Capgemini and EFMA announce the winners of the 2021 Financial NewTech Challenge
PARIS–(COMMERCIAL THREAD) –Capgemini and Efma announce the winners of the Financial NewTech Challenge 2021. The competition, which recognizes and rewards the most innovative financial NewTechs as well as the best collaborations between NewTechs and financial institutions, ended with a online ceremony held on September 28.
The challenge is fueled by FinTechVisor, a global platform developed by EFMA and Capgemini, which allows FinTechs, InsurTechs, RegTechs and Financial NewTechs to present their B2B solutions, as well as providing them with an interactive networking tool to foster new partnerships with financial institutions.
“Since its launch in May 2018, the FinTechVisor portal has grown into a strong and dynamic community of the most innovative FinTechs in the world. said John Berry, CEO of Efma. “The submissions for the 2021 edition have demonstrated a clear focus on sustainability and show a shift in priorities in the industry. These companies are the future of financial services and we look forward to continuing to cultivate a platform where FinTechs can show the strength of their propositions and benchmark them against their peers.
“At Capgemini, we are convinced that the future of financial services rests on an effective collaboration between traditional companies and startups: the need for digital agility of traditional companies and the need for scale of startups require mutually beneficial partnerships,Said Elias Ghanem, Global Head of Market Intelligence for Capgemini Financial Services. “As the orchestrator of the StartUp ecosystem, strongly supporting the continued innovation needs of our clients, we are proud to unveil the winners of the Financial NewTech Challenge 2021.
After 306 submissions – a 47% increase from 2020 – from nearly 150 financial institutions around the world, 1,700 votes were cast to determine this year’s impressive winners. A start-up2 and a ScaleUp3 was selected in each of the four categories: Banking, Payments, Wealth Management and Insurance, as well as a final category recognizing the best NewTech financial collaboration. The winners were announced at the online event to an audience of key decision makers, senior executives and major industry players within the industry. They are as follows:
- Unbanked (US) – Banking startup. A global blockchain-based solution that puts people in control of their money by expanding the utility of cryptocurrency for everyday investing and shopping like never before.
- Credolab (Singapore) – Banking scale. An alternative credit scoring model that harnesses previously untapped behavioral data to make credit available to worthy but sometimes overlooked people.
- Invoice2RTP – charlieIndia (Hungary) – Start of payments. The solution enables bank customers to generate a payment request from billing data, manage RTPs in one place, and automate the reconciliation of billing and payment data.
- Optiopay (Germany) – ScaleUp Payments. A unique solution that uses bank account data and its applicability to each industry to provide end customers with personalized, value-added products and services in exchange for their data to save time and money.
- AlgoDynamix (United Kingdom) – Start of wealth. Developed over many years of research at the University of Cambridge, AlgoDynamix analyzes combine advanced mathematics and real-time order book data to produce directional information on market movements.
- Grape (Germany) – Scaling of wealth. The leading cross-border online savings market in Europe and the only platform of its kind present in the EEA and the United Kingdom, Raisin breaks down barriers to better save and invest.
- StoneStep AG (Switzerland) – Start-up insurance. An emerging market integrated microinsurance product that delivers ‘microinsurance as a service’ to global partners, enabling mobile network operators and retailers to easily diversify their services and generate additional revenue.
- Dacadoo Wheel of Life (Switzerland) – Scaling up insurance. An offering that offers an engaging experience in which users can measure and quantify their physical and mental health in seven different areas. The Health Score is a scientific, tangible solution to measuring holistic health, based on over 300 million person-years of clinical studies.
- Kasikornbank (Thailand) + LINE Corp. (Japan) – Collaboration. LINE BK is the first real social banking experience in Thailand. LINE BK is the only bank that integrates seamlessly with the LINE platform. It allows Thai consumers to access all of their financial services in a highly contextual way.
The winners were selected by a jury of experts (75% weighting of votes) and an online vote accessible to both financial institutions and NewTechs (25% weighting of votes), according to four criteria: business, originality, impact and wow factor.
At the same event, EFMA and Capgemini published the “Efma-Capgemini Financial NewTech Watchlist 2021, “ which brings together the top 100 startups and scale-ups that deserve to be watched closely as they help reshape the landscape of the financial services industry in the years to come.
Capgemini is a global leader in partnering with businesses to transform and manage their businesses by harnessing the power of technology. The Group is guided on a daily basis by its desire to free up human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization with 290,000 team members in nearly 50 countries. Building on its strong 50-year heritage and deep industry expertise, Capgemini has the confidence of its clients to meet all of their business needs, from strategy to design to operations, powered by the world. rapidly evolving and innovative cloud, data, AI and connectivity. , software, digital engineering and platforms. The Group achieved worldwide sales of 16 billion euros in 2020.
Get the Future You Want | www.capgemini.com.
A world non-profit organization, created in 1971 by banks and insurance companies, the EFMA facilitates the networking of decision-makers. It provides quality information to help banks and insurance companies make the right decisions to drive innovation and drive transformation. More than 1,300 brands in more than 130 countries are members of EFMA.
Headquarters in Paris. Offices in London, Brussels, Andorra, Barcelona, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing, Tokyo and Singapore. Learn more about www.efma.com
1 Financial NewTechs are StartUps or ScaleUps that provide B2B solutions to financial institutions.
2 A StartUp is a company that has raised less than 5M EUR / GBP / USD, with a turnover of less than 500k € during the last financial year and which has a live B2B solution already sold and deployed for at least two institutions. financial.
3 A ScaleUp is a company that has raised over 5M EUR / GBP / USD, a turnover of over 500k € in the last fiscal year, has a full time management team and sustainable commercial traction .