Canadian Institute launches Global Fintech Challenge with Matchi

Matchi and KPMG Canada team up to showcase the world's best fintech.

Matchi has teamed up with KPMG and the Canadian Institute to host an exclusive global fintech challenge that aims to shortlist and match the world’s hottest fintech solutions with the top fintech priorities of Canada’s leading Financial Institutions.

The Canadian Institute FinTech Challenge 2016 is a global call for proven fintech solutions that align to any of the six key focus areas (categories for submission) which have been pre-defined by Canadian Imperial Bank of Commerce, CIBC Mellon, Bank of Nova Scotia, TD Bank Financial Group, Alberta Treasury Branches, Sun Life Financial and Aviva Canada.

The financial services sector in Canada is recognized as one of the strongest in the world. Canada currently has a number of institutions ranked in the global top 50 and is supported by a banking system that the World Economic Forum has ranked as the soundest in the world for seven years in a row. This fintech challenge is a unique opportunity to promote innovative solutions to this market and support major Canadian financial institutions in their strategies, to enhance the customer experience and achieve new levels of operational performance. David Bolton, Financial Services Partner, KPMG.

The challenge is open to all firms around the world who have developed and built solutions in any of the following fintech themes:

Theme 1: Digital Labour

Artificial intelligence for financial services processes
Robotic Process Automation Machine learning

Theme 2: Wealth Management

Goals based planning
Robo Advising
Personal Financial Management

Theme 3: Peer to Peer Financial Services, including payments component

P2P Insurance
P2P Lending Theme

Theme 4: Data & Analytics

Theme 5: Blockchain

Smart Contracts
ID Management

Entry to the challenge is exclusively through the Matchi portal at matchi.biz/cifintechchallenge2016. On the Matchi site, fintech firms can find details of exactly what the challenge is looking for. Prospective entrants can then login or sign up to submit an overview of their innovation, and motivate why it should be selected for this unique opportunity.

“This is a priceless opportunity for six fintech firms from anywhere in the world to win face-time with some of Canada’s leading financial institutions that have already pre-defined their focus areas and who are actively seeking market-ready innovations from outside of their organizations.” David Milligan, CEO Matchi.

All entries will be validated by Matchi analysts and then individually scored by a panel of Innovation thought leaders on: novelty/innovativeness, ease of implementation, potential impact (revenue, cost or efficiency) and overall impression.

The highest ranking solution in each theme will be invited to Toronto to pitch their innovation in person to key decision makers from the participating Financial Institutions. Each of the shortlisted solutions will also win a live demo on stage during the Canadian Institute’s upcoming Fintech Forum which takes place from 18 October 2016 – 19 October 2016.

“As a Canadian owned and operated business, Canadian Institute is proud to offer organizations from around the world the opportunity to participate in this challenge. We are looking forward to fostering international collaboration; combining global innovation with Canada’s solid banking sector to modernize and grow financial services for the future.” Andrew Jensen, Managing Director, Canadian Institute.

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