New York October 7, 2020 – We are delighted to announce that TymeGlobal, from South Africa, has won The Female Economy FinTech of the Year award as the top-scoring participant in the Alliance Hack 2020: Driving the Female Economy. Ndovu, from Kenya, earned the Female Economy Silver Fintech Award, and GFI Fintech, from Malaysia, earned the Female Economy Bronze Fintech Award. Winners were revealed on the second day of the Alliance Annual Summit, following pitches from the top five finalists. Our panel of expert nine judges scored the solutions based on a thorough evaluation of the creativity of ideas, scalability, and relevance to the female economy
The Alliance Hack was born out of our latest research into fintech and the female economy, published in our report: “How Fintechs can profit from the Multi-Trillion-Dollar Female Economy.” It was supported by our host, the Singapore Fintech Festival and APIX, our partners include Amazon Web Services (AWS), Mastercard Start Path, Swift, AXA and We-fi, and our contributors from our wide network of financial institution members. Challenges in four challenge tracks—banking, wealth, insurance, and payments. were tackled by twelve shortlisted teams from ten different countries.
These teams pitched to an expert judges panel: Amy Neale, Senior Vice President, Mastercard; Damien PANG, Deputy Chief FinTech Officer, Monetary Authority of Singapore; Delphine Maisonneuve, CEO and Group Chief Innovation Officer, AXA Next; Inez Murray, Chief Executive Officer, Financial Alliance for Women; Jennifer Flowers, ASP Head of Partnership & Innovation, HSBC; Sharon TOH, Head of ASEAN region, SWIFT; Virginia Tan, Founding Partner of Teja Ventures, Founder of She Loves Tech, Co-Founder and President of Lean In China; Wendy Teleki, Head of the We-Fi Secretariat, We-fi ; Angela Nieto, Technology SVP, BHD León.
This is one of the first global initiatives aimed at motivating fintechs to focus on the women’s market, reflecting our belief that fintechs can be a game changer in driving women’s financial inclusion and independence.
We are pleased to award TymeGlobal with the $25,000 USD cash prize and automatic entry into the finals for Mastercard’s award-winning Start Path program, as well as award to the top three teams complimentary year-long membership to the Financial Alliance for Women.
GFI Fintech is a data analytic tech company that specializes in profiling technology for the financial industry. It develops cutting edge solutions by integrating multiple scientific disciplines, including artificial intelligence, machine learning, behavioral sciences and psychometrics. Its flagship product – GFI – which is an AI-based psychometric credit risk assessment, predicts whether an individual will default on a loan and has been used since 2018. GFI enables banks to confidently lend to customers with no formal credit history – many of whom are women. It allows banks to expand its market, improve repayment and contribute to enhancing the economic empowerment and financial inclusion of women and low-income individuals.