KPMG is arranging the 2017 CRO Round table event for the Risk Management Association (RMA) Australia members with the theme “Generation Next”. To add to the day’s stimulating presentations and discussions, KPMG would like to find 3 of the world’s best Fintech solutions, worthy to showcase to this distinguished audience.

Fintech companies will have the opportunity to pitch their solution to the top Chief Risk Officers from Australian Banks and during the extended, interactive lunch, they will have the opportunity to discuss their solution in detail with interested CROs. Each winner will receive a contribution of USD 1500 towards their travel expenses.

All showcase entries received by 6 August 2017 will be validated by Matchi analysts and the winners will be selected by a panel of CROs from various Australian Banks and KPMG based on the following criteria:

• Solution Applicability in the category
• Alignment with Australian Regulatory Requirements (relevance in the Australian market)
• Solution Impact (based on Track record of implementations in other banks and success achieved)
• Innovativeness of solution

Sample business concerns which solution may seek to target could include: Horizon Scanning, Compliance Automated Testing or E2E Regulatory Automated Ecosystem

Sample business concerns which solution may seek to target could include: IFRS 9 / Current Expected Credit Loss (CECL) standard, Stress Testing Reports (CCAR/ DFAST), Liquidity reporting or Risk Data Aggregation (BCBS 239)

Sample business concerns which solution may seek to target could include: AML and account opening, Know Your Customer (KYC), Common Reporting Standards (CRS) or Customer service advantage

Solutions could address conduct risk to prevent unethical behaviour from an organisation`s management and employees particularly in the areas of product development, inappropriate incentives, product mis-selling and culture assessment

In collaboration with Matchi and KPMG, ATB Financial is looking to reimagine customer onboarding and management and is challenging the Fintech community to compete for an opportunity for a POC project.

Selected fintech solution providers will have the opportunity to present to ATB Executives and at least 2 solutions which will be shortlisted for an opportunity to prove the value and impact of their solution through a PoC project.

All entries will be validated by Matchi and KPMG analysts. An ATB Scoring Panel will evaluate each solution based on:

The extent to which the solution:

• Addresses the challenge problem / opportunity
• Enables transformation in the business relating to interaction with customers

Technical Aspects:

• Scalability – ability to handle transaction and user volume
• Expandability - ability to be deployed in another customer segment and/or business area
• Configurability – ability to be easily updated with changes in regulation or business requirements without complex re-development

Furthermore:

• Strengthens ATB brand and creates sizzle with customers
• Extent to which the solution is transformative - The extent to which the solution enables transformation in the business and/or how ATB interacts with its customers.

Please ensure your challenge entry covers each of the above as this will determine the selection of finalists to present to ATB Executives and of course final selection of PoC winners. Your challenge entry will be reviewed with your Matchi solution description throughout the evaluation and judging process.

Please note: 1 Solution Description on Matchi = 1 Entry Only

You can only enter a solution description on Matchi into ONE category. Should your solution cover more than one category, please select the most appropriate category and refer to the other relevant categories in your Challenge entry.

ATB is looking for an innovative solution that delivers a seamless KYC process across channels and devices:

• The solution should transform the customer experience by reimagining the capture of client data and profile creation while being smart, simple and helpful.
• The solution should ensure adherence to KYC rules across channels and products when onboarding new customers.
• The solution should be easy to reconfigure in response to regulatory changes and / or changes to business requirements.
• Ideally the solution will be applicable to both retail and small & medium sized business banking clients.

ATB is looking for a solution that helps automate and optimize onboarding and fulfilment processes:

• The solution should automate the collection of relevant data as needed for product fulfilment and automate the internal sharing of existing client data across ATB teams (e.g. credit application)
• The solution will be applied to small & medium sized business banking clients and where possible, retail clients

ATB is looking for a solution to more efficiently manage the interaction and flow of information within its ecosystem of service providers:

• In particular, the solution should address the movement of documents between parties in real estate/mortgage transactions (i.e. realtors, solicitors,appraisers, financial institutions).
• Solution should be extendable to other classes of service providers such as credit card and item processing etc.

