P2P Cash Technology won the title of "Top Startup" with innovation in financial transactions. P2P Cash Technology has developed a highly scalable mobile financial services solution that brings secure, low-cost banking functions to the unbanked consumer via the mobile phone and proprietary cash management system.

Gust won the title of "Top Innovator" with innovation in the sourcing and managing seed and early-stage equity investments. Its infrastructure enables qualified entrepreneurs to arrange equity financing from accredited investors.

As "Top Startup" and "Top Innovator" for the Americas Showcase, P2P Cash Technology and Gust will now advance to the Innotribe Startup Challenge finals to be held at Sibos - SWIFT's annual conference - in Osaka in October of 2012.

Kosta Peric, Head of Innovation, SWIFT said: "The New York Innotribe Startup Challenge was an unparalleled opportunity to see the future in financial services. The financial institutions, investors and press who were present got a rich portfolio of proposals, going from social lending to P2P payments to secure authentication technologies. We look forward to welcoming the Americas Showcase winners at the Innotribe Startup Challenge finals at Sibos."

Peric added: "I was impressed by the turnout of financial industry and venture capitalist representatives at the event. We had a full house and this demonstrates the value that Innotribe and our startup challenges bring to the table."

The New York Startup Challenge was the first of three regional challenges to be held in 2012 and was sponsored by Sberbank, Invest Northern Ireland, Cisco and Guidewire Group.

Up next is the Startup Challenge Showcase in Singapore in April 2012, followed by Belfast in June 2012.