3 Innovator Members awarded POC Projects
In the business of matching the world’s finest innovations with forward-thinking fintech buyers around the globe, Matchi is delighted to announce that three Innovator Members have each won the opportunity to test their grounding-breaking solutions and refine their business models with a paid-for proof of concept project via Business Banking at Barclays Africa.
The 3 winning innovations are:
- Enabling Customer Engagement - by IDMission
- Pre-Approve and Bank Filing - by Luminous
- ValuationUp - by Valuation Up
The pilot projects are the outcome of the Barclays Africa challenge, hosted and managed by Matchi with the aim to discover specific and market-ready fintech solutions that solved key problem areas- as defined by the Barclays Africa Business Banking team.
Launched on 23 February, 2015, the challenge encouraged the Matchi innovator community to respond with their solutions across categories of Lending and Credit, Relationship Management and Client Service, Sales Tools and Processes as well as Internal Bank Systems and Data. The challenge ran for one month and closed with over 50 high-quality responses from fintech innovators and firms (and even a bank) across 20 countries, including Croatia, the Czech Republic, Germany, Poland, Switzerland, India, Singapore, England, Israel, and the United States.
Each response was validated and individually scored by a panel of representatives from Barclays Africa, Matchi and KPMG. From there, a facilitated judging process took place at the Barclays Africa’s head office on 14 April, where the initial ranked list of submitted entries was reviewed and discussed by the panel in order to determine the Top 6 responses - who were subsequently invited to present their solution to the Business Banking Executive Committee.
The Top 6 responses were:
Category: Sales Tools and Processes
Category: Relationship Management & Client Service
Category: Internal Bank Systems & Data
Category: CLending & Credit
Category: General (Joint Finalist)
Category: General (Joint Finalist)
The final presentations were facilitated by Matchi and took place at Barclays Africa’s head office on 18 May 2015. Each of the Top 6 innovators had 30 minutes to impress the Executive Committee of Business Banking and compete for the prize of a paid-for proof of concept project at the bank.
The Executive Committee was so captivated with the quality and implement ability of all the finalists that instead of just one, they awarded three paid-for pilots to the group of 6 shortlisted Innovator Members- with a commitment to commence the projects within the calendar year.
With the successful matchmaking of three of the newest and best fintech innovations from across the globe, the success of the Barclays Africa challenge further supports that running an innovation challenge with Matchi is one of the fastest ways for a bank to identify and source targeted, relevant, market-ready solutions from outside of their organisation.
