Data science and analytics have transformed and disrupted the financial services landscape, improving the decision-making process whilst opening up new opportunities for banks. Availability of real time data has a significant impact on risk management enabling better customer assessment and faster decisions, but it can also provide immense value in customizing services and facilities that target unbanked customers empowering this way financial inclusion.
Within this framework, MINT by EGBANK is calling out to entrepreneurs and startups who can think outside the box, to unlock disruptive powers of technology to help the unbanked customer get access to lending, in a cross-industry use-case, using smart digital tools, real time data and new access channels in Egypt.
- Unbanked customers in egypt account for 67% of the population
- Unbanked still need financing instruments to run their businesses or to purchase consumer goods for example
A working prototype that can be developed of Financial solution
Regulatory rules need to be met in case we can bring the product to the market together.
EGBANK:
- 1st Winner: 5,000 USD
- Winning teams: A fast track to the pitch day of the incubation screening
Fintech Galaxy:
1 year free Stars membership on FinX22
Oracle:
Access to Oracle’s Unique Accelerator Program “Oracle for Startups” connecting promising startups with cloud resources and enterprise expertise: Free credits for Oracle Cloud, plus access to additional credits and other exclusive benefits
Participants
56
Team size
2-5
Registration Start Date
Jul 16, 2020
Registration End Date
Aug 20, 2020
Shortlisting Date
Aug 27, 2020
Hackathon Start Date
Aug 31, 2020
Hackathon End Date
Sep 06, 2020
MINT by EGBANK empowers youth through its different offerings, both Banking and Beyond Banking. In terms of financial inclusion, it creates products that are tailored to suit youth needs, and more importantly it provides the service of “Personal Bankers”. Personal Bankers act like financial advisors for all MINT customers, and their role is to educate the youth about the world of banking, banking products, and financial management, while assisting them in making better financial decisions. MINT also provides subsidized workshops and courses depending on youth needs and current trends, all aimed at youth development, while also creating financial literacy programs for high school and university students. Additionally, MINT supports youth entrepreneurs through its incubator, providing technical support for startups. Technical support includes training sessions, access to a network of mentors, partners and investors in addition to long term support extending beyond the incubation period. In addition, MINT introduced a startup account that suits their business needs.
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