Innotribe, Swift's initiative for enabling collaborative innovation in financial services, is launching the Social Finance Innovation Platform at Sibos, the world premier financial event facilitated by Swift, in collaboration with Ashoka, the global association of 3,000 leading social entrepreneurs.
The challenge will identify collaborative social finance innovations that have the potential to impact the banking industry via new products or services.
Innotribe is developing the Social Finance Innovation Platform as part of the Innotribe Incubator, a mechanism to facilitate exploration of new initiatives and provide the support required for testing and development. The participating projects, which could be related to financial inclusion, financial literacy, technology and non-technology solutions or services, will be given the visibility and the opportunity for sponsorship from the financial institutions involved in the initiative. The first Social Finance Innovation Platform will be launched at Sibos, where the selected projects will be presented to a panel of judges and banks.
Martine De Weirdt, Innotribe says, "The Social Finance Innovation Platform is an excellent opportunity to open new markets and customer segments whilst also linking back to social business. It links CSR, innovation and business, and with the support of the Innotribe Incubator, has developed into an initiative that could enable the transformation of the industry."
The development of the Social Finance Innovation Platform within the Innotribe Incubator follows the success of the Innotribe Startup Challenge, an initiative to support entrepreneurs and start-ups entering the banking and finance space.