Karandaaz Pakistan, in partnership with IBA AMAN Centre for Entrepreneurial Development (CED) announces the FinTech Disrupt Challenge 2017. The purpose of FDC 2017 is to invite the most innovative ideas from all over Pakistan working in the financial technology space in an attempt to win as much as $100,000 in funding.
In FDC 2017, grants will be given to the start-ups having high growth potential and innovative financial technology solution.
Ideas that focus on greater access to financial services to women are encouraged.
The objectives of this FDC 2017 are as follows:
– Support innovation in the FinTech space to enable greater financial inclusion.
– To identify and support best and innovative practices in terms of digital payment solutions.
– Provide success stories and examples of new payment mechanisms.
The focus of the Challenge is to support organizations working in the FinTech space in developing innovative financial solutions using technology to promote greater financial inclusion in Pakistan. Broad focus areas include for two types of grants:
Thematic areas for returnable grant of up to $100,000:
1) Access to Financial services
• Credit Scoring Models
• Formalize savings through need based products
• Digital lending services
• Retail payments solutions through QR code
• Supply / Value Chain Digitization
• Ideas around digitization of online payments and merchant payments
• Smoothening of on-boarding process for a retail merchant
• Enabling Escrow Accounts
• Alternate payment modes other than COD
• Innovative ideas to address the lack of interoperability among m-wallets
Thematic area for returnable grant of up to $20,000:
5) Early stage ideas related to:
• M-Wallet Use cases
• Education of Financial Services through technology
• Customer Engagement / Experience
• Micro Credit
• Digital Savings
The final challenge will take place on 20th May, 2017 at Ghani and Tayyab Auditorium, IBA Karachi.
The deadline to submit applications for the challenge is 9th May, 2017.