Five fintech startups make the grade in Innotribe’s Singapore challenge
By Digital News Asia June 1, 2015
- To compete in the Startup Challenge Finale at Sibos in Singapore
- goSwiff interested to integrate other startup ideas into its m-commerce platform
FIVE finalists from the Asian leg of the Innotribe Startup Challenge have been selected to compete at Sibos Singapore in October, after a showcase on May 28 hosted by Innotribe organiser SWIFT, in partnership with Next Bank Asia.
SWIFT (the Society for Worldwide Interbank Financial Telecommunication) supplies secure messaging services and interface software to wholesale financial organisations. It launched Innotribe in 2009 to connect people, networks and ideas.
Sibos is SWIFT’s annual financial technology event.
The three early-stage startup finalists are:
- Trustingsocial, which is developing consumer credit ratings for emerging markets by applying big data and deep learning technologies to social, mobile and web data.
- Jewel Paymentech, a Singaporean company providing an automated risk management platform for banks and payment facilitators to manage e-commerce merchant risk through predictive analytics.
- Bitspark, a crypto-financial services provider for the Asia Pacific region, which developed what it claims is the world’s first blockchain-powered end to end remittance service.
The two growth-stage startups finalists are:
- Codapay, an online payment gateway that allows merchants to accept payments from the 97% of adults in South-East Asia that do not have a credit card by giving customers a range of alternative payment options.
- goSwiff, which offers mobile payments for banks and mobile operators to help merchants in emerging markets get paid by accepting card payments, and to increase the quality and quantity of transactions.
“With a thriving ecosystem supporting innovation and startups, Singapore contributes to leading Asia in developing the fintech sector as a major engine of growth,” said Fabian Vandenreydt, head of Markets Management, Innotribe and the SWIFT Institute at SWIFT.
In a separate statement, goSwiff chief executive officer Simone Ranucci Brandimarte said that “winning Innotribe in Singapore is important to us; being a Singaporean company and with South-East Asia as our home market, we are proud to be recognised by the jury and the participants as a frontrunner on financial technology innovation in the region.
“Innotribe is a great platform for us to meet with banks and card schemes. We have also seen a lot of new ideas from startups that we can potentially integrate with our mobile commerce platform in the future,” she added.
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