Liberty launches global fintech challenge

Source: Matchi

In partnership with Matchi, Liberty is challenging the global FinTech community to enter their market-ready solutions into the Liberty FinTech Challenge 2016.

Shortlisted entries will compete for a PoC project (Proof-of-Concept project) within the Pan African financial services giant.

The Liberty Fintech Challenge 2016 was launched globally on Friday, 13 May 2016 and will close for response on Tuesday 31 May 2016 at 23:59 GMT.

The Liberty FinTech Challenge 2016 is calling for relevant, market-ready responses in two (2) exciting, customer-focused categories:

Category 1: Get an insurance quote, just by speaking to your phone

This category is calling for solutions that will make it easy for Liberty’s financial advisors to get things done, simply by talking. For this category, the focus is on generating an insurance proposal in a few sentences. The solution should be able to turn sounds into words, and those words into intent.

Category 2: Password-less authentication

This category is calling for solutions that will identify customers through their unique behaviour or other attributes –in order to give them access to their information without the need for a password. For this category, potential respondents should think beyond biometrics.

On the Matchi site, potential challenge respondents from around the world can see videos detailing
exactly what Liberty the challenge is looking for. Prospective entrants can then sign up or login to submit
an overview of their innovation, and motivate why it should be selected for a PoC project within Liberty.
All entries will be validated and individually scored against set criteria:

  • Novelty/ Innovativeness
  • Ease of Implementation
  • Potential impact (revenue, cost or efficiency)
  • Overall Impression.

The three highest ranking innovations in each category will have an opportunity to present their solution to a judging panel from Liberty on 23 June 2016. From there, one innovation will be announced as the ultimate winner in each category and the two winning firms will continue through to the PoC project phase.

“In the retail business at Liberty we are now focusing all our efforts on our customers, and in particular our customer pain points. The Liberty FinTech Challenge 2016 is our first step in sourcing existing solutions which we can adapt and modify to solve these pain points. We are excited to begin this journey in partnership with Matchi, to further innovate, expand our reach and access creative capacity from across the world.” comments David Lloyd – MD Innovate at Individual Arrangements.

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