The challenge received a total of 60 qualifying responses from firms located in 16 countries that span across Europe, USA, UK, Asia, Middle East, Australasia and Africa. The Top 20 responses were shortlisted and announced on 3 November, with each finalist winning free exhibition space at the Standard Bank Fintech Innovation Showcase (value $1,500).
Through a second and final adjudication process, each of the Top 20 responses was again scored on originality, applicability, capability and overall impression in order to finalise the winning response in each category.
The Winners are:
1. Security & Fraud Reduction
Runners-up: Rippleshot (Chicago), Feedzai (Portugal)
2. Mobile Payments & Customer Service
Runners-up: Sedicii (Ireland), Nomosphere (South Africa)
3. Lending & Alternative Financial Services
Runners-up: FireWorks (South Africa), FriendlyScore (England)
4. Personal Financial Management & Investment
Runners-up: Monipulse (Florida), SavedPlus (California)
5. Business Banking & SMEs
Runners-up: FireWorks (South Africa), Nihilent (India), Appdator (Israel), Riskflow (South Africa)
6. Corporate Banking Solutions
BCL Technologies (California)
Runners-up: FireWorks (South Africa), Market Prophit (New York City)
Congratulations to the six winning firms who have won themselves an all-expenses-paid trip to South Africa where they will participate in the final leg of the Matchi Innovation Sponsor Summit and present their fintech solution and team capabilities to a panel of Matchi Member Banks. In turn, the participating banks will explore individual and collaborative opportunities around each solution whilst evaluating the firms as potential long-term development partners.
Paul Steenkamp, Head of Innovation Capability at Standard BankOpen innovation involves collaborating across industries and geographies to solve for heartfelt challenges that are of mutual interest and benefit. We believe in the principle that '1 + 1 = 3'. The Standard Bank/Matchi Innovation Sponsor Summit underlines our commitment to partner with world class companies, in ways that help deliver more of the things that matter to our customers.
The Top 6 firms (along with the 14 runner-up firms) have also won exhibition space at the Standard Bank Fintech Innovation Showcase on 5 December in Johannesburg. All exhibitors at this boutique event will meet and demo their response to Innovation leads from Matchi Sponsor Banks (including Standard Bank, Caixa Bank and Bank Hapoalim) as well as the fund management team from Standard Bank, invited accelerators, investors and local media.