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Game-changing solutions to be showcased at FinTech Abu Dhabi

11 fintech solutions were shortlisted from 166 applications

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Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, in collaboration with KPMG shortlisted 11 outstanding global Fintech firms to demo live at the upcoming Fintech Abu Dhabi Summit where they will compete for the ultimate prize.

Overcoming stiff competition from 166 applicants who all entered the Global Innovation Challenge run by KPMG Digital Village and Matchi, the 11 successful companies come from a number of different countries including Singapore, India, Hong Kong, China, Canada, UK and UAE. 

The shortlisted firms are currently participating in a 5-week programme run by KPMG Digital Village where they've been tasked with developing their solutions to specific industry problem statements. All 11 firms will proceed to the FinTech Demo Day taking place on 22nd October, where two ultimate winners will be selected and invited to demonstrate their solution at the upcoming Singapore Fintech Festival.

The 11 shortlisted firms are:

  1. NewBridge FinTech (Fundshop) (UAE) - a UAE-based digital wealth solution provider to Private Banks, Wealth Management and Asset Management companies. Its flagship product, Fundshop, is an automated wealth management robo-engine which uses multiple processes to provide tailored and institutional level of portfolio advice to private clients on their existing and new wealth using a highly innovative, risk and trend-based algorithm.

  2. Alpha FinTech (Singapore) - a FinTech vendor enablement and management platform. Using a single API and a simple user interface, banks, payment gateways and enterprise merchants are now able to access both new and legacy vendors across the entire payment, risk and commerce spectrum. Alpha also introduces new value-add layers to optimise the utilisation and management thereof.

  3. Everledger (UK) - using the best of emerging technology including blockchain and smart contracts, Everledger's solution shifts the burden of the paper process onto a digital global ledger that is immutable, secure, scalable and fast. With a hybrid approach of public and permissioned ledgers, the permissible parameters of the records are easily managed. This redefines the way documentation is stored and data is shared, which is adaptable across numerous industries and highly mitigates risk and fraud with clear financial as well as insurance benefits.

  4. FRS Labs (India) - have built a digital solution that allows customers to open bank accounts from the comfort of their homes. They allow customers to scan any National ID, verify personal details, detect images, read facial expressions, and check for liveliness of the applicant and match with other compliance databases to detect risky applicants. The account opening process includes customer due diligence to detect risky applicants can be completed under ten minutes with dramatic reduction in cost for banks.

  5. ftcash (India) - aims to empower these small businesses with the power of digital payments and loans, only using a bank account and a feature phone. ftcash aggregates all payment methods including credit/debit cards, net banking, various mobile wallets, UPI, BharatQR and PayPal to create an open platform for merchants to initiate digital payments and provide institutional capital in less than five minutes.

  6. Market IQ (Canada) - is a simple app that helps users manage their financial life easily and effectively. It combines data from multiple sources like bank accounts, credit cards, insurance, and brokerages to provide a unified view of the user's financial life. Not only does the app make everything easy to understand with beautiful visualisations, it also interprets the data using its cognitive intelligence engine to surface insights in simple English so the user can better understand the story behind the numbers and take real action to save money and make money.

  7. Canopy (Singapore) - is a platform that allows all assets to be anonymously aggregated and viewed as a single portfolio, run portfolio analytics, and generate custom reports and more. Facing a lack of data feed from private banks, Canopy eliminates manual data entry by straight-through-processing data from any sources, including PDF statements. Having an aggregated portfolio view coupled with their innovative tools helps users to make sense of their data, resulting in better investment decisions.

  8. Silent Eight (Singapore) - is powered by artificial intelligence and built to think like an analyst. Silent Eight reviews all available data at lightning speed and provides analysts with useful, relevant information with each alert. This helps the analysts to conclude their investigations much faster and with far fewer mistakes.

  9. Privé Financial Limited (Hong Kong) - By empowering the financial advisors with superior intelligence and execution capabilities, Privé Managers presents a digital ecosystem geared towards enhancing client engagement through a personalized advisory approach. By coupling DaaS (data-as-a-service) and SaaS (software-as-a-service) models, Privé Managers presents a comprehensive solution for financial advisors to deliver an unparalleled degree of portfolio advisory services and ability to increase the share of their end-clients’ wallets.

  10. PIVOT (China) - uses AI and machine learning to bring investment management beyond human inefficiencies. PIVOT's algorithms are transparent and based on Nobel-winning Modern Portfolio Theory (MPT) to offer good long term risk-adjusted returns via globally diversified portfolios 24x7, with low fees and low entry investments. Therefore, PIVOT makes investing simple, convenient, digital, efficient and low fees.

  11. SQREEM (Singapore) – is a tech company in the field of artificial Intelligence with a software technology stack, and series of cognitive AI algorithms that allows one to understand & predict all aspects of human behaviour. SQREEM has developed one of the largest cloud hosted behavioural data acquisition capabilities databases in the world, where one is able to build personas, understand customer journeys, map behavioural intent to purchase, and in turn target consumers across any channel, in over 60 countries and all languages.

For more information or to set uo a meeting/ online demo with any of the above firms, please contact Catherine Miller.

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