Wells Fargo Picks Two Singapore-Based Payments Startups for Accelerator Program

“Being selected for Wells Fargo’s Startup Accelerator bodes well for these companies, given the success of alumni like EyeVerify, whose eye vein biometrics mobile authentication platform has proven to be a big hit among the financial services and fintech communities.”

Wells Fargo has chosen two Singapore-based payments startups for the spring edition of its biannual Wells Fargo Startup Accelerator program.

Both of the early-stage companies offer solutions to businesses in financial services. Alpha Payments Cloud offers a platform called AlphaHub which is aimed at giving banks, merchants, and related companies access to any payment service through a series of APIs—a solution that could prove appealing to financial institutions struggling to adapt to disruptors offering digital payment services. Meanwhile, Jewel Paymentech offers predictive analytics tools to help banks identify fraud risks associated with merchants.

Being selected for Wells Fargo’s Startup Accelerator bodes well for these companies, given the success of alumni like EyeVerify, whose eye vein biometrics mobile authentication platform has proven to be a big hit among the financial services and fintech communities. Moreover, the new Startup Accelerator participants are eligible to receive up to $500,000 in investment in addition to the guidance and mentoring offered by Wells Fargo.

Wells Fargo is currently inviting applications for its autumn Startup Accelerator program.