{"id":13528,"date":"2020-10-10T13:44:19","date_gmt":"2020-10-10T09:44:19","guid":{"rendered":"https:\/\/techxmedia.com\/?p=13528"},"modified":"2025-04-18T00:37:02","modified_gmt":"2025-04-17T20:37:02","slug":"fintech-galaxy-and-giz-launch-yalla-fintech-2020-hackathon","status":"publish","type":"post","link":"https:\/\/techxmedia.com\/en\/fintech-galaxy-and-giz-launch-yalla-fintech-2020-hackathon\/","title":{"rendered":"Fintech Galaxy and GIZ launch Yalla Fintech 2020 Hackathon"},"content":{"rendered":"\n

Fintech Galaxy, the UAE-based fintech marketplace and innovation platform, with the support of the Deutsche Gesellschaft\u00a0f\u00fcr\u00a0Internationale\u00a0Zusammenarbeit (GIZ) announces the launch of the virtual hackathon for financial inclusion and regulatory collaboration in the Arab region, the Yalla Fintech 2020 Hackathon<\/strong>.<\/p>\n\n\n\n

Powered by Fintech Galaxy\u2019s crowdsourcing and open API platform FinX22, the hackathon\u00a0aims at developing digital solutions\u00a0for speeding up the financial inclusion\u00a0of local communities and businesses in the region. It will bring to life partnerships that address the urgent needs of communities in times of Covid-19 and \u2013 beyond that \u2013\u00a0propel business development and employment sustainably.<\/p>\n\n\n\n

The latest wave of technology in finance (fintech) \u2013 such as Artificial intelligence, big data, cloud services<\/a> and distributed ledgers \u2013 is affecting economies at an unprecedented pace. The digital transformation<\/a> in finance can stimulate competition and product variety for the benefit of communities and businesses\u00a0in the region. This requires adequately designed applications, products, and services.<\/p>\n\n\n\n

Yalla Fintech 2020 \u2013 the Arab Virtual Hackathon for Financial Inclusion \u2013 empowers innovators, regulators, and other ecosystem partners from the Arab region to remotely collaborate and crowdsource solutions for key issues in financial inclusion in the digital space.<\/p>\n\n\n\n

Innovative startups and tech firms from the Arab region can now submit their Fintech proposals addressing an issue in three distinct categories on Fintech Galaxy platform<\/a>:\u00a0\u00a0<\/p>\n\n\n\n

  1. Digital Lending<\/a><\/li>
  2. Digital Financial Awareness<\/a><\/li>
  3. Electronic Know-Your-Customer for Simplified Customer On-boarding (Challenge)<\/a><\/li><\/ol>\n\n\n\n

    Following the application deadline on November 19th<\/sup>, 2020, proposals meeting the requirements will be shortlisted and innovators invited to pitch their solutions to a panel of experts. Winning proposals in each category will be awarded a prize of EUR 5,000 to kickstart the scaling of the solution.<\/p>\n\n\n\n

    The pandemic has shown that digital finance\u00a0is critical in mitigating the economic impact of COVID-19\u00a0and maintaining social cohesion.\u00a0Digital financial systems can help to strengthen the resilience of markets, communities, businesses, and governments against future shocks.<\/p>\n\n\n\n

    GIZ<\/strong>\u00a0is supporting the implementation of\u00a0the Yalla Fintech 2020 Hackathon,\u00a0on behalf of the German Federal Ministry BMZ,\u00a0as contribution to the Financial Inclusion for the Arab Region together with its partners.\u00a0The Hackathon helps\u00a0bring innovation to life by\u00a0fostering cross-border collobration\u00a0between emerging and established entities.\u00a0It will catalyze\u00a0efforts in solving\u00a0real problems of local communities and businesses in their sustainable development. Collaborative innovation\u00a0is vital for constructive and transformative digital technology\u00a0to add value for societies, markets\u00a0and economies.<\/p>\n\n\n\n

    Speaking about the launch of Yalla Fintech 2020, Mirna Sleiman, Founder & CEO, Fintech Galaxy<\/strong>, said: \u201cWe 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 startups, 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.\u201d<\/p>\n\n\n\n

    The Yalla Fintech 2020 Hackathon will be virtually hosted on Fintech Galaxy\u2019s 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\u00a0prospectively in Fintech Galaxy\u2019s API Sandbox. It will promote partnerships and collaboration between innovative tech start-ups and firms, progressive banks, and regulators\u00a0across the region. This is a novel digital\u00a0setting for collaborative innovation that will allow involved stakeholders to join efforts while being physically\u00a0distant.\u00a0<\/p>\n\n\n\n

    To participate, Fintechs can register on:<\/p>\n\n\n\n

    Yalla Fintech Hackathon<\/strong><\/a>: https:\/\/www.fintech-galaxy.com\/Hackathon\/HackathonDetail?hID=110<\/a><\/p>\n\n\n\n

    Yalla Fintech Challenge<\/strong><\/a>: https:\/\/www.fintech-galaxy.com\/challenge\/challengedetail?cid=7<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Powered by Fintech Galaxy\u2019s 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. It will bring to life partnerships that address the urgent needs of communities in times of Covid-19 and \u2013 beyond that\u2026<\/p>\n","protected":false},"author":8,"featured_media":13529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9639,9621],"tags":[1822,2023,2017,4181,4177,4180,4179],"contributor":[],"class_list":["post-13528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech-emerging-technologies","category-emerging-technologies","tag-cloud-services","tag-digital-transformation","tag-fintech-galaxy","tag-finx22","tag-giz","tag-hackathon","tag-yalla-fintech-2020-hackathon"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2020\/10\/Mirna-Sleiman-Founder-CEO-Fintech-Galaxy.jpg","author_info":{"display_name":"News Desk","author_link":"https:\/\/techxmedia.com\/en\/author\/rabab\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/13528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/comments?post=13528"}],"version-history":[{"count":0,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/13528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media\/13529"}],"wp:attachment":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media?parent=13528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/categories?post=13528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/tags?post=13528"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/contributor?post=13528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}