FinTech continues to be the hot topic of the new year. The competition to win the coveted “Best in Show” at the Hong Kong FinTech Finals 2016 (FF16) to be held in on January 26 proves the same. The 2016 FinTech Finals pitch competition wrapped up its regional semi-finals in Sydney, Singapore, Seoul, Mumbai, Kuala Lumpur and Bangalore. The semi-finalists were selected from 60 shortlisted teams invited to pitch their company before live audiences and judges to see who would get the coveted opportunity to go on to Hong Kong for the opportunity to win the FinTech Finals 2016. Twenty-four startups from across APAC are now vying to be “Best in Show,” but only one lucky winner will receive USD$10K as well as a range of partnership offerings.
The 2016 FinTech Finals, organized by NXT BNK and FinTech HK, is part of the StartmeupHK Festival 2016 and promises to be Asia’s biggest FinTech conference and pitch competition in 2016.
Next Bank is a financial technology community which serve as a network for designers, entrepreneurs and finance industry executives. Next Bank’s Founder Rob Findlay, commented in the press release, “The FinTech Finals are going to be the FinTech event of this year in Asia, and perhaps beyond. Between the amazing lineup of global speakers, the incredible burgeoning talent within each of these startups, and the support and enthusiasm from all the sponsors such as Visa, FF16 is sure to be a fantastic event not to be missed.”
The event is supported by Visa for the competition and Startup Village. Matt Dill, Senior Vice President, Innovation & Strategic Partnerships, Visa said, “It is great to be able to shine a light on interesting FinTech activity in the region and develop a support network for Asia-based entrepreneurs. Visa’s strategic partner programs and venture activities help companies at different stages of growth connect with thousands of banks and millions of customers worldwide.”
In addition to the FF16, Next Bank and Visa will continue their work together throughout Asia to support city chapters to promote discussion, innovation and entrepreneurship in the finance industry.
Here are the winners of the regional semi-finals:
- InvoiceInterchange (Singapore) provides an alternative to traditional financing for SMEs, and gives them flexibility in managing cash flows.
- ShereIt (Mumbai) is an app for social trading.
- vLendRight (Bangalore) is a platform for banks to deliver an end-to-end auto purchase platform for its customers in collaboration with partner dealers.
- MacroVue (Sydney) is an online platform that assists people in investing in global themes of their choosing.
- Finotek (Seoul) is a platform providing identity verification for Internet banking as well as cloud-based mortgage processing.
- CurrenSeek (Kuala Lumpur) is an app that allows users to find the best rates nearby to exchange their money.
With regard to being chosen to compete in FF16, CurrenSeek’s Co-founder, Hakim Karim, said in the press release, “It’s exciting and somewhat unexpected, to be honest, to be selected. It’s an honor and we hope we can do Malaysia proud.”
The 24 teams consist of the six winning regional semi-finalists. Six teams will join from regional incubators and accelerators. Startupbootcamp FinTech, Accenture FinTech Innovation Lab, Innotribe, BBVA Open Talent, Nest and Visa are each sponsoring a startup competitor. Out of the hundreds of FinTech startup applicants to apply through the FinTech Finals 2016 website, only the top 12, vetted by 50 FinTech experts, are part of the final 24 to demo live at FF16.