International Financial Services Centres Authority (IFSCA), in its endeavour to support a World Class FinTech Hub at GIFT IFSC, had launched I-Sprint’21, the global FinTech Hackathon as part of InFinity Forum 2021 (https://www.infinityforum.in/). InFinity Forum is IFSCA’s flagship financial technology event, uniting the world’s leading minds in policy, business and technology to explore and advance the biggest ideas in FinTech and to develop those ideas into global solutions and opportunities.
“Sprint01: BankTech under the banner of I-Sprint’21 was launched with the focus on Banking Sector and was hosted by IFSCA and GIFT City in collaboration with NITI Aayog. The Partners to the Hackathon were ICICI Bank, HSBC Bank, International Centre for Entrepreneurship and Technology (iCreate), Zone Startups and Invest-India. The Hackathon was open to all eligible FinTechs from across the globe and was one of its kind being backed by a Financial Sector Regulator.
After multiple rounds of assessment, the following 3 entities have emerged as Winners:
|
S. No. |
Winner |
Problem Statement/Category |
|
|
Signzy Technologies Private Limited |
Unified KYC Solution |
|
|
SBNRI Technologies Private Limited |
Retail Banking Products at IFSC |
|
|
EdgeVerve Systems Limited |
Buyers Credit Optimization |
A prize money of Rs. 24 lacs have been announced for the winners of Sprint01: BankTech by iCreate. As recommended by the Jury members, Signzy Technologies Private Limited, SBNRI Technologies Private Limited and Edge Verve Systems Limited have won Rs. 4 lacs, Rs. 16 lacs and Rs. 4 lacs as price-money respectively.
The winners of the Hackathon will be allowed direct entry into the applicable IFSCA Regulatory/Innovation Sandbox. They will receive Regulatory guidance and handholding. After successful exit from the respective Sandbox, they shall get an opportunity to set up businesses at GIFT IFSC.
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