Capgemini and Efma announced on Friday they have launched the Financial NewTech Challenge 2020, powered by FinTechVisor. According to the due, the Financial NewTech Challenge 2020 offers an opportunity for NewTechs and financial institutions to showcase their collaborative business solutions to a panel of experts and industry influence.
“The Efma-Capgemini Financial NewTech Challenge 2020will recognize and reward the most innovative financial NewTechs alongside the most inspiring collaborative projects between NewTechs and financial institutions.”
NewTechs are invited to submit entries on their innovative solutions in the following three categories:
- Retail Banking
- Payments
- Wealth Management
While sharing more details about the Challenge, Elias Ghanem, Global Head of Market Intelligence for Capgemini’s Financial Services, stated:
“Building on last year’s successful Race to the Top challenge, in 2020 we want to recognize the best Financial NewTechs and their collaborations with financial institutions. Financial NewTechs operate in that B2B sweet spot which has been a focus for Capgemini for the past few years, and this challenge aims to highlight NewTech innovation through collaboration at scale with financial institutions. At Capgemini, we strongly believe that the future of financial services relies on this effective combination to offer the best customer experience.”
The competition will run from January 17th until April 22nd, with March 2nd being the deadline for submissions. A shortlist of 10 StartUps and 10 ScaleUps applicants in each of the three NewTech categories plus the 10 collaborative financial institution and NewTech applicants will be selected by a committee from Efma and Capgemini, and announced on FinTechVisor on March 16th.