Fintech Galaxy, a UAE-based fintech marketplace and innovation platform, with the support of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has unveiled Yalla Fintech 2020 Hackathon, a virtual hackathon for financial inclusion and regulatory collaboration in the Arab region.
Powered by Fintech Galaxy’s crowdsourcing and open API platform FinX22, the hackathon aims at developing digital solutions for speeding up the financial inclusion of local communities and businesses in the region.
The latest wave of technology in finance such as Artificial Intelligence, Big Data, cloud services and distributed ledgers – is affecting economies at an unprecedented pace. The Digital Transformation in finance can stimulate competition and product variety for the benefit of communities and businesses in the region. This requires adequately designed applications, products, and services.
Mirna Sleiman, Founder and CEO, Fintech Galaxy, said: “We are very excited to power this collaborative, forward-thinking initiative that aims to address the most prominent challenges in the industry. We are home grown with a track record and a global fintech network that enables us to bring together fintech start-ups, progressive banks and ecosystem partners from the Arab markets. In doing so, we harness a common goal: embracing fintech innovations for better livelihoods, new business opportunities and growth in the Arab region.”
The Yalla Fintech 2020 Hackathon will be held virtually on Fintech Galaxy’s digital crowdsourcing and API platform, FinX22. The digital platform enables the screening, interaction and collaboration among innovators, financial institutions, and regulators, allowing them to crowdsource and prototype fintech solutions prospectively in Fintech Galaxy’s API Sandbox. This year, the event will promote partnerships and collaboration between innovative tech start-ups and firms, progressive banks and regulators across the region.
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