The two-day Fintech Spring Conference in the run up to the Global Summit with $1-million award for the best startup, commenced in the city on Thursday, which includes panel discussions related to scope in the field of financial technologies, competition among the startups having best solutions for problems being faced in financial world. About 30 international delegations from Japan, Singapore and Switzerland participated in the event.
In order to have collaboration to develop the Fintech ecosystem, the state government signed a partnership agreement with Lattice80, Pearson, Anthill Ventures, HackerEarth, F6S, Forum Synergies, Hyderabad Angels, Zone Startups, ParadigmIT and Trade Land Finance Tech Consortium (TLF).
To accelerate the evolution of Fintech Valley, the AP government will conduct the flagship Global Fintech Summit on Feb 19 & 20, next year, which will give an opportunity to participate in the $1-million global Fintech award challenge and the Rs 1-crore Indian Fintech award challenge.
Prior to it, the government will host the Blockchain Technology international event.
Addressing the gathering, the CM of Andhra Pradesh had said in a video conference, “The Fintech Valley Spring Conference is our step in joining the Fourth Industrial Revolution which is a spectacular combination of technology and Internet of Things (IoT). In recent times, technology has started influencing our lives in a comprehensive manner. The demand for Fintech is growing each day. To meet this demand, we would need the support from Fintech and Cyber security companies. We also need the academic institutions to adapt curriculum that trains individuals to contribute to Fintech sector.”
Roy Teo, director, Fintech & Innovation Group, Monetary Authority of Singapore (MAS) said they were looking for collaborations rather than competition so as to progress in the Fintech world which will have minimal risk and maximum efficacy.
The conference witnessed over 150 startups competing in four Fintech Challenges, of which 40 per cent participants were from 15 countries.