Fintech firms: Join the ADX Innovation Challenge today!

Fintech firms: Join the ADX Innovation Challenge today! 

By: Abu Dhabi SME Hub
Opportunities

ADX is on the lookout for a new technology tool that can support retail investors in making more informed investing decisions.

The Abu Dhabi Securities Exchange is hosting a new Innovation Challenge for innovative fintechs, titled ADX Innovation Challenge - Investors Financial Literacy and Enhancing Financial Inclusion.

Apply here. Submissions close soon, on July 4, 2021.

The problem

Unlike retail investors, institutional investors are more diverse, complex and knowledgeable and have the resources and specialized expertise for extensively researching a variety of investment opportunities. Hence, there is a need for a toolkit or a product based on artificial intelligence geared towards retail investors for collecting and analyzing exchange and trading data to help fill the knowledge gap, enhance financial literacy, and facilitate better investment choices for retail/non-institutional investors.

Customer pain points

• Retail investors often lack the required information to make informed decisions on their investments
• There is no central repository of information on company performance, stock performance, trading data, financial news, etc.
• It is a time-consuming and tedious process for retail investors to perform proper research on companies, trades, stocks, news, etc., in order be able to make more informed decisions

Needed solution

• The solution must automatically source and serve up data to support investment decisions, with a focus on quality, accessibility and analysis of investment data, covering fundamental analysis, technical analysis and researches.
• The solution much enhance the retail investor’s decision-making journey and provide all the relevant information surrounding the investment opportunities.
• The solution should offer an elegant user-friendly design, and minimize the number of touchpoints, throughout the customer’s end-to-end journey.
• The solution should be channel agnostic and allow for information to be served up to the user through mobile, web, data streams, etc.
• Add-on or Plug-ins to use not stand alone. Through website or app (android & IOS)

Conditions

• Applicants: REGIONAL & GLOBAL mature, enterprise-ready fintechs and tech firms

• 8 fintechs are going to be shortlisted for the first round (screening)

• Only 5 fintechs will be competing for the demo day (finalists)

• 1 winner will be chosen for this theme

• Submitted ideas tackle the stated challenge for the theme

• Regulatory rules need to be met in case the product is brought to market

Selection criteria

• Clear and well-defined USP

• Adaptability of the solution to meet different client requirements

• Innovative features

• Product-market fit: feasibility for MVP, POC and time to market

• Sustainability and scalability of the solution

• Technical capabilities

• Ease of implementation

• Solution Support

Judging criteria

• Technology: Does the solution solve the problem using any disruptive technologies? Is it intuitive and customer-centric?

• Innovation: Originality and quality of the proposed solution/ product. How original or unique is this idea? Has this already been tried?

• Feasibility: Feasibility of implementing the solution (ease of execution and integration). How clear, logical and likely are the steps outlined in the submission to demonstrate the potential of the idea?

• Presentation: Were the founders/executives of the fintech company able to present the solution in a clear and efficient manner? Did they finish on time?

• Relevancy: How relevant is the solution to the proposed problem statement? Is the solution compatible with local regulations?

Application timeframe

Challenge Start Date
Jun 01, 2021

Submission Deadline
Jul 04, 2021

Round 1 Shortlisted Date
Jul 05, 2021

Finalists Date
Jul 12, 2021

Challenge End Date
Jul 15, 2021

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