FF18 is organized through a collaboration between NextMoney and VISA. Transcendz was honoured to be given the opportunity to co-organize the FF18 Semi Finals to choose Malaysia’s Representative in FF18 Hong Kong.
Talk by Mr Stephen Chia – The Power of Blockchain and the NEM foundation
The event kick started with the sharing by Mr. Stephen Chia, the council member and South East Asia Head for the NEM.io Foundation, an IT foundation with the NEM blockchain technology. It is one of the pioneers of open source and community-based blockchain that is used by enterprises, universities and governments utilizing advance crytopgraphy in executing transactions that spans across the Internet.
Stephen gave a fantastic overview of what blockchain technology is and the 6 advantages of blockchain technology – it is a distributed ledger, massively scalable, the data are immutable, hackproof, encrypted and low cost to use. The potential of blockchain technology and its applications are limitless, and Stephen emphasized that its current usage is just barely scratching the surface of what it is capable of.
Also highlighted in his sharing was the NEM Blockchain center, the first of its kind that will be launched in Malaysia in 2018. It will feature as an education center about blockchain technology and NEM, also as a platform to promote the usage of NEM enterprise blockchain and how startups can approach NEM to fund their projects.
The FF18 Semi Finals Pitching Competition
8 FinTech startups were selected for the FF18 Semi Finals competition. They are:
- Moneybay – Moneybay focuses on the fragmented market of money exchange and they offer a digital platform connecting tourists to money exchange offices worldwide.
- Jom Parking – Jom Parking provides an intelligent parking system/platform for white labeling, and automate the payment via purchasing of tokens online.
- Policy Street – Policy Street is an insurance technology which aims to advance inclusive insurance in South East Asia. It acts as an intermediator between consumers and insurers who ultimately provide the balance sheet risk and regulatory cover.
- SETTL App – SETTL is a mobile application that facilitates the process of bill splitting in group dining situations.The added service of splitting bills will encourage and attract a larger volume of group dining patrons leading to faster table turnaround by just using SETTL.
- Echeq Solution – Echeq blends and fulfill the requirements of SME’s customary practices and the need to forge ahead with the nation’s e-Payment agenda. They aim to be the leading FinTech solution providing fully electronic cheque issuance and depository system.
- MyFinB – MyFinB is a big data and analytics company using A.I that helps translate financial data such as financial statements and bank data into narrative insights. It helps decision makers evlauate risk and return propositions by looking into the current and future scenarios that may impact its currnet position.
- Kainos Technology – Kainos Technology is currently working on a blockchain energy saving consortium to enable energy performance contracting companies to secure their energy saving sand payment data on blockchain technology.
- Fundaztic – Fundaztic’s mission is to “democratize lending and investment by providing rates equitable to risks via reliable big data and technological leverage”. They aim to leverage on technology to enhance access to both financing and investment for businesses and individuals focusing on creating differentiation, speed, ease and value.
It was a tough competition among the competitors, as all of them really gave their best to outdo each other with their presentation and Q&A.
Their presentations also gave insights to the audience on how FinTech is revolutionizing financial services are and is paving the way for the future.
Forum Discussion by Mr. Jason Phua – How Visa is Partnering With The FinTech Community
While allowing the judges deliberate the results, a forum discussion was organized featuring Jason Phua, the Head of Business Development from VISA on “How VISA is partnering with the FinTech Community”.
He gave tremendous insights towards the initiatives Visa took to partner with FinTech companies, such as creating Visa Innovation Centers globally to encourage the FinTech Community to work with Visa on creating innovative solutions.
Also, Jason shared about the Visa Developer Network and how Visa is making it easier for the integration of FinTech solutions with Visa.
FF18 Semi Finals Malaysia Champion and Representative
The event concluded with the judges coming back to the room bearing the good news everyone was looking forward to. After providing their comments and analysis of the startups’ presentation, the champion for FF18 Semi Finals was Fundaztic!
A hearty congratulations to Fundaztic for their stellar perfomance! From Transcendz, we wish you the best of luck for your moment on stage and make Malaysia Proud!
More photos for FF18 Semi Finals can be found here.
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