Vizag’s Fintech Valley instigates Fintech Startup Challenge

As the city is becoming increasingly smarter, the city’s efforts create a fintech hub for the world as well as the country are increasing too. Andhra Pradesh’s Fintech Valley Vizag has launched the first Fintech innovation challenge for India’s leading broking firm, Angel Broking. As financial services companies are adapting to the transition of India to a digital economy – since the introduction of debit cards, ATMs and e-commerce – they are simultaneously seeking partners to collaborate for financial technology. This challenge is an opportunity for start-ups and individuals to develop a solution to enables real time social profiling of customers in the era of big data.
The financial firm, Angel Broking, with their problem statement ‘Real Time Social Profiling of Customers’,is looking for a solution that would enable real time social profiling of new and existing customers, on the basis of 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.).

Mr Gagan Singla, while addressing the gathering stated that“Technology is in Angel Broking’s DNA. Throughout our three decades of experience, we have been constantly reinventing our digital and technology platforms to stay ahead of the curve. With a perfect blend of Investment Advisory expertise and technology prowess, today we are a truly new age Digital Investing Company. ‘Real-time Social Profiling’ – Fintech Challenge is another step to take the customer experience to the next level by giving smarter and more personalized technology based solutions. We are honored to launch the challenge in collaboration with the Andhra Pradesh Fintech Valley. We are excited to meet the creative and innovative minds.”

The shortlisted firms and individuals would be invited to the Indian financial industry leaders at the Fintech Spring Conference organized by Fintech Valley, to be held on March 9-10, 2017, to showcase their demonstrations and solutions.
J A Chawdary, Special Chief Secretary & IT Advisor to the Chief Minister, Government of Andhra Pradesh,said “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. Going forward Fintech Valley Vizag intends to create a co-working space for fintech start-ups in the Fintech Tower and this challenge is a stepping stone for that.”
The winner of the challenge will be awarded a cash prize of 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.