ATB is looking for a solution that leverages advanced and emerging technologies to support identity management for the future: :

• Specifically, leading edge solutions that will become commercialized over the next 3 – 5 years
• The solution may include technologies like blockchain, advanced biometrics, wearables, internet of things and beyond.

Leading global financial services provider is seeking solutions to provide an integrated platform to provide seamless interaction with independent financial advisors across multiple product offerings. The company is running a Matchi Market Scan to source and PoC implementable fintech solutions aligned to five themes.

The Market Scan will launch on Wednesday 24 October 2016 and close for entries on 7 November 2016 at 23:59 SAT (South African Time). The challenge is free to enter and is open to all firms around the world who have developed and built solutions that align to any of the categories.

All entries received by the cut-off date of 7 November 2016 will be validated by Matchi analysts and then individually scored by a panel from the company and Matchi on the following criteria: Potential Business Impact (revenue, cost or efficiency), Ease of Implementation, Novelty and Solution Fitment. Shortlisted firms will each be invited to give a 20-minute presentation to the final judging panel

IFAs require more coordination (one point of contact) and ease of use (straight-through-processing on a platform) but they do not want to lose access to the company`s product and capability specialists across the company.

Should not be just a `platform`/ administrative service but rather provide seamless / integrated engagement with the company`s specialist capabilities.

The solution should:

• Create a key differentiator in the form of our ability to offer a seamless, integrated platform with access to both our local and international product sets
• Aggregate different product areas into a single technological solution
• Provide a view of all our products, services and fees in ONE PLACE
• Corporate level
• Adviser level (FSP)
• End client level
• Integrate into the IFAs existing CRM systems
• Offer a proposal tool

A key pressure for many IFAs is the administrative burden that comes with consolidating reports from the various suppliers and platforms for their clients.

The solution should:

• Create the ability for the IFA to consolidate reporting, enable performance reporting and streamline back office functions
• Generate reporting and aggregation of client information to enable a ‘look through’ to the end client (from the company, and not the IFA’s, point of view)

Providing compliance and administrative solutions for IFAs would resolve a big pain point for them and immediately increase business for the company.

The solution should:

• Improve practice management pertaining to the Financial Services regulatory authority licencing services, risk management services and training on compliance related issues
• Assist with records of advice i.e. compliance related to applicable financial advisor regulations
• Provide compliance monitoring reports

IFAs are having to KYC and on-board the same client multiple times with each business unit, and the IFA itself is having to be KYC’ed and on-boarded multiple times each time a new relationship begins with a business unit

The solution should:

• Reduce the duplication and inefficiencies in terms of on-boarding and user experience
• Create the ability for IFAs to perform KYC and on-board end clients once across the company
• Create the ability for the company to seamlessly KYC and on-board the IFA client rather than doing this multiple times with each business unit
• Provide storage of end client documents / KYC documents
• Provide online KYC awareness training

The company is already a trusted brand in the IFA market. We offer deep specialisation, not just superficial knowledge.

The challenge is to identify capabilities that can be provided that is over and above this to maximise our partnership with IFAs and deliver the best value to them

The solution could be :

• Any adviser specific tools and solutions to assist in investment advice, including the use of model portfolios

One of the leading Indian Financial Institutions, Mahindra Finance, is looking to evaluate innovative fintech solutions for its SME financing business through an innovation challenge. Fintech firms may respond to the challenge with an implementable solution aligned to any of the 3 SME-focused categories explained in the subsequent links to the challenge. The aim of the challenge for Mahindra Finance is to assess the solutions and execute proof of concept with the promising ones.

