2018 CBE fintech challenge: you did it!
Found A Dye Stained Note In Your Possession? Do The Right Thing!
June 7, 2018
Financial Innovation Conference Press Statement
November 21, 2018
We called for the 2018 CBE FinTech Challenge proposals and your responses exceeded our expectations. Congratulations to everyone who submitted their applications. The deadline for applications was Friday, 14 September 2018 and we closed with 82 applications, 37% more than the initial target of 60. Swati led start-ups, teams of young professionals and experienced business personnel including students within and outside the country (as far as UK) submitted great ideas and outstanding
technology-anchored financial services delivery proposals.
Ideas that were received are aimed at addressing multiple gaps and taking advantages of opportunities in the financial services sector. Submitted solutions also include improving customer experience, providing alternative access to financial services and digital infrastructure for informal marketplaces and FinTech support for SMEs and the main sectors of the economy.
The next stage in the Challenge was the shortlisting of 30 teams by a jury of fintech professionals, who then attended a week long bootcamp at the Royal Science and Technology Park. From the 30 teams, ten will be selected and announced within the next two weeks.
Applications covered multiple fintech sub-sectors and products, encompassing the following:
- Alternative credit scoring
- Budgeting and e-loans
- Cryptocurrencies
- Cyber Security
- Digital on boarding (e-KYC)
- InsureTech
- Mobile Wallets
- Offline Payments
- Remittances
- Crowd funding
- Peer-to-peer lending
- Payment gateways
- Personal finance
- e-commerce platforms
- PropTech
- Shared savings management
- Open API
Proposed ideas are aimed at addressing multiple financial services sector inefficiencies. Solutions span; improving customer experience, providing alternative access to financial services and digital infrastructure for informal marketplaces and fintech support for SMEs and main sectors of the economy. Today we feature nine of our thirty finalists who were shortlisted and went through the one-week boot camp training at the Royal Science and Technology Park.
