Leading Indian financial institution Mahindra Finance has partnered Matchi and KPMG to launch an SME Fintech Challenge, seeking to proof of concept (PoC) SME solutions from across the world.
Mahindra Finance is looking to evaluate innovative fintech solutions for its SME financing business, with the challenge open to startups from around the world with solutions in any of these three categories: Real Time Credit Risk Assessment, SME Risk Monitoring, and SME Cash Flow Management.
Applications are open until November 14, after which Mahindra Finance will assess the solutions and execute a PoC with the most promising ones.
“We are looking to enhance our customer experience through innovative offerings. The Mahindra Finance SME Fintech Challenge is a step towards finding existing solutions which we can adapt to improve our customer’s experience and solve their pain points,” said Balaji Rangachari, head of SME finance at Mahindra Finance.
“We are excited to launch the challenge in partnership with KPMG and Matchi, to further innovate and reach out to creative minds from across the world.”
All applications will be validated by Matchi analysts and then individually scored by a panel from Mahindra Finance, KPMG in India and Matchi. Shortlisted solutions will be invited to give a presentation to the final judging panel on November 28.
Applicants will be assessed based on their potential business impact, ease of implementation, novelty and innovativeness, and solution fitment.
Preference will be given to solutions that have case studies of completed a PoC and implementations, especially in developing markets. The time and effort it would take on average to complete a POC is also important.
