Top three winners of the Global FinTech Hackcelerator 2017, powered by KPMG Digital Village, revealed at Singapore Fintech Festival.
The three winners were selected from a pool of 20 finalists that presented their 5-minute pitch in front of a judging panel, and thereafter a question-and-answer segment with the judges at Demo Day on 16 November, as part of the 2nd Singapore FinTech Festival.
The winners are (in no order of merit):
Moxtra is an embeddable Secure Messaging and Business Collaboration Service for the mobile on-demand era that helps transform business critical applications for mobile and web with powerful collaboration.
SQREEM offers a platform that delivers asymmetric information in real-time on virtually any market, economy, or company around the world. SQREEM data can be fed into existing risk management systems and trading platforms, or accessed via custom dashboards developed specifically for individual clients. The firm offers AML and KYC solutions to track external market events, trends and insights.
Trunomi provides customer consent and data rights management technology which enables businesses to request, receive and capture customer consent to the use of their personal data. For the business we create consent receipts and convert them to customer data rights accessible across all data systems. We enable businesses to comply with regulations by putting in place auditable workflows to record and prove lawfulness of processing of customer data.
The Global FinTech Hackcelerator, powered by KPMG Digital Village, received 580 submissions from over 40 countries. 20 teams were shortlisted by a panel of industry judges to participate in the 12-week programme. The teams worked with corporate champions and industry mentors to tailor and refine their market-ready solutions into contextualised prototypes and implementable use cases for the industry.
The judges selected Moxtra, SQREEM and Trunomi as winners based on their ability to address the problem statement, innovativeness in the application of technology, and ease of adoption and scalability. Each team received a cash prize of S$50,000.
What the organizers and judges have to say about the Global FinTech Hackcelerator:
Chia Tek Yew, Head of Financial Services Advisory, KPMG in Singapore:
“The commercial viability and ease of adoption of each of the top 20 finalists was a very important criteria in this year’s Global Fintech Hackcelerator. We are already seeing the corporates in financial services taking an interest in some of their solutions, and making concrete plans to work together on pilot projects for potential implementation within their business.”
Jan Reinmueller, Head of Digital Village, KPMG in Singapore:
“The true value of the Global Fintech Hackcelerator is moving the needle on corporates’ approach to fintech innovation. I definitely encourage the financial services community to study the proposals and solutions that the winners and finalists have presented, and pursue opportunities for co-innovation. In doing so, the overall industry will be addressing the challenges identified at the start of this journey, and benefitting from it.”
Ian Pollari, Global Co-Leader of Fintech, KPMG International:
“The winners of the Global Fintech Hackcelerator have demonstrated strength in the application of innovative technologies, the commercial uniqueness of product, and ability to scale beyond a single market or customer segment. The challenge now is for financial institutions to find and focus on the most executable fintech opportunities, whether it is to radically transform their business or drive incremental innovation.”
Jeremy Anderson, Co-Chairman, Global Financial Services, KPMG Global:
“It has been an exciting day for fintech, and for myself as a judge of the Global Fintech Hackcelerator, to see how innovation is having a major impact on financial services for the benefit of customers and businesses. The depth and breadth of technologies applied, the global representation in the Hackcelerator, and the supportive environment for new technology championed by MAS, continues to place Singapore in the global spotlight for fintech.”