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FinTech 2021

What is FinTech?

Fintech is a portmanteau of finance and technology. In 2020 many businesses use tech to enhance or automate financial services and processes. The term is a broad and rapidly growing industry serving both consumers and businesses. From mobile banking and insurance to cryptocurrency and investment apps, fintech has broad applications.

Why FinTech?

The Fintech industry is huge. As of writing, there are 41 VC-backed fintech unicorns worth a combined $154.1B.

A driving factor is that many traditional banks and vanguard institutions are supporters of the tech overhaul, actively investing in, acquiring or partnering with fintech startups- all in the name of moving the industry forward and staying relevant. You can be a part of that change.

INTRODUCING THIS YEAR'S

CHALLENGES

#FinTech

Challenge 1

Hyper Personalisation

The banking industry has gone through massive transformations within the last century. We now have the tools available to develop HP systems that provide personalized recommendations for customers like never before.

Challenge 3

Intelligent Automation

The banking industry and greatly benefitted from AI technology. How can we fully leverage the capabilities of AI to automate various banking tasks?

Challenge 2

Payment Solutions

The requirement of formal IDs creates difficulties for many people around the world, especially individuals in developing nations from engaging in the banking system. How can we use the latest technologies to introduce the banking experience to them?

Challenge 4

Chatbots

Chatbots have emerged as an extremely useful tool in aiding communications in the digital sphere. Let’s explore the idea of bots that acts as financial advisors and personal guides.

Prizes