Karandaaz Pakistan signed grant agreements with the winners of its third ‘FinTech Disrupt Challenge’ at a ceremony in the metropolis.
The annual challenge, run with the support from the Bill & Melinda Gates Foundation, funds start up ideas that use technology to bring financial services to the underserved segments of the economy and create a social impact.
In this round, Karandaaz had invited FinTechs to design and present solutions in nine thematic areas, including payments, interoperability, consumer/retail banking, regtech, insurtech, mobile wallets, loyalty programmes, lending, and savings.
After a close competition between 16 FinTech startups, the three that were selected included Matilda Solutions, Love for Data, and AgriMart.
Matilda Solutions is working on developing a biometric verification authentication suite, which will include fingerprint verification, liveness detection, and facial recognition.
Love for Data is developing a credit scoring algorithm based on data analytics, which will predict fraud detection and credit profile of a consumer.
Source: https://www.thenews.com.pk/print/424824-karandaaz-pakistan-fintech-sign-deal