Angel Broking, a leading broking firm of Mumbai has launched first fintech innovation challenge in association with Andhra Pradesh-based Fintech Valley.

As mentioned on the website, the Fintech Valley in Vizag is a self-sustainable global Fintech Ecosystem that focusses on converging finance and technology to create large avenues of growth through industry-enablers, world-class infrastructure, entrepreneurship and innovation.

What’s The Challenge?

The initiative provides an opportunity to startups to showcase solutions for enabling real time social profiling of customers to identify risk profiles.

The solution can be based on attributes such as demography, income bracket, age, social data (Facebook, Twitter, Instagram, LinkedIn, etc.) and mobile application usage (e.g. presence on financial applications such as Moneycontrol, Yahoo Finance, etc.).

What’s In For Startups

All shortlisted fintech firms and individuals will be invited to showcase and demonstrate their solutions to the Indian financial industry leaders at the Fintech Spring Conference organised by Fintech Valley, to be held on March 9-10, 2017 at Visakhapatnam.

The winner of the challenge will be awarded a cash prize of $7.42 (INR 5 lakh). The winner will also receive coaching and mentoring by the corporate partner and free space for six months in the Fintech Tower.

Gagan Singla, Chief Marketing Officer at Angel Broking said, “Technology is in Angel Broking’s DNA. ‘Real-time Social Profiling’ – Fintech Challenge is another step to take the customer experience to the next level by giving smarter and more personalised technology based solutions. We are honoured to launch the challenge in collaboration with the Andhra Pradesh Fintech Valley. We are excited to meet the creative and innovative minds.”

Special Chief Secretary & IT Advisor to the Chief Minister, Government of Andhra Pradesh, J A Chawdary further added, “India is witnessing a surge of early stage start-ups in the Fintech space and it’s essential that we forge partnerships with them in the gestation period of their ideas.”

The last date to apply for the challenge is February 17, 2017. The interested startups can register here.

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