Nation Current Affairs 10 Mar 2017 Visakhapatnam: 30 fo ...

Visakhapatnam: 30 foreign delegations take part in Fintech

Published Mar 10, 2017, 3:12 am IST
Updated Mar 10, 2017, 3:13 am IST
About 150 startups will compete in four challenges.
Special Chief Secretary and IT Advisor to AP government, J.A. Chowdary addresses the inaugural session of Spring Conference in Visakhapatnam on Thursday
 Special Chief Secretary and IT Advisor to AP government, J.A. Chowdary addresses the inaugural session of Spring Conference in Visakhapatnam on Thursday

 Visakhapatnam: The two-day Fintech Spring Conference in the run up to the Global Summit with $1-million award for the best startup, commenced in the city on Thursday.   

The conference witnessed over 150 startups competing in four Fintech Challenges, of which 40 per cent participants were from 15 countries.


About 30 international delegations from Japan, Singapore and Switzerland also participated in the event.

The two-day conference includes panel discussions related to scope in the field of financial technologies, competition among the startups having best solutions for problems being faced in financial world.

To have collaboration to develop fintech ecosystem, the state government signed a partnership agreement with Lattice80, Pearson, Anthill Ventures, HackerEarth, F6S, Forum Synergies, Hyderabad Angels, Zone Startups, ParadigmIT and Trade Land Finance Tech Consortium (TLF).

Roy Teo, director, Fintech & Innovation Group, Monetary Authority of Singapore (MAS) said they were looking for collaborations rather than competition so as to progress in the fintech world which will have minimal risk and maximum efficacy. 

To accelerate the evolution of Fintech Valley, the AP government will conduct the flagship Global Fintech Summit on Feb 19 & 20, next year, which will give an opportunity to participate in the $1-million global fintech award challenge and the `1-crore Indian fintech award challenge.

Prior to it , the government will host the Blockchain Technology international event.

CM speaks through video-conference
Offering full support to organisations, incubators, facilitators and startups, inviting anyone with disruptive ideas to be a part of Fintech Valley, on the edge of innovation, Andhra Pradesh Chief Minister N Chandrababu Naidu interacted with delegates for an hour through  video conference and took inputs from the fintech community at the conference.

Addressing the gathering, he said, “The Fintech Valley Spring Conference is our step in joining the Fourth Industrial Revolution which is a spectacular combination of technology and Internet of Things (IoT). In recent times, technology has started influencing our lives in a comprehensive manner. The demand for Fintech is growing each day. To meet this demand, we would need the support from Fintech and Cyber security companies. We also need the academic institutions to adapt curriculum that trains individuals to contribute to fintech sector.”