FIS Challenges Nearly 200 Startups to Pitch their Boldest Ideas in First APAC Fintech Competition
December 01 2022 - 8:30PM
Business Wire
Key facts:
- FIS has expanded its InnovateIN48 fintech competition to
startup fintech companies in the APAC region for the first
time.
- The competition welcomed nearly 200 fintech companies from 11
APAC markets to develop and pitch their innovative ideas to FIS
leaders.
- InnovateIN48-Partner Edition is an opportunity for FIS to use
its strength to drive innovation throughout the APAC region and
help early-stage fintechs develop their ideas and build a proof of
concept.
Global financial technology leader FIS® (NYSE: FIS) today
announced the expansion of its annual InnovateIN48 fintech
competition to include early-stage fintech startups in the APAC
region. Originally an employee-based innovation competition in
2013, FIS expanded the InnovateIN48 program to students in 2021.
InnovateIN48-Partner Edition is the first time the company has
hosted an ideation competition for startups in the APAC region.
Open to early-stage APAC fintech startups with market-ready
solutions, InnovateIN48-Partner Edition welcomed nearly 200
companies from 11 markets, including India, Singapore and
Australia, to develop and pitch their innovative ideas to FIS
leaders within a 48-hour window. Participants had the option to
create standalone solutions or integrate their ideas with FIS
technology to solve industry challenges – all under the 2022 themes
of Data Innovation, Digital Assets, and AI in Fintech.
Keynote speaker Sopnendu Mohanty, Chief Fintech Officer of the
Monetary Authority of Singapore, and other speakers discussed
current industry trends aligned with these themes, while
registrants from 35 countries learned about FIS’ innovation
ecosystem, products and APIs.
The event concluded with a demo day for presentations.
The InnovateIN48-Partner Edition finalists are:
- EdgeNeural – Provides a modular, fully-integrated
workflow to easily train, optimize, deploy and manage AI neural
networks.
- Finarkein – OpenData OS helps move data from siloed
datasets to open access and from corporate ownership to end-user
ownership. The solution unlocks economic, societal and governance
benefits across sectors.
- IntelleWings – Created a screening database that checks
all patterns of money laundering, terrorism, smuggling, drug
trafficking and fraud from global sources.
- Koinearth – The company’s marketsN platform enables ESG
compliance, supply chain finance and operations efficiency through
secure data sharing in B2B ecosystems.
- LegitDoc – Offers a solution to help organizations issue
tamper-proof digital documents that can be verified quickly from
anywhere.
- Oriserve – An end-to-end provider of conversational,
AI-powered chatbots designed to automate the customer
experience.
- Payscript – Provides a cryptocurrency payment platform
that allows consumers to buy, sell, swap and spend crypto through
an easily accessible and secure wallet.
- Tathya Earth – Developing a platform to provide a near
real-time dataset and insights on the commodities supply chain
using satellite data.
- Yuva Pay – A neobank that fosters financial inclusion at
a grassroots level.
Winners of the 2022 APAC competition will receive support from
event partners and regulators, including a possible entry (subject
to eligibility criteria) into the regulatory/innovation sandbox and
fintech grants (as applicable) from IFSCA, which is a unified
regulator regulating financial products and services in the
specially created jurisdiction of IFSC in India. Those selected
will also have potential opportunities to further develop their
ideas and build a proof-of-concept through FIS initiatives such as
FIS Impact Ventures, FIS Fintech Accelerator and FIS Alliance
Network.
“InnovateIN48 is in its tenth year at FIS and we’re thrilled to
open the competition to startups in the APAC region, one of the
fastest growing economies in the world,” said Vishad Gupta, Head of
the Global Delivery Organization at FIS. “Our goal is to engage
early innovators who have new ideas with a lot of potential to help
shape how the world pays, banks and invests. We’re so pleased to
have worked with such a strong group of cohorts and congratulate
all the finalists on their outstanding presentations.”
Learn more about FIS’ InnovateIN48-Partner Edition as well as
InnovateIN48.
About FIS
FIS is a leading provider of technology solutions for financial
institutions and businesses of all sizes and across any industry
globally. We enable the movement of commerce by unlocking the
financial technology that powers the world’s economy. Our employees
are dedicated to advancing the way the world pays, banks and
invests through our trusted innovation, system performance and
flexible architecture. We help our clients use technology in
innovative ways to solve business-critical challenges and deliver
superior experiences for their customers. Headquartered in
Jacksonville, Florida, FIS is a member of the Fortune 500® and the
Standard & Poor’s 500® Index. To learn more, visit
www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter
(@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20221201005121/en/
Kim Snider, 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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