Meet The 40 Innovative Solutions Shortlisted for 2019 FinTech Awardsby Fintechnews Singapore October 3, 2019
The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced today that 40 finalists have been shortlisted for the FinTech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH).
The finalists were selected by a panel of industry judges from a total of 245 submissions. Many of the submissions from the growing FinTech community came from sectors such as RegTech, wealth management and cybersecurity.
Financial inclusion was also a key area of focus amongst this year’s finalists, with a significant number of submissions geared towards improving banking access for underserved individuals as well as small and medium enterprises.
The finalists will pitch their innovations during SFF x SWITCH, and compete for a total of S$1.2 million in prize money. The winners of the FinTech Awards will be announced at SFF x SWITCH. The 40 finalists of the FinTech Awards will also be invited to a dedicated Deal Friday networking session organised by MAS and PwC Singapore just for them to showcase their innovations to investors.
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said,
“Several of our FinTech Awards finalists from past years have gone on to achieve success in the industry . This year, it is heartening to see a growing number of submissions promoting financial inclusion and sustainability. We are inspired by the innovative ways in which FinTechs are solving business challenges on a global scale. We look forward to seeing the finalists present their solutions to prospective partners and investors, and benefit from this exposure, at SFF x SWITCH and Deal Friday.”
Mrs Ong-Ang Ai Boon, Director, ABS, added,
“ABS is pleased to partner with MAS in the annual Singapore FinTech Festival and sponsorship of the Global Award to recognise and celebrate the achievements of innovative solution providers in the FinTech space. In the digital economy, harnessing the power of technological advancement is key to a vibrant banking industry, enabling banks to create transformative and trusted products and services that benefit their customers.”
40 Finalists of FinTech Awards
|Company Name||Solution Name||Description of Company and Solution|
|4xLabs Pte Ltd||Send4x||4xLabs is a Singapore based FinTech that develops software to solve issues of compliance, efficiency and transparency in the currency exchange and remittance industry.|
Send4x is a price comparison platform connecting money transfer operators with users seeking the best way to send money online.
|Bambu||Semantic Equity Network||Bambu is a Singapore-based robo-advisor technology provider that enables businesses to make saving and investing more straightforward and intelligent for their clients.|
Semantic Equity Network algorithm adopts a convergent theory to create a biological stock market network that identifies different companies that could evolve and begin to
showcase similarities in the future, by using natural language
processing and phylogenetic sequence reconstruction
|Bento||Bento Digital Wealth SAAS||Bento is a Singapore-based B2B2C software-as-a-service digital wealth solutions provider.|
Bento Digital Wealth SAAS is built for consumer platforms and financial institutions to launch digital wealth solutions with low capital expenditure and quick time-to-market.
|Brankas||Brankas OpenBank Platform||Brankas aims to solve the last mile problem for open banking in emerging economies.|
Brankas OpenBank technology empowers banks, FinTech partners and users to build and activate real-time secure Application Programming Interface (APIs) for payments,
identity, transaction data, and more.
|CredoLab Pte Ltd||CredoScore||CredoLab is a Singapore-based FinTech that develops bankgrade digital scorecards for banks, consumer finance companies, auto lenders, online and mobile lenders, insurance companies, and retailers from smartphone device metadata.|
CredoScore algorithm churns all the metadata from smartphone devices into a score that can be applied to businesses to improve the quality of decisions taken
|Data Republic||Senate Data Exchange Platform||Data Republic allows organisations to share data, with information de-identified to protect individual privacy and with commercial risk mitigated.|
Senate Data Exchange Platform provides legal, governance and licensing workflows for companies when sharing data.
|Digicro Pte Ltd||Spean Luy||Digicro provides micro loans, from $50 to $1,000, to the unbanked people in Cambodia through its mobile app, Spean Luy, by applying machine learning to assess their credit risk, based on data from their smartphones.|
|Digital Ventures||B2P (Block chain Solution for Procure-toPay)||Digital Ventures is a subsidiary of Siam Commercial Bank that invests, experiments and develops FinTech innovations and services. B2P is an integrated blockchain platform for Procure-to-Pay. Built on Corda Distributed Ledger Technology, it allows buyer and seller companies to create, exchange, verify and record business transactions. |
It also allows financial institutions to provide supply chain financing and payment services to all companies in the ecosystem.
|Finaxar||FXR One||To provide liquidity to SMEs, Finaxar Credit Lines enables business payments through a single, integrated platform that aligns with businesses’ cash flows.|
FXR One is a lending-as-a-service platform that allows banks to provide unique credit products to SMEs.
