Startup Spotlight — Eureka FinTech
Asia is home to many impactful startups. With our “Startup Spotlight”, we aim to spotlight some of these innovative startups that have the potential to make an impact. The interviews are brief and straight to the point, providing a snapshot of each startup’s offerings, market opportunity, and challenges.
The first startup in this series is Eureka FinTech. Also please let us know if you are interested in learning more about Eureka FinTech or you would like to contact the founder.
This article is also available on QIDS Venture Partners website and LinkedIn, and we invite you to share your thoughts by leaving a comment.
Can you briefly introduce your startup and the services you offer?
Hwa-Ping: Eureka FinTech aims to be a pioneer in providing innovative KYC (Know Your Customer) solutions including supply-chain information, Anti-Money Laundering (AML) to manufacturers and financial institutions across Asia via its comprehensive financial services platform and bespoke consulting services.
What is the core problem you’re addressing, especially concerning data accuracy and breaking through in regions like Hong Kong?
Hwa-Ping: The central issue we encounter is obtaining precise data from each region prior to deploying them in AI Graphic models. Additionally, we’re looking for effective strategies to establish a strong presence within financial institutions in regions such as Hong Kong.
What motivated the establishment of your startup?
Hwa-Ping: I have been the Greater China team head in the international bank. We encountered challenges related to data transparency and resource constraints. We spent too much time and effort for the AML/KYC processes.
In a concise sentence, what is your startup’s primary mission?
Hwa-Ping: Make the compliance risk tasks transparent and efficient to be managed.
With the numerous solutions in the FinTech sector, how does your product or service differentiate itself?
Hwa-Ping: We apply our unique AI Graphic technology to explore the public domain info and the database from data vendors. As we expand our data coverage to more countries, we can improve the transparency and efficiency and thereby help to better understand the related entities’ compliance risk.
What are the markets you are targeting?
Hwa-Ping: We are primarily targeting markets in Mainland China, Hong Kong, and Taiwan. To date, we already have successful use cases in each target market, and our clients have greatly benefited from our solutions.
What are the primary projects or initiatives that your team is currently focused on?
Hwa-Ping: Our main initiative centers on the use of AI for negative news monitoring and search. This approach has garnered significant interest from financial institutions due to its precision and data-driven insights.
As we move forward to the end of 2023, what do you perceive as the most significant trend or challenge in your sector?
Hwa-Ping: While AI presents a promising direction for our sector, its full acceptance by financial institutions remains a challenge that requires further validation.
Are there specific types of business entities or stakeholders you’re looking to collaborate with in the near future?
Hwa-Ping: Absolutely, we are seeking partnerships with VCs and individual investors keen on AI Graphic technology to bolster our growth and strategic direction. Additionally, collaborations with data vendors and system integrators are on our radar to enrich our dataset and expedite service delivery to our clients.
How do you believe partnerships or collaborations could enhance your startup’s journey and offerings?
Hwa-Ping: We believe that strategic partnerships can significantly propel our growth and enhance the value we deliver to our clients.
Can you share any goals or milestones you’re aiming for in the next year?
Hwa-Ping: Our aim is to significantly expand our reach in 2023 and 2024. We plan to apply our AI Graphic technology in the Greater China area this year and extend our services to Southeast Asia, Bangladesh, and Japan by 2024.
For our readers interested in knowing more or exploring partnerships, what’s the best way to reach out to you?
Hwa-Ping: We’re open to multiple communication channels, including email, Line, WhatsApp, WeChat, Facebook, and LinkedIn. Please feel free to initiate a direct call or schedule a face-to-face meeting for detailed discussions and demonstrations.
QIDS Venture Partners is dedicated to supporting and catalysing the developments in FinTech by sharing with our audience FinTech trends and interesting FinTech business ideas. You may forward this article to other investors who are interested in FinTech as well. If you need more information or would like to arrange a meeting with us, please feel free to contact our Managing Partner Edward Shen via LinkedIn or email.
