FinTech Abu Dhabi's 2018 edition of the Innovation Challenge will focus on real life fintechcase studies from major UAE institutions, including government entities and regulators.
Abu Dhabi Global Market and KPMG have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge to kick-off on September 17th.
In conjunction with the annual FinTech Abu Dhabi Summit, the challenge’s final demo day will be held on the sidelines of the event where the best selected applications will be paired with Corporate Champions and will work together to develop ready-for-adoption solutions.
"We look forward to working closely with respective governments and private sector entities to help co-develop innovative solutions as part of the Innovation Challenge," says Vikas Papriwal, Head of Advisory for KPMG.
On the one hand, Fintech Abu Dhabi looks to help FinTech startups grow to the next stage, and on the other hand train corporate clients on one of the latest innovation technologies. The way in which this is going to happen is that institutions based in the United Arab Emirates will collaborate with Abu Dhabi Global Markets to identify a specific business problem that can be resolved through the use of FinTech.
"FinTech has immense potential to transform the financial services sector in the region,” says Umair Hameed, partner at the financial services of KPMG. “We are absolutely thrilled to team up with ADGM on the latest edition of the Innovation Challenge, which will showcase real cases of how FinTech addresses specific business needs."
Both partners Abu Dhabi Global Markets and KPMG will later release a global call to action, inviting local and global fintech entrepreneurs to apply for the opportunity to work with designated corporate clients. The selected Corporate Champions will be given the opportunity to tap into KPMG’s expertise in managing the innovation process and will benefit from a purpose-built prototype solution to a business issue that will improve commercial outcomes.
The fruit of this collaboration will be presented before an audience representing international financial institutions, regulators, professional services firms, and startups gathered at the summit. Aside from the chance to pitch before potential clients in the wider financial industry at the demo day, successful applicants will also gain direct access to leading UAE institutions.
Main Image: FinTech Abu Dhabi.
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