SWIFT Institute announces today that it has selected seven university student teams to compete in the inaugural SWIFT Institute Challenge at the SWIFT Business Forum London on 20 April at Tobacco Docks.
The 2016 SWIFT Institute Challenge asked students to address a real world challenge being faced by remittance senders, receivers and their banks operating in the UK market, and was open to any UK-based recognised university, or centre of learning, with an interest in banking. Each student team was required to identify a solution that would enable a bank’s customer to send money cross-border, via their own bank, to an individual in a country where there is little or no banking infrastructure.
The seven finalists representing four UK-based universities include:
On 20 April 2016, the seven finalists will join SWIFT’s Business Forum London event to give a 10-minute pitch to a select audience of judges from across the financial services industry. Harriett Baldwin, Economic Secretary to the Treasury, City Minister will announce the winning team and present a cheque for 15k GBP. The winning team will also be awarded travel and expenses to attend SWIFT’s annual financial services event, Sibos, and the opportunity to pitch their developed solution at the Sibos conference in Geneva in September.
“The SWIFT Institute Challenge is a great opportunity for students to help form the future of the financial services industry, says Peter Ware, Director, SWIFT Institute at SWIFT. “Students also benefit from the opportunity to meet face to face with potential employers, investors, or partners. We are excited to see the students pitch their innovative solutions at the SWIFT Business Forum London.”
As a part of the Challenge, each finalist will also receive complimentary presentation coaching and mentoring sessions ahead of the formal pitches at the event.
Following the 2016 showcase, the SWIFT Institute will review and identify additional industry challenges and markets to target for future competitions.