HONG KONG, CHINA - Media OutReach - 3 January 2020 -
The IFTA Fintech Achievement Awards are officially open for applications.
The awards are organised by the Institute of Financial Technologists of Asia and recognises achievements worldwide in FinTech innovation, education, R-D, and its applications through its 26 corporate and four individual award categories.
Established in September 2017, the IFTA is a Hong Kong-based non-profit organisation aiming to promote professional standards within Asia's FinTech industry, to facilitate its education, and to nurture new talents. For two consecutive years, the awards recognises companies that have contributed to this emerging industry, facilitating the development of FinTech in Hong Kong.
This year's awards are themed "Transforming FinTech Communities with Competence, Character, and Care". They recognises talents and corporates in their pursuit of innovative solutions that meet both business and social needs. Apart from being able to demonstrate their competence in the respective judging criteria, the awardees should also uphold a high standard of ethics and professionalism, and are committed to continuous improvement.
According to OFTA, the awards serves as a baseline within the FinTech industry, encourages corporate and professional development, thus facilitating the sustainable development of the FinTech community.
"The IFTA FinTech Achievement Awards aims to recognise companies, NGOs, start-ups, and individuals who have contributed to the FinTech industry." says IFTA founder and chairman, Paul Pong.
"Through the awards, we hope to facilitate the exchange of FinTech companies across the globe, laying a solid foundation for local products to 'Go Out'," he says.
IFTA head juror Dr Charleston Sin adds, "There are two major stakeholders in the FinTech industry: corporates and start-ups, both needing information on industry trends.
"As challenges faced by practitioners vary across the fields, the Awards offers an excellent opportunity for information sharing and exchange, encouraging the industry to solve the problems together," he says.
The award categories are as follows:
Corporate Achievements in FinTech (for corporates, NGOs, and start-ups)
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1. |
Accounting Tech |
Incorporating or developing its proprietary technology into accounting services |
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2. |
Advisory Tech |
Using algorithm-driven technology to deliver automated decisions on investment opportunities |
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3. |
Algo-Trading |
Using programmed software to identify and place trades to generate profits efficiently and effectively |
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4. |
Artificial Intelligence |
Applying simulation of intelligence processes that perceives and takes actions itself based on its environment |
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5. |
Blockchain-based Transformation |
Using technology to assist with digital currency access, trade, exchange, and storage; or to provide blockchain or distributed ledger services |
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6. |
Cloud Computing |
Using a delivery mode of computing services to offer faster innovation, flexible resources, and economies of scale |
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7. |
Crowdfunding |
Using technology to access and raise funds for investment opportunities via the internet |
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8. |
Cybersecurity |
Using programmed software to protect operating systems and data from potential cyber-attacks |
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9. |
Big Data Analytics |
Using technology to analyse extensive raw data collected from different parties for insights and trends |
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10. |
Data Privacy |
Using technology to ensure private data of stakeholders are protected without violation of rights or exposure to commercial entities |
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11. |
Digital Banking |
Using electronic payment systems that enable end-users to transact payment without physically attending bank branches |
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12. |
Digital Ethics |
Displaying ethical behaviour that has contributed to the promotion of social justice in digital communities |
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13. |
Financial Planning Tech |
Incorporating or developing own proprietary technology to deliver mortgage broking, stockbroking, and other financial planning services |
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14. |
HR Tech |
Using technology to manage employee data for compensation and payroll, performance management, and recruitment |
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15. |
Innovative Tech |
Demonstrating a creative aspect utilising new ideas, methods, alterations and unique changes from existing FinTech systems |
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16. |
InsurTech |
Using technology to assist the insurance claims process, and enhance policyholder experience |
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17. |
Internet of Things (IoT) |
Using IoT systems for creative use on FinTech products/services |
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18. |
Investor Tech |
Using technology to assist with the provision of capital and financial support |
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19. |
Legal Tech |
Using technology to provide legal services transforming time-booking services or legal research etc |
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20. |
Lending Tech |
Using technology to assist with accessing capital, mortgage, personal, and other loan products |
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21. |
Payment Tech |
Using technology to assist with payment, funds disbursement, money transfers, payroll, or other payment services |
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22. |
PropTech |
Using technology for the real estate space, spanning across software, hardware, materials, or manufacturing |
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23. |
Reg-Tech |
Using technology to assist with meeting regulatory compliance obligations |
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24. |
Robotic Process Automation (RPA) |
Using "robots" to emulate and integrate the actions of a human interacting within digital systems to execute a business process |
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25. |
e-Provident Fund |
Using electronic infrastructure and processes to standardise, streamline and automate MPF scheme administration |
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26. |
5G |
Using 5G technology to increase speed, reduce latency, and improve the flexibility of wireless services |
Outstanding Financial Technologists of the Year (for individuals)
Open for Applications
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1. |
Entrepreneur of the Year |
Recognising founders or start-ups for their track record of business growth, finance and/or technology innovation, and community engagement. |
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2. |
Leader of the Year |
Recognising leaders, managerial grades or above, with outstanding achievement who has made significant contributions to the finance and/or technology industry |
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3. |
Future Star of the Year |
Recognising young professionals, on or below 35, with outstanding achievement who has made significant contributions to the finance and/or technology industry |
The Prestige Award (by appointment only)
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4. |
Iconic Star |
Recognising professionals who have devoted their lifetime, creating extraordinary impacts on the FinTech environment with success stories to share. |
