Mystery Bank launches SME Fintech Innovation Challenge with Matchi
The Global FinTech Community has been challenged!
In partnership with Matchi, a mystery bank is challenging the global FinTech community to respond to the SME FinTech Innovation Challenge!
The "challenger bank" is the largest in its region with over 35,000 SMEs in their portfolio. As such, they are committed to the development of SMEs and are looking for ways to improve their customer value proposition for this segment.
The challenge launches at midnight UTC on 22 February 2016 and closes at midnight UTC on 21 March 2016.
There are 3 exciting categories in the SME FinTech Innovation Challenge:
- SME Lending
Solutions that aim to simplify the end-to-end customer journey for SMEs, from loan application to credit decisioning to loan disbursement. - Mobile Application
A Mobile Bank app that includes basic features such as accessing accounts balance, authorizing payments and transacting online; but is also a financial assistant. - B2B Market Place
An online platform where B2B sellers can promote their services and Buyers can order, pay and benefit from specials. The bank provides an online payment gateway, credit and trade facilities to enable all transactions.
FinTech firms are encouraged to respond to any one of the above categories with a market-ready (at least at prototype phase) and relevant solution that adheres to the below design principles:
- Simple to understand and use
- User-Centered
- Responsive, i.e. adaptable to any mobile device (with the exception of mobile-specific apps)
- Mobile First - solutions must be able to deliver a great customer experience on a smartphone
When you log in to enter a specific category, you will have access to a video brief from the challenger bank whose identity will then be revealed.
The two highest ranking innovations in each of the three categories (total of 6) will have an opportunity to present their solution to a judging panel from the bank on 21 April 2016. From there, at least one innovation will be announced as the ultimate winner and that firm will continue through to the PoC project phase within the bank.
For more information contact Catherine Miller at or enter directly at https://matchi.biz/sme-challenge
