As the world’s biggest tech companies are leading the way to expand their digital payment services in the biggest markets around the world, it is believed that smaller markets will sooner or later see a replication of these offerings.
Finding new industry leaders in smaller markets is an important task to not only help the economy thrive but also to achieve greater financial inclusion.
In an effort to spur innovation in financial services to promote financial inclusion in Myanmar, DaNa Facility, the UK Government-backed innovative private sector development programme has announced the launch of Fintech Challenge Myanmar 2020.
Organised by DaNa Facility, the United Nations Capital Development Fund (UNCDF) and the Asian Development Bank’s ADB Ventures, Fintech Challenge Myanmar 2020 is currently welcoming applications from Myanmar and international fintech companies interested to collaborate with financial institutions to focus on financial inclusion in Myanmar.
“There is a revolution underway in financial services around the world and Myanmar is going to soon be feeling the effects of disruptive new technologies on the financial services industry. This is going to be a very good thing for Myanmar’s consumers,” said Tom Moyes, DaNa Facility senior access to finance advisor.
Applications need to be submitted via the FCM2020 website: http://fintech.danafacility.com/.
Successful applications will participate in a two-month collaboration and mentoring with a financial institution and the successful providers will be able to demonstrate the products and services at the Myanmar Fintech Day, scheduled for June 2020.