Amon Crypto Debit Card Startup Selected for Hungary’s MKB Bank Fintech Accelerator Program
MKB Bank, one of the largest financial institutions in Hungary completed its 3 months accelerator program for fintech companies. The annual competition allows the banks subsidiary, MKB Fintech lab to invest in and nature fintech startups to higher standards. The latest company to join the program is Amon cryptocurrency wallet firm.
Amon Tech is an intelligent crypto debit card connected to a Wallet which uses an AI system that helps users to spend virtual and traditional assets efficiently. Currently, the Amon Wallet supports BTC, ETH and AMN token. ERC-20 and more will be implemented with new releases.
We are excited to announce that Amon will be part of the MKB FintechLab Accelerator and Innovation Lab program in Budapest!! Head to our blog and read the full article
— AMON (@amonwallet) February 5, 2019
The MKB Fintech Lab Competition
The competition runs yearly for a period of 3 months after which the most promising fintech companies get a chance to join the accelerator program. The competition starts off with a number of interviews by the bank. The successful projects then competed in a 3-day program held in Budapest at the start of January 2019. The total teams that made it to this round were 18 for this year.
Amon success in this final round came after the team worked on an assignment to demonstrate the agility of connecting the community and users on the platform.
Benefits Of Joining The MKB Fintech Lab Accelerator
The major benefit Amon gets from MKB Fintech lab has to be the monetary injections to aid the development of the platform. The total amount to be splashed out is yet to be revealed by the Hungarian bank.
However big the amount, the help from the bank will not stop at monetary injections as the accelerator also plans on mentorship. Over 50+ mentors will be working with the Amon team to guide and support the team over the coming months. These mentors hail from a number of industries including law, compliance, technology, and marketing. This broadens the field of the Amoners.
Furthermore, the accelerator program will offer office space in Budapest, Hungary for the Amon team. This will help the team connect and interact with other companies and the alumni of the program. Space will open up avenues for the Amon team to create formidable partnerships in the region.
Finally, MKB Fintech lab, a subsidiary MKB Bank will offer protection against regulators as the bank has a strong partnership with the Hungarian National Bank. According to the Amon team news release, the bank will also help in getting licenses and documents for any new products and innovation they come up with.