Bengaluru: The International Financial Services Centres Authority (IFSCA) has named Signzy one of winners of its ‘Sprint01: BankTech’ Hackathon. Signzy secured the top rank for its Unified KYC Solution. The hackathon was open to all eligible FinTechs from across the globe and was one of its kind, being backed by a Financial Sector Regulator.
The other two winners of the Hackathon are SBNRI Technologies Private Limited, and EdgeVerve Systems Limited, who won for Retail Banking Products at IFSC and Buyers Credit Optimization respectively. Signzy and others were granted a prize money totaling ₹24 Lakh.
All three winners will be allowed a direct entry into the applicable IFSCA Regulatory or Innovation Sandbox. They will further receive Regulatory guidance and handholding. After a successful exit from the respective Sandbox, they will get an opportunity to set up business at GIFT IFSC.
Commenting on the win, Ankit Ratan, co-founder of Signzy said, “We are honoured to receive this recognition from IFSCA for our Unified KYC solution, and this win is dedicated to the larger Signzy team that has worked hard to create one of the best digital KYC and customer onboarding platforms anywhere in the world. We are equally excited to participate in the IFSCA Regulatory and Innovation Sandbox, as we look forward to new opportunities to make a meaningful difference to the growth and evolution of the global fintech industry.”
“Sprint01: BankTech” under the banner of I-Sprint’21 was launched with a focus on Banking Sector and was hosted by IFSCA and GIFT City in collaboration with NITI Aayog. The Partners to the Hackathon were ICICI Bank, HSBC Bank, International Centre for Entrepreneurship and Technology (iCreate), Zone Startups, and Invest-India.
The global FinTech Hackathon is part of InFinity Forum 2021. InFinity Forum is IFSCA’s flagship financial technology event, uniting the world’s leading minds in policy, business and technology to explore and advance the biggest ideas in FinTech and to develop those ideas into global solutions and opportunities.
Signzy has won many awards in the recent past for its technology innovation, some of them being IAMAI’s Most Innovative Fintech Data Solution Provider Award, ASSOCHAM’s ICT Startup Awards, Technoviti Award 2020 for Video KYC, and many more. In the past, Signzy has also won awards from regulatory bodies like RBI and MAS Singapore.