Two African Fintech Start-up Selected for 2018 FinTech Hive

The financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, FinTech Hive has announced the commencement of its 2018 accelerator programme in partnership with Accenture.

The accelerator programme consists of a 12-week curriculum in which a group of selected finalists will work closely with financial institutions and other stakeholders to create innovative solutions aim to address the evolving needs of the region’s financial services industry.

2018 edition received 300 applications around the world, of which 22 finalists were selected.

The 2018 edition of FinTech Hive will feature a large number of start-ups, which doubled to 22 this year, along with a broader scope that covers FinTech, InsurTech, RegTech and Islamic FinTech.

Out of the 300 applications received, 50% were for FinTech solutions, while the remaining 50% were divided amongst InsurTech (20%), Islamic FinTech (15%) and RegTech (15%).

Raja Al Mazrouei, Executive Vice President of FinTech Hive maintained that “The extraordinary quality and overwhelming quantity of proposals we received this year is a testament to the growing interest in FinTech Hive and the industry’s trust in its collaborative platform.”

“As the region’s FinTech industry continues to provide unique solutions that address the evolving needs, we are committed to providing the FinTech space with invaluable access to, and feedback from, an international network of strategic partners and well-established financial institutions looking for innovative solutions to their everyday challenges,” Raja said.

In the first phase of the 12-week programme, the finalists will present to the executives from FinTech Hive’s partners, introducing their technology offerings, obtaining preliminary feedback and eventually discussing potential mentorship opportunities.

The finalists selected for the accelerator programme are; bankbuddy.ai (India), Game Change Solutions (United Arab Emirates), Amplified Payment System Ltd (Nigeria), Verify Payments (Bahrain), PaySky (Egypt), Jaib (Jordan), Spare (Kuwait), iWealth (United Arab Emirates), and Limitless (United Kingdom).

Also on the list are; Verismart (USA), Money Mall (United Arab Emirates), ebooc (United Arab Emirates), bondsmart (United Kingdom), Jibrel (Switzerland), Haseed (Saudi Arabia), Blinking.id (Serbia), Amani Technologies Ltd (United Arab Emirates), Addenda (United Arab Emirates), BetterTradeOff FinTech Solutions Ltd (United Arab Emirates), InsureVite(Singapore), Turnkey IS Technologies LTD (United Arab Emirates), as well as Virtual I Technologies LLC (United Arab Emirates).