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Mahindra Finance SME Fintech Challenge


The challenge opens for entry on Wednesday the 19th of October and closes for entry on on midnight (Central European Time) Wednesday the 16th of November 2016

Mahindra Finance SME Fintech Challenge
Powered by KPMG in India and Matchi
Event Description
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
What's in it for you
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.
How will your entry be scored
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.

Challenge Categories
Real Time Credit Risk Assessment
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.)
 This Challenge is closed for entry
SME Risk Monitoring
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
 This Challenge is closed for entry
SME Cash Flow Management
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?
 This Challenge is closed for entry

Interactive Challenge Timeline

Current Phase in Challenge

 Challenge has Ended

Challenge Phase Dates

  • Entry: 19th October to 16th November
  • Entry Validation: 17th November to 22nd November
  • Scoring: 23rd November to 7th December
  • Shortlist: 8th December
  • Facilitated Judging: 9th December
  • Shortlisted Finalists Announced: 10th December to 14th December
  • Final Judging Process: 15th December
  • Announce Winner/s: 16th December



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