Since 2011, Mahindra Finance is providing customized lending solutions to MSME's through its Business Enterprise and Retail Enterprise verticals. The product portfolio for Business Enterprise comprises of Working Capital Loans, Bill Discounting, Pre-shipment Finance, Term Loans, and Equipment Loans for customers in Auto ancillary, Light Engg, Agro and Food Processing sectors while the Retail Enterprise provides Secured Business Loans, Equipment Loans to smaller enterprises with a turnover of less than INR 20 Cr which typically are Proprietor driven/ Partnership firms

The Mahindra Finance SME Fintech Challenge will launch on Wednesday 19 October 2016 and close for entries on Tuesday 15 November 2016 at 23:59 CET (Central European Time). Eligible fintech solution providers can enter for free in this challenge which is open to all firms around the world who have developed and built solutions that align to any of the following categories.

All entries received by the cut-off date of 15th November 2016 will be validated by Matchi analysts and then individually scored by a panel from Mahindra Finance, KPMG in India and Matchi on the following criteria: Potential Business Impact (revenue, cost or efficiency), Ease of Implementation, Novelty and Solution Fitment. Shortlisted firms will be invited to give presentation to the final judging panel on 28 November, 2016. Preference will be given to solutions that have successfully completed Proof of Concept (POC) implementations, especially in developing markets. Also important is the time it would take on average to complete a POC.

Require a system which enables near real time credit risk assessment

The solution could have a combination of some of the below functionalities:

• A built in learning model with pre-defined data points customizable as per requirements
• Indicators to provide information on funding eligibility, sure rejects etc.
• Analysis on Qualitative/Quantitative data (e.g. psychometric analysis/social data/ online data/ non-financial data etc.)
• High accuracy in pre-credit decisioning
• Integration with third party data sources such as VAT/Service tax, Forensic, RBI defaulter's list and other legal sites

Note: Make sure you capture the answers to the following questions:

• Mention time taken to provide credit risk assessment decision.
• Is the solution applicable to retail SME(small ticket size) customers?
• Is the solution applicable to corporate SME (large ticket size) customers?
• Does the system provide eligibility amount with the credit decision/score?
• What are the different sources of data used for credit risk assessment?  (E.g. customer financials, third party sources, customer non-financial data etc.)

Require an early warning system to predict increase or decrease in stress for a SME account

The solution could have a combination of some of the below functionalities:

• The input data comprises of financial/non-financial parameters
• System makes use of operational data of the customer such as inventory details
• The Data model comprises of lead indicators
• System captures industry trends and draw relevant insights
• Possibly utilize external data inputs such as regulatory portals, government portals etc. to generate early warning signals
• System accepts inputs from SME’s ERP/Accounting system

Note: Make sure you capture the answers to the following questions:

• Are there early warning signals at portfolio/sector level?
• Are there early warning signals at customer level?
• Does the system raise warnings based on macro events and external data sources?
• Does the system provide cross sell/up sell opportunities for customer?
• Can the system raise warnings without customer financial data?
• Examples of 5-6 lead/lag indicators used for early warning signals

Require a Digital solution for SME customers for cash flow management to help them understand the investment and liability position. [Business scenario: Currently SMEs have 1 or 2 large customers and are dependent on inflow from them. Hence accurate depiction of their cash position comprising of investments that can be made and liabilities to vendors will help to optimize their cash utilization]

The solution could have a combination of some of the below functionalities:

• The system provides a group/companywide visibility of the cash position
• Ability to integrate data from multiple sources to track customers debt, investment, account balances and credit lines
• Ability to predict cash and liquidity forecasts to cover deficit and investment needs
• Personalized MIS reports and configurable dashboards

Note: Make sure you capture the answers to the following questions:

• Does the solution cater to all SME sectors?
• Any sector specific customizations required?
• Can the solution integrate with existing ERP/Accounting solutions?
• Can data from existing systems be uploaded for cash flow projections?
• Does the system send mobile/email alerts?
• Is there a single dashboard view of cash and liquidity position?
• Does system predict deficit forecast?
• Does system predict investment forecast?
• Are there actionable recommendations provided with predictions?