FIS’ InnovateIN48 competition expands to APAC 05 December 2022US Reporter: Lucy Carter
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Financial services provider FIS has expanded its annual InnovateIN48 fintech competition into the APAC region with a ‘Partner Edition’ of the initiative.
The competition began as an employee-exclusive opportunity in 2013, before being opened up to students in 2021. With the latest expansion, close to 200 early-stage APAC fintech startups pitched their market-ready solutions to FIS leaders within a 48-hour window.
All based around 2022’s theme of data innovation, digital assets and AI in fintech, entrants were asked to create solutions to solve industry challenges. Solutions could either be standalone, or integrate into existing FIS technology.
Winning teams will receive support from competition partners and regulators, and may be able to further develop their projects through FIS initiatives. Subject to eligibility criteria, they may also have the chance to be entered into IFSCA’s regulatory or innovation sandbox and fintech grants, subject to eligibility criteria.
This year’s InnovateIN48 Partner Edition finalists are EdgeNeural, Finarkein, IntelleWings, Koinearth, LegitDoc, Oriserve, Payscript, Tathya Earth and Yuva Pay.
Commenting on the competition, Vishad Gupta, head of FIS’ global delivery organisation, says: “We’re thrilled to open the competition to startups in the APAC region, one of the fastest growing economies in the world. Our goal is to engage early innovators who have new ideas with a lot of potential to help shape how the world pays, banks and invests. We’re so pleased to have worked with such a strong group of cohorts and congratulate all the finalists on their outstanding presentations.”
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