The selected firms are currently undergoing an intensive five-week program which allows them to contextualize and present market-ready solutions tailored for the Middle East, Africa and South Asia (MEASA) region.  

“We are delighted with the high caliber of entrants that we have received from some of the most promising FinTech practitioners in the industry. What firmly stood out was the remarkable quality of solutions presented. The panel of expert judges had a very tough time selecting the finalists from the 166 applicants. This is the first time that a challenge like this has been delivered in the region and we would like to thank each and every one of the applicants for their time in putting forward such market-ready solutions,” said Wai Lum Kwok, Executive Director of Capital Markets, Financial Services Regulatory Authority of ADGM.

The 11 successful companies come from Singapore, India, Hong Kong, China, Canada, United Kingdom and the UAE. Each of the applicants put forward exceptional ideas that provided innovative and game-changing solutions to a series of problem statements to address real business challenges that the financial services industry currently faces. 

Within the five-week program, the shortlisted finalists will be tasked with developing their solutions to specific problem statements, focusing on six focus areas: Financial and Investment Management, Financial Inclusion, RegTech, Trade Finance, InsurTech and Private Capital Markets.

Over the course of the program, each finalist will also benefit from the support and mentorship of an expert pool of more than 14 FinTech and financial industry leaders over the course of the program, including topic deep-dives on business incorporation, regulatory requirements, funding and partnerships, opportunities to enter or expand into the MEASA financial services sector and fast-tracked consideration for admission to ADGM’s Regulatory Laboratory program.

All finalists will then proceed to the hotly-contested FinTech Demo Day, hosted by Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, in collaboration with KPMG, where two eventual winners will be selected and invited to demonstrate their solution at the upcoming Global FinTech Hackcelerator in Singapore. 

The successful applicants are NewBridge FinTech (UAE), Alpha FinTech (Singapore), Everledger (UK), FRS Labs (India), ftcash (India), Market IQ (Canada), Canopy (Singapore), Silent Eight (Singapore), Privé Financial Limited (Hong Kong), PIVOT (China) , & SQREEM (Singapore).