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Twenty fintech businesses from around the world — 12 early-stage and eight growth-stage companies — have been chosen to pitch for US$50 000 at Sibos in Singapore 14 October. The event forms part of SWIFT‘s Innotribe Startup Challenge.
Earlier this year, a total of 60 companies were chosen to pitch during regional showcases in London, Cape Town, Singapore and New York.
Company founders were given the opportunity to present their businesses to an estimated 800 industry experts, VCs and representatives from leading financial institutions.
Innotribe’s head of markets management Fabian Vandenreydt explains that the Innotribe Startup Challenge has successfully connected the SWIFT Community with more than 650 fintech startups from around the world:
This programme not only supports community engagement, but also enables SWIFT and its member institutions to stay abreast of current innovation activity in today’s fast changing landscape. Innotribe was one of the initial facilitators to help accelerate and spread the first wave of fintech innovation across the industry, and we will continue to play an important role in this process.
Uganda-based mobile wallet app for businesses IntelWorld will be traveling to the event alongside South Africa’s Notafy, which provides a bulk instant messaging service, and YueDiligence — an online due diligence tool for entrepreneurs, investors, and service providers.
As listed on the Innotribe website, the rest of the competing early-stage finalists are as follows:
Pariti helps people to avoid high-interest debt, access fairer rates of credit, and build a more secure financial future by offering tools, guidance and access to low-cost loans.
Revolut allows customers to exchange currencies at interbank rates — send them through social networks and spend money with a multi-currency card accepted anywhere.
Sedicii proposes a technology based on the Zero Knowledge Proof Protocol — eliminating the transmission, storage and exposure of private data during authentication or identity verification.
Bitspark is a leading crypto-financial services provider for the APAC region — pioneering the world’s first blockchain powered end to end Remittance service in addition to a blockchain auditable feature rich trading exchange.
Jewel Paymentech is a Singaporean company providing an automated risk management platform for banks and payment facilitators to manage e-commerce merchant risk through predictive analytics.
Trustingsocial is inventing consumer credit rating for emerging markets by applying Big Data and Deep Learning technologies to social — mobile and web data.
Hyper is developing Hyperledger — a distributed ledger platform tailored for financial institutions to help mitigate settlement risk and prevent trade breaks and cut reconciliation costs.
SizeUp provides financial institutions with big data for their small business customers to make smarter decisions through data.
Token helps banks meet the requirements for fast and secure payments by providing an end-to-end payments ecosystem accessible to developers where all transactions are authorised using digital signatures.