Smart solutions: Fintech innovation challenge launched for city start-ups
In a bid to make the Port City the fintech hub for the country and the world, Andhra Pradesh’s Fintech Valley Vizag launched the first Fintech innovation challenge for India’s leading broking firm, Angel Broking.
VISAKHAPATNAM : In a bid to make the Port City the fintech hub for the country and the world, Andhra Pradesh’s Fintech Valley Vizag launched the first Fintech innovation challenge for India’s leading broking firm, Angel Broking.
As financial services companies are adapting to the transition of India to a digital economy - since the introduction of debit cards, ATMs and e-commerce - they are simultaneously seeking partners to collaborate for financial technology. This challenge is an opportunity for start-ups and individuals to develop a solution to enable real time social profiling of customers in the era of big data.
Special chief secretary and IT advisor to the Chief Minister, government of Andhra Pradesh, J A Chowdary said, “India is witnessing a surge of early stage start-ups in the fintech space and it’s essential that we forge partnerships with them in the gestation period of their ideas. Going forward the Fintech Valley Vizag intends to create a co-working space for fintech start-ups in the Fintech Tower and this challenge is a stepping stone for that.”
On the challenge, Angel Broking chief marketing officer Gagan Singla said,“Throughout our three decades of experience, we have been constantly reinventing our digital and technology platforms to stay ahead of the curve. With a perfect blend of investment advisory expertise and technology prowess, today we are a new age Digital Investing Company. ‘Real-time Social Profiling’ - Fintech Challenge is another step to take the customer experience the next level by giving smarter and more personalised technology-based solutions.”
All shortlisted fintech firms and individuals will be invited to showcase and demonstrate their solutions to the Indian financial industry leaders at the Fintech Spring Conference, organised by Fintech Valley, to be held on March 9-10 in the city. The winner of the challenge will be awarded `5 lakh. The winner will also receive coaching and mentoring by the corporate partner and free space for six months in the Fintech Tower.