By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Tatweer Misr breaks sales record in H1 2023
    Tatweer Misr breaks sales record in H1 2023
    September 25, 2023
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    September 25, 2023
    SODIC reports 22% sales growth in 2023
    SODIC reports 22% sales growth in 2023
    September 25, 2023
    Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
    Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
    September 25, 2023
    HSBC plans climate tech funding push
    HSBC plans climate tech funding push
    September 25, 2023
  • Politics
    PoliticsShow More
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: 11 FinTech startups showcase solutions for COVID-19 challenges at Innovation Sprint events
Share
Notification
Latest News
Tatweer Misr breaks sales record in H1 2023
Tatweer Misr breaks sales record in H1 2023
Business
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Business
SODIC reports 22% sales growth in 2023
SODIC reports 22% sales growth in 2023
Business
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Business
HSBC plans climate tech funding push
HSBC plans climate tech funding push
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > 11 FinTech startups showcase solutions for COVID-19 challenges at Innovation Sprint events
Business

11 FinTech startups showcase solutions for COVID-19 challenges at Innovation Sprint events

Daily News Egypt
Last updated: 2021/03/24 at 8:40 PM
By Daily News Egypt 3 Min Read
Share
SHARE

Prototypes for innovative financial technology (FinTech) solutions were showcased, on Wednesday, during the COVID-19 Innovation Sprint. 

The initiative was launched by the Central Bank of Egypt (CBE) in collaboration with the Financial Regulatory Authority (FRA). It was organised by DFS Lab, an early-stage FinTech accelerator, and supported by FSD Africa, a development agency focusing on financial inclusion. 

Prototyped solutions were presented through the efficient contribution and cooperation of FinTech startups, Egyptian banks, and financial institutions participated in the sprint.

The COVID-19 Innovation Sprint aims to encourage entrepreneurs and FinTech startups to develop technological solutions for banks and financial institutions operating in Egypt to address the challenges related to the novel coronavirus (COVID-19) pandemic. 

The sprint activities included holding intensive workshops for three consecutive days from 15-17 March, with the participation of 11 selected startups. 

The selection was based on the effectiveness of the solutions offered by their solutions to address COVID-19 related challenges. It took into account the convenience of their solutions to be implemented in cooperation with banks and financial institutions operating in Egypt. 

P banks have offered the necessary support and guidance for the startups to develop their solutions and come up with applicable prototypes.

More than 90 local and international FinTech startups applied for the sprint and were evaluated based on predefined selection criteria.

A shortlist of 24 startups of applicants was shared by CBE with the 26 participating banks, with the objective of triggering the cooperation between the two parties.

Rami Abulnaga, Deputy Governor at the CBE, said, “The aim of the COVID-19 innovation sprint was to positively impact the banking and financial sector, by stimulating cooperation between banks & institutions with FinTech startups that can develop innovative solutions to tackle COVID-19 related challenges, in accordance with the CBE’s objectives, and providing that their products and services meet the needs of customers. Participating banks and financial institutions will have an opportunity to move forward with potential solutions developed by the FinTech startups.”

Previously, the CBE, in collaboration with banks operating in Egypt, enumerated the challenges faced by banks and the financial sector that resulted from COVID-19. These were published on the CBE’s “Fintech Egypt” platform, as well as on relevant websites and online platforms. 

These challenges, which require to be addressed through the development of advanced technological applications, reflect the real needs of the banking sector, arising from the coronavirus pandemic. 

Some of the tackled COVID-related challenges were the remote lending and alternative date, cashless payments, queuing and customer service, remote marketing and education, in addition to, supply chain and invoicing finance.

You Might Also Like

Tatweer Misr breaks sales record in H1 2023

Real estate exports boost Egypt’s economy, Cityscape panel reveals

SODIC reports 22% sales growth in 2023

Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour

HSBC plans climate tech funding push

TAGGED: fintech, Sprint events
Share this Article
Facebook Twitter Email Print
Previous Article Hertfordshire University Hertfordshire University participates in EduGate 2021
Next Article Blue Nile dam known as Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile River Egypt Ethiopia Sudan Daily News Egypt Egypt shows flexibility in GERD talks, while Ethiopia manoeuvres: Egyptian official
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Tatweer Misr breaks sales record in H1 2023
Tatweer Misr breaks sales record in H1 2023
Business
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Real estate exports boost Egypt’s economy, Cityscape panel reveals
Business
SODIC reports 22% sales growth in 2023
SODIC reports 22% sales growth in 2023
Business
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Huawei partners with Egypt to transfer modern technologies for digital transformation: Madkour
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?