Abu Dhabi/Singapore: Abu Dhabi Global Market, ADGM, and KPMG Lower Gulf Limited, KPMG LG, have announced the launch of the second edition of the FinTech Abu Dhabi Innovation Challenge.
The inaugural Innovation Challenge, organised last year, generated strong interest among regional financial institutions about the potential benefits of collaborating with FinTech start-ups. As a result, this year’s challenge will primarily focus on generating real case studies in the adoption of FinTech solutions by major UAE institutions, including government entities and regulators. The final demonstration day will be held, in conjunction with the annual FinTech Abu Dhabi Summit, FinTech AD, taking place on September 17, 2018.
Simultaneously, KPMG LG will extend the operations of its Digital Village to the region and will operate from ADGM’s Innovation Centre. The platform intends to help start-ups as they look to grow to the next stage, and equip corporate clients with one of the latest innovation technologies.
UAE-based institutions will begin by collaborating with ADGM to identify a specific business problem that can be resolved through the use of financial technology. Both ADGM and KPMG LG will then issue a global call to action, inviting local and global FinTech entrepreneurs to apply for the opportunity to work with designated “Corporate Champions.”
The best selected applications will be paired with Corporate Champions and will work together to develop ready-for-adoption solutions. The product of this collaboration will be presented to an audience of international financial institutions, regulators, professional services firms and start-ups at FinTech AD 2018 on September 17.
