EY named official services supplier to the 2019 Rugby World Cup in Japan

04 December 2018 Consultancy.asia

The Japanese arm of EY has been announced as the official professional services supplier for the 2019 Rugby World Cup to be held in Japan next year.

With the one-year countdown already underway until the 2019 Japan Rugby World Cup kicks off in September next year, the local branch of global Big Four firm Ernst & Young has been named as the event’s official professional services provider. Appointed by the sport’s governing body World Rugby, EY retains its role from the 2015 Rugby World Cup in England and the Women’s Rugby World Cup held in Ireland last year.

“EY is a global leader in the accountancy, tax and business advisory sectors, and their services will be critical to an event,” World Rugby Chairman Bill Beaumont said in expressing his delight in the continuing relationship. “We look forward to strengthening our collaboration in the spirit of unity, innovation and teamwork as we prepare to deliver what will be a very special, successful and ground-breaking Rugby World Cup.”EY selected as professional services provider for 2019 Japan Rugby World CupAccording to an economic impact study conducted by EY earlier this year, the 2019 Rugby World Cup (RWC) is predicted to provide a £1.5 billion added value boon to the local GDP across the six weeks of its twelve-city schedule, with 400,000 visitors expected to contribute over £700 million in direct expenditure. The projections follow the £1 billion boost to the UK economy forecast by the firm prior to the event in 2015.

Under the agreement, the Japanese arm of EY, which will be integrated with the firm’s Asia Pacific operations by the time of the first whistle, will provide a full range of professional services for the tournament including in the areas of tax advisory and accounting, with the firm stating that it aims to contribute to the success of the tournament by working together with players and event organisers as well as rugby fans.

“It is a great honour for EY Japan to be able to participate in RWC 2019 as an official professional services supplier,” said Country Managing Partner Koichi Tsuji. “For a tournament where the teams compete with a national pride, we are looking forward to supplying our expertise as professional business advisors… As a supporter, we will do our best to ensure that RWC 2019 is remembered as the most exciting and successful to date.”

According to reports, more than 4.5 million ticket applications have been made for the 48-match 2019 event since ballots opened at the beginning of this year, with 40 percent of the bids originating from outside of Japan. On the field, Australia will be seeking to avenge its loss to New Zealand in the final of the 2015 tournament and reaffirm its status as the most successful Rugby World Cup team over the past 30 years. 

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Accenture Fintech Innovation Lab applications open for Asia Pacific

08 April 2019 Consultancy.asia

With over half a billion dollars raised by its alumni to date, Accenture’s FinTech Innovation Lab is back for another round in the Asia-Pacific.

Applications have now opened for the Asia Pacific edition of Accenture’s FinTech Innovation Lab, a 12-week accelerator programme for promising fintech start-ups which has seen over $1.5 billion raised in venture financing globally for its graduating alumni to date – a third of that for just 41 participating companies in the Asia Pacific. Both early and growth-stage fintechs are eligible to apply, with submission closing in May.

Launched in New York in 2010 before spreading to London and Hong Kong, the FinTech Innovation Lab is described as a collaborative, non-sales environment which brings execs from leading financial institutions together with aspiring fintech start-ups for mentorship, guidance and advice – augmented by a series of workshops and panel discussions covering areas such as procurement, technology architecture, and industry trends.

This year’s principal participating financial institutions include BlackRock, Morgan Stanley, Standard Chartered, Goldman Sachs, J.P. Morgan and Credit Suisse among many more leading names from the banking and investment realm, while Elzio Barreto, Accenture’s Financial Services Media & Analyst Relations Lead for APAC will serve as a mentor alongside experts from Deutsch Bank, Stott Advisory and CBA International among others.Accenture Fintech Innovation Lab applications open for Asia Pacific

“There’s now widespread acceptance that the best way forward for banks and fintech startups is to collaborate where possible, creating big ecosystems that will help unlock huge value for all stakeholders, particularly consumers,” said Piyush Singh, Accenture Managing Director for Financial Services in the Asia Pacific and MENAT, with the firm noting a shift in focus between fintechs and traditional firms over the past 18 months, “from competition to collaboration.”

“We’ve already seen banks, insurers and wealth managers partner with fintechs here in Asia, but the outlook for further collaboration and the resulting value creation is what’s making investors more comfortable to spread their bets more widely,” Singh continues. “That’s a big focus for the Innovation Lab, instigating this sense of partnership between well-established financial firms looking for the next breakthrough technology and nimble startups eager to test their solutions and push them to market.”

With the APAC Innovation Lab now entering its sixth cycle, Accenture also notes the recent global surge in fintech investments, which doubled in 2018 to over $55 billion, led by a wave of funding to mainland China. “The Lab’s geographical proximity to the mainland makes it particularly suitable for Chinese start-ups, especially for those like ours looking to expand abroad,” said Li Hao, co-founder of Chinese unicorn Wecash – which was among the Lab’s first intake in 2014.

For the 2019 edition, senior business and operations executives from the Lab’s participating financial partners will select up to ten applicants to take part in the programme, with fintech entrepreneurs developing cutting-edge products, services and technologies invited to apply. Kicking off in August, the 12-week programme will culminate in an Investor Day where particpants can showcase their technology to finance executives, investors and the media.