The top 12 innovative and sustainable fintech solutions have been shortlisted for the Global Fintech Hackcelerator @ Southern Africa.
The South African Reserve Bank (SARB) will host a Fintech Demo Day on 29 October 2019 to select the two winning solutions.
In August 2019 the SARB joined forces with KPMG Matchi to run the 2019 Global Fintech Hackcelerator @ Southern Africa, an acceleration programme that creates a platform for fintech firms to demonstrate their innovative solutions to complex financial challenges in the Southern African region. Fintech firms from all over the world were invited to submit an application in response to problem statements constructed in collaboration with the SARB.
The regional hackcelerator received 95 entries from interested fintech firms located across the globe. All responding firms were validated by KPMG Matchi’s analysts and scored by a team of 24 industry executives from the following organisations: Absa, Capitec, Discovery, the Financial Sector Conduct Authority (FSCA), FirstRand Group, Investec, Liberty Group, National Treasury, Nedbank, SARB, Standard Bank, and the Technology Innovation Agency.
The 12 shortlisted respondents will showcase their solutions at the Fintech Demo Day on 29 October 2019 in Johannesburg, South Africa. The event seeks to explore sustainable financial services innovations that must address real-world financial services challenges. A panel of judges from the SARB, FSCA as well as local and Asian industry experts will select and announce two winning solutions.
Each Global Fintech Hackcelerator @ Southern Africa 2019 winner will:
* Receive a stipend towards travel expenses to attend the 2019 Singapore Fintech Festival;
* Get an opportunity to pitch their solution live during the Hackcelerator Demo Day at the 2019 Singapore Fintech Festival and engage with industry experts;
* Receive funding to develop a contextualised proof of concept, to be deployed within a year from the Demo Day; and
* Work with high-value corporates to contextualise a solution to their needs, while obtaining market entry into the Singapore and Asia-Pacific region.
Over and above the Global Fintech Hackcelerator @ Southern Africa gains, the top three winners at the Singapore Fintech Festival will each receive a cash prize.