JACKSONVILLE, Fla.–(BUSINESS WIRE)–Global financial technology leader FIS® (NYSE: FIS) today announced the expansion of its annual InnovateIN48 fintech competition to include early-stage fintech startups in the APAC region. Originally an employee-based innovation competition in 2013, FIS expanded the InnovateIN48 program to students in 2021. InnovateIN48-Partner Edition is the first time the company has organized an idea competition for startups in the APAC region.
Open to early-stage APAC fintech startups with market-ready solutions, InnovateIN48-Partner Edition welcomed nearly 200 companies from 11 markets, including India, Singapore and Australia, to develop and present their innovative ideas to FIS leaders within a 48- hour window. Participants had the opportunity to create stand-alone solutions or integrate their ideas with FIS technology to solve industry challenges – all under the 2022 themes of Data Innovation, Digital Assets and AI in Fintech.
Keynote speaker Sopnendu Mohanty, Chief Fintech Officer for the Monetary Authority of Singapore, and other speakers discussed current industry trends in line with these themes, while registrants from 35 countries learned about FIS’s innovation ecosystem, products and APIs.
The event ended with a demo day for presentations.
The InnovateIN48-Partner Edition finalists are:
- EdgeNeural – Provides a modular, fully integrated workflow to easily train, optimize, deploy and manage AI neural networks.
- Finarkein – OpenData OS helps move data from siled datasets to open access and from corporate ownership to end-user ownership. The solution unlocks economic, societal and governance benefits across sectors.
- IntelleWings – Created a screening database that checks all patterns of money laundering, terrorism, smuggling, drug trafficking and fraud from global sources.
- Coinearth – The company’s marketsN platform enables ESG compliance, supply chain finance and operational efficiency through secure data sharing in B2B ecosystems.
- LegitDoc – Provides a solution to help organizations issue tamper-proof digital documents that can be verified quickly from anywhere.
- Ori reserve – An end-to-end provider of conversational, AI-powered chatbots designed to automate the customer experience.
- Payscript – Provides a cryptocurrency payment platform that allows consumers to buy, sell, exchange and spend crypto through an easily accessible and secure wallet.
- Tathya the earth – Develop a platform to provide a near-real-time dataset and supply chain insight using satellite data.
- Yuva Pay – A neobank that promotes financial inclusion at grassroots level.
Winners of the 2022 APAC competition will receive support from event partners and regulators, including a possible entry (subject to eligibility criteria) into the regulatory/innovation sandbox and fintech grant (as applicable) from the IFSCA, which is a unified regulator that regulates financial products and services in the specially created jurisdiction of the IFSC in India. Those selected will also have potential opportunities to further develop their ideas and build a proof-of-concept through FIS initiatives such as FIS Impact Ventures, FIS Fintech Accelerator and FIS Alliance Network.
“InnovateIN48 is in its tenth year at FIS, and we are excited to open the competition to startups in the APAC region, one of the fastest growing economies in the world, says Vishad Gupta, head of the global delivery organization at FIS. “Our goal is to engage early stage innovators who have new ideas with great potential to help shape how the world pays, banks and invests. We are so pleased to have worked with such a strong group of cohorts and congratulate all the finalists on their outstanding presentations.”
Learn more about FIS’ InnovateIN48-Partner Edition as well as InnovateIN48.
About FIS
FIS is a leading supplier of technology solutions for financial institutions and businesses of all sizes and across all industries globally. We enable the movement of trade by unlocking the financial technology that powers the world economy. Our people are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our customers use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. FIS is headquartered in Jacksonville, Florida and is a member of the Fortune 500® and Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
