CBE-hosted FinTech Innovation sprint launched to address COVID-19 challenges

CBE-hosted FinTech Innovation sprint launched to address COVID-19 challenges

The three-day innovation sprint will take place in March 2021, with startups having had the opportunity to submit their applications to join the sprint during the period from 19 January to 19 February 2021. They could do so through the CBE's Fintech Egypt portal https://fintech-egypt.com/C19Innovation/. Applications will be assessed to select the sprint participants, based on their ability to provide effective solutions to the difficulties and challenges facing Egypt's banks and financial institutions due to the pandemic. The CBE, in collaboration with a number of banks, has summed up and published those challenges on the FinTech Egypt platform, and other affiliated websites and platforms.Rami Aboul Naga, Deputy Governor at the CBE said, “The initiative is in line with the objectives of the CBE and the financial technology strategy that were announced in 2019 as part of Egypt's efforts to transform into a FinTech regional hub in Africa and the Middle East.” He added, “This initiative represents a promising opportunity for entrepreneurs and startups to develop innovative and technological solutions for banks and financial institutions to facilitate delivering the services to customers.”The CBE will host the selection process of entrepreneurs and startups with creative and applicable ideas, according to precise and specific criteria. Subsequently,