Applications open for 2020 AFI Inclusive FinTech Showcase!
Are you a financial technology (FinTech) or regulatory technology (RegTech) innovator? Does your product use cutting-edge technology to help low-income groups in developing and emerging countries? If so, then AFI wants YOU to be part of its second FinTech showcase, which will take place as a virtual event from 26 - 28 October 2020.
Recognizing the power of FinTech and RegTech in creating transformative solutions that support and scale quality financial services, AFI is holding an open virtual competition for FinTech and RegTech innovators to showcase solutions that target low-income populations and contribute to effective COVID-19 crisis response, or building towards the recovery.
Apply before 31 August! Download the application form here!
FinTech and RegTech innovators selected as finalists will:
- have the opportunity to present and discuss their groundbreaking solutions through a virtual showcase with AFI’s membership of central banks, ministries of finance and financial regulators from more than 80 developing and emerging countries;
- be featured in a special AFI report highlighting how their solutions contribute to financial inclusion and COVID-19 response, which will be disseminated across the AFI network, the wider financial inclusion community, and beyond;
- be invited to a special dialogue session with AFI members hosting the Pacific Regional Regulatory Sandbox, the world’s first regional sandbox;
- have access to a mentoring training on pitching to investors and presenting business models provided by the Luxembourg House of Financial Technology (LHoFT).
In addition, the 1st, 2nd and 3rd placed finalists, as selected by an audience of AFI members and a panel of expert judges, will be offered a complimentary one-year membership at LHoFT.
We are looking for innovative solutions in at least one of the following nine themes:
|1||Youth entrepreneurs||Solutions that facilitate access to finance for youth entrepreneurs.|
|2||Supporting micro, small and medium enterprises through the COVID-19 crisis||Solutions that support crisis response for MSMEs.|
|3||Digital payments in the crisis response||Solutions for secure and efficient digital payments.|
|4||Innovative cross border payments and remittances||Solutions for more affordable and efficient cross-border payments, particularly in corridors impacted by global bank de-risking.|
|5||Financial health and lifetime planning||Solutions that support the ability of low-income individuals and communities in developing countries to plan and build financial resilience across the lifecycle and cope with financial shocks.|
|6||Digital identity for disadvantaged groups||Solutions that enable disadvantaged groups (as defined by AFI’s Kigali statement) to onboard efficiently to a range of formal financial services.|
|7||Digital financial literacy||Solutions that build enhanced digital financial literacy and contribute to strengthened cyber hygiene for low income users in developing countries.|
|8||Green digital inclusion||Digital solutions that strengthen the resilience of low-income communities in developing countries to climate change.
Digital solutions that enable low-income communities in developing countries to limit negative impacts on the environment.
|9||RegTech/SupTech for central banks||Solutions which enhance the efficiency of supervisory processes for Central Banks and other financial supervisory agencies.|
As a core cross-cutting theme to AFI’s work, all solutions will also be assessed for their contribution to women’s financial inclusion and closing the gender gap in access to formal financial services.
Is your organization a good fit?
We are looking for organizations whose:
- core product or solution serves low-income customers in AFI member countries or has a defined strategy for serving this market segment or deployment in these countries.
- product or solution enables fresh, meaningful dialogue with financial policymakers and regulatory communities due to their cutting-edge technology or innovative nature.
- product or solution is or has potential for scaling up and ensuring commercial viability.
- product or solution is operating, active and based in one or more AFI member jurisdictions.
Entrants can be start-ups, established financial institution or technology companies that offers a technology or innovation that aims to compete with traditional methods in the delivery of financial services.
Download the application form here!
Completed applications must be submitted to firstname.lastname@example.org before 23:59 Malaysia time (UTC +8 hours) on 31 August 2020.
Finalists will be announced on 2 October 2020. Each finalist will be given a dedicated slot between 26 and 28 October to deliver a virtual presentation on their innovative solution, followed by a Q&A session with AFI’s membership.
The 2020 AFI Inclusive FinTech Showcase is supported through AFI’s Multi-Donor Financial Inclusion Policy Implementation Facility (MD-PIF), with participation of French Development Agency (AFD), the German Federal Ministry of Economic Cooperation and Development (BMZ), and the Ministry of Finance of the Grand Duchy of Luxembourg.
AFI is the world’s leading organization on financial inclusion policy and regulation. A member-owned and member-driven network, AFI works on empowering policymakers to increase access and usage of quality financial services for the underserved through formulation, implementation and global advocacy of sustainable and inclusive policies.
About Luxembourg House of Financial Technology
The LHoFT Foundation drives technology innovation in the Financial Services industry, connecting and supporting the FinTech community to develop solutions that shape the world of tomorrow. It provides practical training and education to entrepreneurs on topics like business, funding, sales and marketing.