Fintech Valley Vizag launches Fintech Startup Challenge in India

BENGALURU: In a bid to make the city of Visakhapatnam the fintech hub for the country and the world, Andhra Pradesh’s Fintech Valley Vizag has launched the first Fintech innovation challenge for India’s leading broking firm, Angel Broking. As financial services companies are adapting to the transition of India to a digital economy – since the introduction of debit cards, ATMs and e-commerce – they are simultaneously seeking partners to collaborate for financial technology. This challenge is an opportunity for start-ups and individuals to develop a solution to enables real time social profiling of customers in the era of big data.

With their problem statement – ‘Real Time Social Profiling of Customers’, Angel Broking is looking for a solution that would enable real time social profiling of new and existing customers, on the basis of attributes such as demography, income bracket, age, social data (Facebook, Twitter, Instagram, LinkedIn, etc.) and mobile application usage (e.g. presence on financial applications such as Moneycontrol, Yahoo Finance, etc.).

Speaking about the challenge Mr. Gagan Singla – Chief Marketing Officer, Angel Broking: “Technology is in Angel Broking’s DNA. Throughout our three decades of experience, we have been constantly reinventing our digital and technology platforms to stay ahead of the curve. With a perfect blend of Investment Advisory expertise and technology prowess, today we are a truly new age Digital Investing Company. ‘Real-time Social Profiling’ - Fintech Challenge is another step to take the customer experience to the next level by giving smarter and more personalized technology based solutions. We are honoured to launch the challenge in collaboration with the Andhra Pradesh Fintech Valley. We are excited to meet the creative and innovative minds.”

All shortlisted fintech firms and individuals will be invited to showcase and demonstrate their solutions to the Indian financial industry leaders at the Fintech Spring Conference organized by Fintech Valley, to be held on March 9-10, 2017 at Visakhapatnam. That is not all; the winner of the challenge will be awarded a cash prize of INR 5 lakh. The winner will also receive coaching and mentoring by the corporate partner and free space for six months in the Fintech Tower.

Special Chief Secretary & IT Advisor to the Chief Minister, Government of Andhra Pradesh, Mr. J A Chawdary said “India is witnessing a surge of early stage start-ups in the Fintech space and it’s essential that we forge partnerships with them in the gestation period of their ideas. Going forward Fintech Valley Vizag intends to create a co-working space for fintech start-ups in the Fintech Tower and this challenge is a stepping stone for that.”

About Fintech Valley Vizag

The next wave of digital disruption in Fintech and innovation is taking place in Fintech Valley Vizag.

The Fintech Valley brings together public and private players, state of the art incubators and accelerators, innovation labs, mentorships, angel investors and anyone willing to break free from traditional processes. The self-sustained global Fintech Ecosystem provides more than just access to Fintech and its innovators; it nurtures an oasis in which cyber security, block chain, digital education and research thrive at international standards. The Fintech Valley was built to equip individuals and businesses with a unique set of opportunities to grow through enabling market access for start-ups to angel investors, and providing world-class infrastructure, funding, human capital and innovation.

Driven by Chief Minister Nara Chandrababu Naidu’s vision to create 5 lakh jobs in Andhra Pradesh by 2020 through technology-enabled services, the recently established Fintech Valley is a playground for start-ups and innovators looking to disrupt traditional business processes.  Vizag is set in the #1 ranked state for ease of doing business and boasts a strong IT industry with a turnover of 2,000 crore, supported by a robust industrial base and educational infrastructure that is continuously expanding. Fintech Valley is the destination in India to achieve unmatched business goals and successes that can compete internationally.

About Angel Broking

Angel Broking Pvt. Ltd. is today one of the leading Indian stock broking houses, with a focus on retail business and a commitment to provide “real value for money” to its clients. The Angel Broking Group is a member of the BSE, NSE and the country’s two leading commodity exchanges, the NCDEX and MCX. Angel Broking provides a wide range of personalized wealth management and investment services to its retail clients. These include Stock and Commodity Trading, Portfolio Advisory and Management Services, Investment Advisory Services, Distribution of Mutual Funds, IPOs, Personal Loans and Insurance, as well as E-broking & Depository

Services – all supported by intensive research and a six sigma backed Quality Assurance program.

Angel Broking Group provides its value-added services to over 9 lakh individual retail investors through its nationwide network of 132 branches, including 17 regional hubs 8400+ registered sub-brokers/business associates and an all India employee strength of 3500+. Angel Broking has one of the largest trading terminal bases (16,308 terminals) in the country, and the largest sub broker network on the NSE, clocking one of the largest volumes in the industry. The company’s shareholders include International Finance Corporation (IFC), the private investment arm of the World Bank.

Angel Broking's Hyper-Intelligent Investment Engine - ARQ launched in 2016 was awarded as the 'Launch of the Year' at the Global Marketing Excellence Awards 2016. The firm also bagged Assocham Excellence Award as "Technology House of the Year" (2016) &  "The Best Mobile APP" at Global Marketing Excellence Awards 2016

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Prajakta Kuwalekar