Customer Onboarding Global Innovation Challenge seeks fintech startups

The Customer Onboarding Global Innovation Challenge aims to disrupt customer onboarding and management through collaboration with fintech firms around the world and is presented by financial network platform Matchi along with ATB Financial and KPMG Canada.

“ATB believes in reimagining banking and we’re always on the lookout for transformative new experiences to offer our customers,” said ATB’s MD James Gamage in a press release.

“That’s why we’re excited to partner with KPMG and Matchi, to expand our reach into the global fintech community and discover novel new propositions to make banking work for people,” he added.

Entries for the challenge opened on 29 March and close on 19 April.

All entrants will be evaluated by analysts from KPMG and Matchi and will be scored individually by a panel of executives from ATB Financial. The entrants with the highest ranking solutions will be invited to pitch to another panel consisting of all three entities who will, in turn, select at least two winners.

The Customer Onboarding Global Innovation Challenge aims to disrupt fintech

“This fintech challenge is a unique opportunity to promote innovative solutions to this market and support a major Canadian financial institution in their strategy, to enhance the customer experience and achieve new levels of operational performance,” said financial service partner at KPMG, David Bolton.

The winners of the Customer Onboarding Global Innovation Challenge will have the opportunity to prove both the value and the impact of their solution. This will be done through a paid-proof-of-concept project at ATB Financial.

“We’re excited to be working with ATB Financial and KPMG Canada to help them source high-quality, proven fintech solutions from around the world that can have a real impact, for the business, for their innovation agenda, and ultimately for ATB customers,” said Bolton.

The challenge will be split into four categories:

Seamless Know Your Customer (KYC)

• The solution should re-imagine capturing client data.
• It should be adaptable to any situation.
• It needs to be applicable to retail as well as small business banking clients.

Automate Onboarding

• The solution should be able to automate the collection of relevant data needed for product fulfillment, as well as automate existing client data across ATB.
• It should also be able to be applied to small business banking clients and if possible, retail clients.

Ecosystem Information Flow

• The solution should address the movement of documents between real estate or mortgage transactions.
• Be able to extend to other service providers such as credit card and item processing.

Emerging Identity Tech

• The solution should be able to be commercialised in the next three to five years.
• It can include technologies such as blockchain, advanced biometrics, wearables, IOT and many others.

Entry to the challenge is done exclusively through the Matchi portal.

Featured image: Michael Coghlan via Flickr