Three fintech solutions have won Proof-of-Concept projects within Mahindra Finance

Leading Indian NBFC, Mahindra Finance, is delighted to announce three winning solutions from their recent Global Fintech Challenge. All three solution providers will continue with Proof-of-Concept projects within Mahindra Finance with a view to roll out and implement their technologies. 

The winning solutions as aligned to three (3)  SME-focused categories are:

Category1: Real Time Credit Risk Assessment
Winner: EFL Global (USA)
Runners Up: Confirmu.com, FriendlyScore, Big Data Scoring and Singular Intelligence Limited

Category2: SME Risk Monitoring
Winner: NanobiData & Analytics (India)
Runners Up: Pragmatix Services, JMR Infotech and Scorto

Category 3: SME Cash Flow Management
Winner: Finansync (UK)
Runners Up: Strands, Luminous Banking, ewise and Atsora

Powered by KPMG in India and Matchi, the Mahindra Finance SME Fintech Challenge was marketed globally and attracted entry from 60+ leading fintech firms across 18 countries. 14 solution providers were shortlisted to demo to the final judging panel at Mahindra Finance head office on 20 December 2016 before the winners were selected.

Mr. Ramesh Iyer, Vice Chairman and Managing Director, Mahindra Finance said, “The SME Challenge that we ran with Matchi and KPMG allowed us to tap into a pool of innovative solutions and reach a wide spectrum of fintech companies in a short time. The help of the team to facilitate the process and jointly curate the entries was invaluable.”

“The Mahindra Finance SME Fintech Challenge with Matchi and KPMG has proven to be a fruitful process which delivered a high number of unique fintech solutions aligned to our customer pain points. We believe that the winners have standout solutions that can substantially improve our customer experience. This challenge is one big step by us towards fostering a healthy fintech ecosystem” said R Balaji, Senior Vice President – Marketing and Strategy.