of judges representing Hong Leong Bank Berhad, Hong Leong Islamic Bank Berhad, Cradle Fund Sdn Bhd, and the Malaysian Business Angel Network (‘MBAN’).
“We are truly excited at the prospect of working with start-ups. Indeed, financial services trends support the notion that working with start-ups is the way forward. Partnerships such as this offer various opportunities. It elevates the brand, helps reduce cost, and drives differentiated offerings. These in turn aid customer retention and uncover exciting prospects for new revenue streams,” said Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB.
Through the 3-month mentorship programme, the five successful start-ups will be mentored by the Bank’s Senior Management. They would obtain first-hand exposure to the knowledge, experience, and expertise of key people driving product, business, and infrastructure development, as well as cutting-edge technologies, within HLB. They would also receive training by design thinking experts and have the opportunity to validate their products in the market. Additionally, an allowance of up to RM25,000 per start-up would be available for them to further enhance their product or service offerings.
The programme will conclude with a Demo Day in early-December, where one of the five start-ups may be considered for an equity investment of up to RM 1 million by Cradle Fund Sdn Bhd.
The five selected start-ups are:
1. Blinkware Technology: A revolutionary pioneer in motion and gesture platforms with key strengths in media, education, data analytics, and medical technology.
2. CapitalBay: A multi-bank supply chain finance platform that helps corporations optimise working capital and provide businesses with real-time technology to collaborate with a wider network of financial institutions to access financing opportunities.
3. Kakitangan.com: A HR platform for SMEs to increase employee satisfaction and productivity through its SaaS HR System capable of conducting online payroll and mobile expense claims, among other functions.
4. Propsocial: A community-based social property website in Malaysia that gives consumers real insights and unbiased user reviews.
5. Sales Candy International: An action-based CRM which automatically updates lead status with the actions taken by the salespeople. It is also capable of instantly routing leads from lead ads and web forms directly to the sales team’s mobile phones for them to follow up on.
HLB LaunchPad is the product of Malaysia’s first public-private partnership between Hong Leong Bank, Cradle and MBAN, Malaysia’s official trade association and governing body for angel investors and clubs. The programme aims to reach out to start-ups and the entrepreneurial community to nurture new ideas and talent that would reinvent the way we bank tomorrow.