KPMG, Singaporean agency to empower FinTech start-ups

 Ife Ogunfuwa

To address financial challenges globally, KPMG has partnered the Monetary Authority of Singapore to identify and empower innovative FinTech start-ups as part of the Global FinTech Hackcelerator programme.

KPMG said at a press conference in Lagos that the FinTech Hackcelerator initiative, powered by its digital village, was seeking start-ups all over the world that could address challenges spanning customer engagement, lending, insurance, asset management, financial inclusion and regtech.

The Senior Manager, Fintech Practice, KPMG in Nigeria, Ladi Asuni, explained that the programme aimed to get 1,000 applications from FinTech start-ups across the globe, adding that the top 20 teams would be selected for a 12-week accelerator programme in Singapore.

According to him, each team will receive a stipend of $20,000 and will be matched with industry champions to customise their prototypes into market-ready solutions for adoption.

“The hackathon is derived from the need for FinTechs to come together to create solutions to address financial challenges. KPMG is working with financial services experts to come up with 100 problem statements that cut across financial inclusion, engagement, regulatory technology and other areas. Fintechs are expected to come up with solutions to address the problem statements,” Asuni said.

A Partner and Head, FinTech at KPMG in Nigeria, Boye Ademola, stated that Nigerian FinTechs had the capacity to solve industrial issues and their participation in the global initiative would place the country on the map as a FinTech hub.

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KPMG, Singaporean agency to empower FinTech start-ups

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