17 June 2013

SWIFT Innotribe announces five finalists of Startup Challenge New York

New York, June 17 2013 – Innotribe, SWIFT’s initiative to enable collaborative innovation in financial services, selected five finalists from the U.S. leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai. Nine early-stage start-ups and five growth-stage innovators delivered compelling pitches to an audience of the financial industry’s leading angels, VC’s and decision makers at SWIFT’s offices in Times Square on June 13, 2013.

The three early-stage start-up finalists are:

  • P2P Cash, a secure mobile platform that lowers money transfer cost to zero by using SWIFT standards to allow cash to be sent or received from any mobile wallet or bank account worldwide.
  • Realty Mogul, an innovative web platform that allows investors to browse, screen and sign rare real estate opportunities that have been historically difficult to access.
  • XYverify, a virtually “invisible” mobile payment authentication solution that protects consumers, merchants and financial institutions from identity theft and transaction-related breaches.

The two growth-stage innovator finalists are:

  • Quantum4d, visual analytic software that allows users to access large-scale data systems, and construct, edit and explore interlinked 3D arenas and workspaces intuitively.
  • The Entrepreneurial Finance Lab, an automated service that has helped companies and lenders in more than 20 countries to identify high potential, credit-worthy entrepreneurs based on a psychometric system, while reducing their default rates and risks.

The top five finalists from the New York Showcase will now advance to the Innotribe Startup Challenge final to be held at Sibos, SWIFT’s annual conference, in Dubai in September, to compete against finalists from the Singapore and London Showcases.

Matteo Rizzi, co-founder at Innotribe said: “This year’s New York Showcase featured start-ups that are poised to become the future of the financial industry. The pitches were very engaging and the finalists should be proud of their accomplishments.  Now in the second full year of the Startup Challenge, we are excited to see how our network of industry professionals has grown, enabling us to offer a much needed platform for these great emerging businesses.  We wish all of the finalists luck as they compete at Sibos Dubai in September.”

The New York Startup Challenge was the last of three regional challenges to be held in 2013 and was sponsored by HP, Invest NI, Level39 and Sberbank. The London and Singapore Startup Challenges were held earlier on April 18 and May 16, respectively.

More information about the Startup Challenge, including the New York semi-finalists, is available at http://innotribe.com/2013-startup-challenge/.

 

About Innotribe
Launched in 2009, Innotribe is SWIFT's initiative to enable collaborative innovation in financial services.  Innotribe presents an energising mix of education, new perspectives, collaboration, facilitation and incubation to professionals and entrepreneurs who are willing to drive change within their industry. It fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). It is through this approach, the Innotribe team at SWIFT is able to generate a platform that enables innovation across SWIFT and the financial community. For more information, please visit http://www.innotribe.com/.

About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

For more information, please refer to www.swift.com or contact:

SWIFT
Ashley O‘Brien
Tel: +1 212 455-1942
ashley.obrien@swift.com
 
Intermarket Communications
Jade Faugno
Tel: +1 212 754-5425
jfaugno@intermarket.com