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Reserve Bank calls for fintech entries to Hackcelerator

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The South African Reserve Bank (SARB) is calling on fintech firms to submit innovative and sustainable solutions to challenges identified within the financial services industry, for the 2019 Global Fintech Hackcelerator @ Southern Africa.

The Hackcelerator, backed by KPMG Matchi, is a fintech acceleration programme that creates a platform for solutions to complex financial challenges in the Southern African region. Fintech firms from anywhere in the world can apply to participate in the programme, to address problem statements constructed by the SARB. 

The SARB views such global fintech acceleration programmes as enabling processes to embrace fintech, while affording the opportunity for regulators to appraise benefits and risks in a balanced manner.

Shortlisted respondents will be invited to showcase their solutions at the Southern African Demo Day on 29 October 2019 in Johannesburg. On the Demo Day, a panel of judges from the SARB and the Financial Sector Conduct Authority, as well as local industry experts, will select and announce two winning solutions.

Each Global Fintech Hackcelerator @ Southern Africa 2019 winner will:

  • Receive a stipend towards travel expenses to attend the 2019 Singapore Fintech Festival
  • Get an opportunity to pitch their solution live during the Hackcelerator Demo Day at the 2019 Singapore Fintech Festival and engage with industry experts;
  • Receive funding to develop a contextualised proof of concept, to be deployed within a year from the Demo Day; and
  • Work with high-value corporates to contextualise a solution to their needs, while obtaining market entry into the Singapore and Asia-Pacific region.

The top three winners at the Singapore Fintech Festival will also receive a cash prize.

Applications for the Global Fintech Hackcelerator @ Southern Africa close at midnight on 8 September 2019. View the problem statements and complete an application form at https://matchi.biz/hackceleratorSA.

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