Local fintech start-up bags innovative idea award

An app developed by a local fintech start-up was named most innovative business idea at the India-Asean Youth Awards held in Delhi last night.

The DC Frontiers Handshakes app uses artificial intelligence to trawl through publicly available information to map out relationships and events between companies and people. It covers Singapore, Hong Kong and Malaysia, with plans to expand to China this year.

DC Frontiers, which is partly owned by Singapore Press Holdings (SPH), was founded in 2011 by former Singapore Exchange regulators Charles Poon and Daryl Neo.

"Handshakes exists to help our customers do business safely. Even though much of our work is unseen by the public, it is profoundly felt," said Mr Neo, DC Frontiers' chief executive. "We are extremely grateful to the Indian government for recognising Handshakes as the most innovative business idea in Asean."

DC Frontiers received a $2 million cash injection from SPH in 2015 in return for a 20 per cent stake.

Last night's awards were held alongside the India-Asean Commemorative Summit.

BIG IMPACT

Handshakes exists to help our customers do business safely. Even though much of our work is unseen by the public, it is profoundly felt.

MR DARYL NEO, one of DC Frontiers' founders.

A version of this article appeared in the print edition of The Straits Times on January 24, 2018, with the headline 'Local fintech start-up bags innovative idea award'. Print Edition | Subscribe