20 Fintech firms have been shortlisted
The Monetary Authority of Singapore (MAS) today announced the finalists for the 2017 Global FinTech Hackcelerator.
In May 2017, MAS published a catalogue of 100 problem statements gathered from the financial industry and invited the global FinTech community to develop new and innovative solutions to any of the problems for the Global FinTech Hackcelerator. The problem statements were grouped into 4 categories: Customer-Facing, Financial Inclusion, RegTech, and General.
MAS received 580 submissions from over 40 countries. From the submissions, 20 teams were shortlisted by a panel of industry judges.The entries were evaluated on (i) Relevance, (ii) Competitive Advantage, (iii) Revenue, (iv) Scalability, (v) Business Stage, and (vi) Team Experience.
The Global FinTech Hackcelerator provides a platform for the finalists to work with corporate champions and industry mentors to convert their proposals into market-ready solutions by the time of the FinTech Festival.
The shortlisted team participating in this year's Global FinTech Hackcelerator are:
- Customer-Facing ERNIT (Denmark)
- Moxtra (India)
- PayKey (Israel)
- Smartfolios (Singapore)
- SnapCheck, Inc. (USA)
- Financial Inclusion AID:Tech (UK)
- Alternative Circle (Kenya)
- ConfirmU (Israel)
- ftcash (India)
- MyCash Online (Malaysia)
- RegTech Apiax (Switzerland)
- Dathena Science (Singapore)
- Solus Connect (Malaysia)
- Trunomi (USA)
- VoxSmart (UK)
- General Kyckr (Ireland)
- Lingua Custodia (France)
- Privé Services (Hong Kong)
- Roameeo (Australia)
- SQREEM (Singapore)
These teams will undergo a 12-week programme, led by KPMG Digital Village, during which they will work and meet with corporates, investors, partners and regulators.
The teams will present a working prototype of their solutions at Demo Day, which will be held on 16 November 2017 (Day 4 of the FinTech Festival). This will be followed by a Q&A session with the judges. The Demo Day judging panel, which represents a cross-section of the financial industry, will evaluate teams on their relevance to address the problem statement, company’s business potential, innovativeness of idea, and team profile and ability to execute.