Our MINT FinTech Hackathon, in partnership with FinTech Galaxy, has come to an end. Two startups have managed to win and were fast tracked to join our Incubator program!
Data science and analytics have transformed and disrupted the financial services landscape, improving the decision-making process whilst opening up new opportunities for banks. That’s why MINT by EGBANK tackled the issue of Digital Lending & Credit Scoring for Non-Clients to unlock the disruptive powers of technology to help the unbanked customer get access to lending, in a cross-industry use-case, using smart digital tools, real time data and new access channels in Egypt.
The Winners are:
1st Winner: Genify.ai
Given the absence of financial + credit data when it comes to unbanked Egyptian individuals & companies, alternative data sources need to be adopted. These data sources can be found online for free (social media activity) or can be accessed through authorization from third parties such as telecom operators, utility service providers or real estate agencies. For this hackathon, a natural language processing model will scrape data on Egyptian millennials selected at random from Facebook & will input these relevant data points – where applicable – into a credit scoring engine tailored for the Egyptian market.
2nd Winner: Mawlny
Mawlny is an Islamic Peer-To-Peer FinTech platform that is specialized in providing collective Islamic loans to individuals. We will enable individuals who are not financially covered to access the financial system and get their financial needs in an easy and secure way and to enable investors to have alternative and diversified options for investment and with rewarding short or medium-term returns.
The Prizes included:
- 1st Winner: 5,000 USD
- 1st and 2nd Winning teams: A fast track to the pitch day of the incubation screening
· Fintech Galaxy:
- 1-year free Stars membership on FinX22
- Access to Oracle’s Unique Accelerator Program “Oracle for Startups” connecting promising startups with cloud resources and enterprise expertise: Free credits for Oracle Cloud, plus access to additional credits and other exclusive benefits