Twenty finalists will pitch their solutions at the Global FinTech Hackcelerator Demo Day at the 2019 Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH).
The finalists were selected through two parallel scouting programmes – the Local Programme, to tackle problem statements originating from the financial industry in Singapore and the broader Asia region; and the International Programme, which comprises winners of FinTech competitions in other regions.
In the Local Programme, MAS shortlisted 10 winners from over 200 submissions from across 30 countries to address 70 problem statements in three focus areas –
- Financial Inclusion,
- Banking and Finance and
- a General category.
More than half of the submissions came from Asia, and a quarter were from Singapore.
The International Programme participants comprised 10 winners, two per country, from FinTech competitions in five countries (Abu Dhabi, Kenya, South Africa, United Kingdom and United States of America). More than 400 FinTechs participated in the competition across the five countries.
During Demo Day on 11 November, finalists will present their innovations and the top three winners will win S$50,000 in prize money each.
All 20 finalists will also receive a S$20,000 cash stipend and be fast-tracked in their applications to receive grant funding under the MAS Financial Sector Technology and Innovation (FSTI) Proof-of-Concept Scheme.
Each finalist will be given a start-up kiosk at SFF x SWITCH exhibition to showcase their solutions. The finalists were also invited to a dedicated Deal Friday networking session in October to meet potential investors.
The Global FinTech Hackcelerator, supported by KPMG Digital Village, matches innovative market-ready solutions to address real industry needs.
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator continues to be a great platform for FinTechs to showcase and contextualise their innovative solutions for the industry. Many finalists from the past three years of this programme have gone on to achieve successes in the industry. Some of them have also secured partnership deals with their Global FinTech Hackcelerator corporate champions. We look forward to more success stories coming out from this year’s finalists.”
Mr Chia Tek Yew, Head of Financial Services Advisory, KPMG Singapore said, “The International Programme has allowed us to reach out to the international FinTech community and bring fresh ideas into the Global FinTech Hackcelerator programme. We found FinTech players with innovative solutions to address pressing issues, such as around financial inclusion, to help developing countries facing similar issues in the South-East Asia region.”
360F, top-four InsurTech of the Year at the 4th Asia Trusted Life Agents & Advisers Awards 2019, is one of the top 20 global finalists.
It will be pitching its 360-ProVestment solution. It is an artificial intelligence-enabled product recommendation engine for life insurance and wealth management. It strives to provide institutions with a reliable means to leverage their in-force policy data to not only identify up-sell and cross-sell opportunities but also detect the need for product portfolio review and prepare the customers for their next life stage.
Read also: Where can the financial advisory industry innovate better?
Global FinTech Hackcelerator Demo Day Schedule
The Demo Day is happening on 11 November, 1-4.45pm. There will be a 5-minutes ‘live’ pitching session by Global FinTech Hackcelerator finalists, followed by 5-minutes of Q&A by a panel of industry judges.
Catch 360F at these time slots:
About SFF & SWITCH
Singapore FinTech Festival (SFF) is the world’s largest FinTech festival and a global platform for the FinTech community. The 2018 festival saw 45,000 participants from over 127 countries, hosted more than 250 global luminaries and 480 exhibitors.
SWITCH is where companies identify new technologies for business transformation and where collaborations are formed. It convenes entrepreneurs, investors, researchers, innovator and industry professionals from diverse backgrounds.
Find out the full list of 20 finalists here.
Check these out:
Life insurance: Prepared for a digital future
InsurTech of the Year 2019 - Goalsmapper
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