TechInAfrica – A South African fintech acceleration program has open their latest entry for 2019, and the South African Reserve Bank (SARB) is calling on fintech companies from across to globe to apply for the this year’s Global Fintech Hackcelerator @ Southern Africa competition.
The program is a platform intended for the firms to display their innovative solutions on solving intricate challenges on finance, and it is backed by KPMG Matchi, a fintech (bank matchmaking) platform.
Any fintech firms from all around the world are eligible to apply for the competition and participate in the program, SARB explained.
According to SARB, the shortlisted participants are invited to showcase their solutions at the Southern African Demo Day on 29 October in Johannesburg, in which the Demo Day will seek to explore sustainable financial services innovations that should address real-world financial services challenges.
SARB also viewed the global fintech acceleration program as a pathway to empower a series of advancement that would allow participants to embrace the idea of fintech as a whole, whereas swinging in the opportunity for regulators to assess the benefits and risks into a proportional balance.
A panel of judges from the SARB, the Financial Sector Conduct Authority, and the local industry experts will selectively grade and announce the 2 winners with the best solutions, on Demo Day.
Each winner of the Global Fintech Hackcelerator @ Southern Africa 2019 will be granted the following accolades and opportunities:
- Receive a stipend towards travel expenses to attend the 2019 Singapore Fintech Festival.
- Get an opportunity to pitch their solution live during the Hackcelerator Demo Day at the 2019 Singapore Fintech Festival and engage with industry experts.
- Receive funding to develop a contextualized proof of concept, to be deployed within a year from Demo Day.
- Work with high-value corporates to contextualize a solution to their needs, while obtaining market entry into the Singapore and Asia-Pacific region.
The top 3 winners will receive a cash prize each, at the Singapore Fintech Festival.
The application is set to close at midnight on 8 September. For interested applicants, you may view the problem statements and fill in the application form, which is available here.