Fintech Innovation Challenge is open for entries
28 Jul 2016
** PLEASE NOTE: Applications for the challenge are now closed. **
We’re looking for fintech startups who have the potential to transform the financial services industry, to take part in the Fintech Innovation Challenge at our conference, The Point 2016.
Taking fintech to the next level
We’ve introduced the challenge to foster innovation and support Kiwi startups by providing a platform for emerging fintechs to promote themselves to the industry. This is aligned with Payments NZ’s role to promote innovative, open, efficient and safe payments systems so Kiwis can pay who they want, when they want and how they want.
Sponsored by Paymark, the challenge gives fintech startups the opportunity to present their ideas to a room full of industry experts, gaining exposure to an audience of thought leaders and influencers from across the financial services sector.
Five finalists will compete in a round of quick-fire presentations in front of a panel of industry experts and the conference delegation to win a cash prize of $5,000 as well as mentoring and associated networking opportunities. The finalists and runners-up will also have the opportunity to exhibit on the fintech stand at the conference.
The importance of fintech
Where finance and technology meet lies a concept that has been accelerating the pace of change and redefining the financial services sector – aptly named fintech. As highlighted in the PwC Global FinTech Report March 2016, fintech is now riding the waves of disruption, instigated by powerhouses such as Uber and Facebook, developing solutions that can better serve customers by offering enhanced accessibility, convenience and tailored products.
As millennials move up in the global economy, changing the demographic of the standard financial services consumer, the need to make financial services more customer centric is more apparent than ever. And businesses agree, as the PwC Global FinTech Survey showed that 75% of respondents thought that the most important impact to their business from fintech would be the ability to meet changing customer needs with new offerings.
It’s a new world of startups, innovative ideas, challenger brands and ‘disruption’ and in order to progress and keep challenging the norm, fintech needs support.
How to enter the challenge
The Fintech Innovation Challenge is open to new or recently established innovative, technology-enabled startups and entry is free. So if you’re an innovative fintech startup working in any area of financial services or a supporting sector such as cyber-security, digital identity and data analytics, get your entry in.
Applications close at 5pm on Monday 12 September 2016.