|FinKYCK Pte Ltd||KYCK (KYC Kit)||FinKYCK works alongside regulators and government agencies to drive financial inclusion across Indonesia.|
It provides KYC Kits that enable remote onboarding capabilities and enhanced KYC process flow through omnioptical character reading and facial recognition technologies.
|Grab Holdings Inc||GrabZhongAn Insurance|
|Through its open platform strategy, Grab works with partners to provide safe, accessible and affordable transport; food, package, and grocery delivery; mobile payments and financial services in Southeast Asia.|
Grab and ZhongAn Technologies International Group Limited formed a joint venture to create a digital platform to deliver customised insurance products to Grab’s Southeast Asian users.
|Happay (VA Tech Ventures Pvt Ltd)||Happay||Happay is a cloud-based business expenditure management software provider.|
It offers corporate payment cards with built-in spend controls that are linked to its cloud-based expenditure management platform. This allows businesses to fund, budget, track and analyse their company spending in one place and in real-time.
|IBSFINtech India Pvt Ltd||Innovative Treasury ™||IBSFINtech is an enterprise treasury and risk management solution provider.|
Innovative Treasury ™ enables chief financial officers and treasurers to enhance visibility, improve control, mitigate operational risk, drive automation and optimise business
|InfoCorp Technologies Pte Ltd||FarmTrek Project in Myanmar||InfoCorp Technologies is a Singapore-based integrated FinTech and AgriTech company that brings inclusive financial services to the livestock industry in emerging markets via its blockchain-based platform, FarmTrek.|
FarmTrek provides cattle registry, livestock insurance and lending to smallholder cattle farmers in Myanmar
|Kaiko||Kaiko -Digital Assets Market Data||Kaiko is a market data provider in the blockchain-based digital assets space, providing institutional investors and market participants with enterprise-grade data infrastructure.|
Kaiko collects, normalises, stores, and distributes digital asset market data via a livestream WebSocket, REST API, and cloud-based flat-file data feed, to which clients connect to build data-driven applications.
|Kashtec||Kashtec is a Singapore-based FinTech providing B2B emarketplace technology solution to SME ecosystem partners,|
banks and other organisations.
Kashtec’s technology solution enables businesses to create online communities of business buyers and sellers to trade online and settle these trade transactions using their Digital Trade Credit solution.
|Lucep Pte Ltd||Lucep <> Collab 3.0 EMEA MetLife||Specialising in insurance, Lucep is a Singapore-based sales and marketing platform that connects a customer’s digital engagement to personal interaction with the insurance agent.|
Lucep's omni-channel engagement system integrates with a variety of front-end digital channels (e.g. social media ads, landing pages, chat bots, online forms) and enterprise solutions (e.g. CRMs and digital marketing platforms) and offers comprehensive end-to-end lead and performance tracking.
|Mount Wish Corporation||RiskPool||Mount Wish offers automated insurance for FX, interest rate and commodity price risks.|
RiskPool is an Enterprise Resource Planning-integrated and automated (mutual) insurance for FX, interest rate and commodity price risks, based on a cross-customer netting approach.
|MyCash Online (SG)|
|MyCash Online||MyCash Online provides unbanked migrant community in Malaysia, Singapore, and Australia with access to financial products and services through mobile phones.|
It enables unbanked migrant workers to purchase financial products and services online and remit money across countries without any bank account, using their mobile phones.
|NTUC Income Cooperative||Droplet||NTUC Income is an insurance co-operative in Singapore. It was established to make essential insurance accessible to all Singaporeans.|
Droplet uses rainfall and ride hailing data to create an insurance product that covers private ride hailing surge pricing due to rain. It is also designed with a fully automated claims process from submission to payout, through Robotic Process Automation and PayNow integrations
|NXTBK, Inc. provides modern, cloud-based software solutions for the banking and finance industry in Asia.|
Nextbank Credit Scoring automates the assessment process performed by banks and financial institutions and helps them determine the probability of whether an individual is likely to repay an offered loan.
|OakNorth||OakNorth||OakNorth provides SMEs with the debt finance they need to compete against large corporates.|
OakNorth allows financial institutions to significantly improve and accelerate their credit decision and monitoring capabilities. It pulls in a wide range of relevant internal and third-party data sets that enhance credit analysis and creates a forward-looking view on the borrower’s business growth through benchmarking and detailed scenario analysis.
|Onchain Custodian||SAFE Platform||Onchain Custodian (ONC) is a Singapore-based FinTech that offers a global, standardised, resilient and compliant custody service for the safekeeping of institutional digital asset investments.|
SAFE platform offers a multi-signatory cold storage that enables businesses to co-manage their assets or delegate full custody to ONC, based on multi-approved instructions from the client that are securely authenticated on ONC’s platform.
