18 March 2014

Through the Startup Challenge, Innotribe provides the SWIFT community with valuable insights into fintech innovation

The financial crisis has impacted the way we do business and the rapid evolution of technology is having a significant impact on both bank’s offerings and on customer’s expectations.

Today, companies have to identify and address the current needs of their customers, whilst supporting the most effective and innovative processes and technologies that will anticipate their needs in the future. This is how to position your business at the forefront of the industry, and this is where Innotribe Startup Challenge comes into play.

The applicants for this year’s Innotribe Startup Challenge show the vibrancy and strength of the global fin-tech startup scene. Every year the bar gets higher with many impressive applications from startups and growth-stage innovators vying for the top spots at each event.

— Kevin Johnson, Innotribe Startup Challenge Manager

SWIFT is playing to its key strengths as a community builder, by bridging the gap between fintech innovation and the SWIFT community, helping to understand, and engage in innovations that are happening in and around the financial industry.

Innotribe

Innotribe is a community that brings together strategists, Banks’ operations and technology leaders, industry experts, venture capitalists, trend-setters and trend-watchers, all willing to drive change for the benefit of the financial service industry.

The Startup Challenge

Through the Innotribe Startup Challenge, we bridge the gap between the Fintech startup ecosystem, and the financial community, bringing early insights into innovations that could disrupt current business models and create opportunities for new ones.

A record number of applications

Over 280 startups have applied to the competition this year – this is a 100 more than 2013. These companies are coming from 39 countries and their judging and ranking is now underway.

Key innovation areas

This year, we have tagged the startups in order to highlight new trends that are affecting the financial service industry. We will use this information to understand what threats and opportunities are out there and identify the areas where the startups are innovating these days. Quite in line with SWIFT priorities, the top 5 key areas are: Corporate, Investment Management, Big data, P2P Payments, and Compliance.

Over 500 judges and 45 semi-finalists

A pool of over 500 Judges from across the financial, technology, and investment communities, including a number of SWIFT staff, will evaluate the participants and help select the top 45 semi-finalists.
The semi-finalists will showcase their new products during three regional events. They will pitch directly to the audience, who will decide which of the startups get invited to the Grand Final at Sibos in Boston. We will announce the 45 semi-finalists in April 2014.

Book the dates for our regional showcases

  • London, on 1 May 2014
  • Singapore, on 15 May 2014
  • New York, on 5 June 2014

Innotribe has been supported within SWIFT’s marketing division ever since its inception five years ago. Fabian Vandenreydt, Head of Markets Management & Core Business Development, is now leading the initiative, supported by Kevin Johnson, Innotribe Startup Challenge Manager, and Audrey Rase, Innotribe Communications Specialist.