FinTech Challenge Ukraine 2018

Information for all participants:

FST received 22 proposals but only 1 proposal is under serious consideration for an award. We will announce the results in an appropriate manner soon.

 

FinTech Challenge Ukraine 2018 – USAID Financial Sector Transformation Project, with the support of the National Bank of Ukraine (NBU) and the Independent Association of Banks of Ukraine (NABU), announces the FinTech Challenge Ukraine (#GOFinTechUA).  The Challenge intends to select up to five winning proposals to develop innovative FinTech solutions to better educate Ukrainians about financial services as well as improve access, usage and quality of financial services across the nation.  The ceiling challenge amount for all awards combined is UAH 1,500,000.

KEY DATES

The CHALLENGES

Challenge #1 – Financial Literacy: Tools to Equip Ukrainians With Practical Knowledge

Challenge #2 – Solving Problems: A Platform for Handling Consumer Complaints

Challenge #3 – Open Financial Inclusion Category

GENERAL REQUIREMENTS (Applicable to All Proposals)

Criteria to apply

  • Open to all developers registered as a private entrepreneur or legal entity registered in Ukraine
  • Proposed solution must support improved access, usage or quality of inclusive financial services in Ukraine and must fulfill the objectives of the particular Challenge category
  • Proposed solution should be service provider or platform agnostic
  • All proposed solutions/applications must be available in Ukrainian
  • Technical and Cost Proposals should be submitted in Ukrainian

For more details, please see Terms & Conditions

Evaluation Criteria

  • Uniqueness of innovation
  • Usability and functionality of the solution to address the particular challenge in the Ukrainian context
  • Business potential to scale and sustain the model
  • Work Plan and Delivery Schedule
  • Qualification of Proposed Experts and Key Personnel
  • Cost Proposal

For more details, please see Terms & Conditions

Selection Process

Proposals will be reviewed and awards will be made in two stages:

  • Stage 1. Based upon the Evaluation Criteria described above, up to 10 (ten) finalists will be selected and invited to the Stage 2 – Finalists Presentation on April 26, 2018. Each finalist has to have at least one team member available to present its solution to the judges in-person on April 26, 2018.
  • Stage 2. During the Finalists Presentation on April 26, 2018 finalists will be given no more than 5 (five) minutes to present their solutions, with 10 (ten) minutes at the end for questions from the judges.

Finalists who have been selected to receive an award will be notified by email and/or phone no later than April 26, 2018 and publicly announced during the Awards Ceremony on April 27, 2018. Each finalist who has been selected to receive an award has to have at least one team member available to present its solution to the public during the Awards Ceremony.

AWARDS

The actual number of awards and their monetary value may vary, depending on the quality of the proposals and cost considerations.

Awards in total up to 1,500,000 UAH will be made to winners provided the following milestones have been achieved:

  • Completed prototype application – 20% of the award
  • Prototype tested and used by at least 1,000 clients – 30% of the award
  • Updated and revised prototype launches and used by at least 5,000 clients – 50% of the award

HOW TO APPLY

Proposals are due no later than April 5, 2018 18:00 Kyiv time, to be submitted via procurement email ProcurementFSTInbox@dai.com. The RFP number (RFP-KYV-18-0063) and title of the activity (FinTech Challenge Ukraine 2018) must be stated in the subject line of the email, cost and technical proposals shall be submitted in different files.

For more details, please see Terms & Conditions

FREQUENTLY ASKED QUESTIONS.

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This will ensure you get all information, changes, and amendments to the Challenge.