|Optimai Pte Ltd||Optimai PRIME||Optimai aims to make investments simpler, smarter and safer. It also seeks to empower financial institutions to go-tomarket and scale their business quickly through their multiasset, multi-market integrated PRIME platform. |
The platform enables financial institutions to manage their business, risk, operations and compliance for capital markets, wealth management and banking services.
|Oromico||Orovault||Oromico offers a software-as-a-service to consumers and small businesses, empowering them to have a consolidated view of their finances in order to plan for future events or for audit purposes.|
Orovault is an automated solution that allows users to have a consolidated view of their finances and keep track of their expenses, income, assets and liabilities on one single platform.
|Pand.ai Pte Ltd||AI Powered Chat Bot||Pand.ai provides artificial intelligence (AI)-powered chat bots for financial service providers, using transfer-learningbased natural language processing technology.|
Its AI-powered chat bot serves as a virtual assistant to support sales engagement and boost productivity of sales agents.
|R5||R5C3||R5 is a forex marketplace that specialises in the currencies of emerging economies.|
R5C3 platform allows traders to trade with each other and choose how specific trades are routed and settled posttrade
|Razer Pay Holdings Pte|
|Razer Fintech||Razer Pay, a B2C e-wallet, was established as the FinTech arm of Razer Inc, a lifestyle brand for gamers. Razer also provides B2B solutions including online-to-offline payments.|
Razer Fintech is an offline-to-online digital payment network that seeks to provide fast and convenient digital payments to youths, millennials and the underserved consumers. It enables consumers to perform cash-overcounter top-ups directly into their Razer Pay e-wallet.
|Skooly Pte Ltd||Skooly||Skooly is a global collaboration and cashless payments platform that enables schools and families to track and manage education progress, events and messaging in one place.|
|Sparrow Tech Pte Ltd||Sparrow||Sparrow Tech offers financial trading technology software and solutions.|
Sparrow is an options tradition platform that seeks to simplify risk control and monetisation of users’ digital assets. It empowers financial institutions and individuals to trade options that are settled by smart contracts
|Merkle Science||Stackseer Technologies enables banks and blockchain companies to prevent AML risks through its risk monitoring solution.|
Merkle Science provides a risk monitoring solution for government agencies and blockchain companies to detect and prevent illegal use of cryptocurrencies.
|Techbins Solutions Pvt|
|Niki.ai||Techbins Solutions seeks to simplify online payments for the masses.|
Niki.ai is a voice- and vernacular-enabled commerce app that takes care of all household payments including monthly bills, bus or movie tickets, local deals and more.
|Thunes||Thunes||Thunes is a B2B cross-border payments network for emerging markets. Their payment platform processes realtime transactions globally and enables peer-to-peer remittance processing, mass payout, digital payments and business payments.|
|TransferWise||Borderless Account||TransferWise seeks to make international money transfers cheap, fair and simple.|
Its Borderless Account is a multi-currency account that allows users to send, hold and spend money in 49 currencies.
|Union Bank of the|
|Project i2i||Union Bank of the Philippines provides banking and financial services in the Philippines.|
Project i2i is a blockchain-based transaction and payment system that provides the unbanked with immediate and cost-efficient access to a wide array of financial products.
|United Overseas Bank|
|TMRW by UOB||UOB, an Asian bank, believes in being a responsible financial services provider. It is committed to making a difference in the lives of their stakeholders and in the global communities in which they operate.|
TMRW is a mobile-only bank designed for ASEAN millennials who prefer to bank on their mobile phones, anywhere and anytime.
|Value3 Advisory||algoCRED -Capital Markets AIplatform||Value3 is a B2B FinTech offering risk management and robo-advisory software-as-a-service solution that leverages on big data, artificial intelligence (AI) and quant research.|
AlgoCRED is an AI platform that enables capital market investors and risk managers to make better financial decisions through independent and fully automated credit ratings, research, robo-advisory chat bot and smart analytics.
|VoxSmart Pte Ltd||VSmart||VoxSmart provides multi-channel mobile surveillance solutions such as mobile voice calls, SMS, voicemail, WhatsApp and WeChat text messaging recording.|
VSmart helps financial institutions reduce risk and enable global compliance through multi-channel mobile surveillance of financial users.
|Vymo||Vymo||Vymo is a mobile-first customer relationship management solution for sales representatives in the banking, financial services and insurance industry.|
Vymo processes terabytes of engagement data to help sales agents understand what they should be doing on a daily basis to meet their most critical business objectives.
|ZigWay||ZigWay||ZigWay helps low-income families in Myanmar gain direct access to cheap and flexible nano loans ($5 to $200) via their phones. ZigWay provides a fully automated loan process and allows them to make daily repayments that match their daily earnings.|
Register now here: fintechfestival.sg