Man with Virtual Reality Goggles

SAS FinTech Challenge 2017-2018

#SASFINTECHCHALLENGE

Radiance background

Introduction

SAS FinTech Challenge 2017-2018 (“The Challenge”) is a competition to encourage students and academics in Malaysia to contribute ideas and develop innovative solutions to enhance the banking experience and solve organizational business pain points.

SAS, in collaboration with Malaysian Digital Economy Corporation (MDEC) aims to excite students and academics in the FinTech ecosystem while accelerating its use in the financial services industry.

FinTech definition: computer programs and other technology used to support or enable banking and financial services. FinTech is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services.

Radiance background

Challenge Description

Conceptualise and prototype a FinTech Business Model that is viable for practical implementation in Banks or Financial Services Industries.

Radiance background

Technology Sandbox

Radiance background

Eligibility

Students and academics who are currently enrolled in any Institutes of Higher Learning in Malaysia, are eligible for the Challenge.
You must gather a team between 2-8 members and you will be required to identify a team leader on the registration form. 

Radiance background

Key Dates

1–30 Oct 2017Registration & business model concept proposal submissionNote: You have to submit a document illustrating the concept, value proposition, pain points and customer journey to help the judges understand the “what, why and how”.
15 Nov 2017Announcement for Top 20 and prototype building
20 Nov 2017 – 29 Dec 2017Technology Training
8 Feb 2018Submission and Presentation of Minimum Viable Product (Initial Prototype)
14 Feb 2018 Announcement of Top 5
31 Mar 2018Final presentation and prize giving
Radiance background

Prizes

A cash pool of RM102,000 will be awarded as follows:

Champion TeamRM50,000
1st Runner UpRM25,000
2nd Runner UpRM10,000
17 Consolation PrizesRM1,000
Radiance background

Judging Criteria

The concept papers must consist of the following sections:

  • Project title
  • Executive Summary
  • Project Proposal
    • Background
    • Project Objectives
    • Expected Outcome
    • Project Plan
  • Business Case
    • Go to Market Plan
    • CAPEX investment Plan (12 & 24 months)
    • Forecasted Profit & Lost (12 & 24 months)
  • Bill of Materials
    • Software
    • Hardware
    • Technical Training

The papers will be judged equally on the following criteria:

  • Design. How does the project meet the objectives of the Fintech Challenge.
  • Innovation. How novel is the idea.
  • Value. What is the potential value of this idea.
  • Scalability. How scalable is the idea.
  • Ease of Use. How easy/intuitive is this for users.

In order to provide a starting point for ideas, seed concept papers have been created. Participants are free to use any of the ideas, modify existing ideas or come up with their own ideas.

Radiance background

Frequently Asked Questions

Do participants need to share working prototypes by 30 October 2017?
No. If you are selected as a Finalist, you will be asked to present your working prototypes . For now, we are only asking for a concept paper that describes your business model and idea. The format of the concept paper can be found here.

Is registration in the Challenge free?
Yes.

What are the rules?
Take a look at the Terms & Conditions. All participants will be required to acknowledge and agree to the terms and conditions in order to register for the Challenge.

I'm from outside the regions/countries in the program, can I still participate?
Yes, the Challenge is open to participants from all over the world as long you are an active student or academic of local universities. For more information on eligibility, take a look at the Terms & Conditions.

I’m an 18 year-old high school student, can I still participate?
No, the Challenge is only open for active students/academics of local universities. For more information on eligibility, take a look at the Terms & Conditions

Do I have to join a team?
We recommend that you put together a team that consists of 2 - 8 members.

How many people can be on my team?
As guideline, we would recommend a team consists of 2 – 8 members.

What if I have left university when my team progresses to the elimination rounds?
No worries! As long as you are an active member of the university upon time of registration, you will still be eligible to take part and win the challenge.

Can I be a member of more than one team?
You can be a member of more than one team. However, upon short-listing you only can be in one short-listed team, not multiple teams.

Can my team submit more than one concept paper?
Yes! We welcome any number of concept paper from a team.

Can my team only consist of lecturers?
No. The majority of the members of the participating teams should be students.

What is the scope of the Challenge?
Conceptualize and prototype a FinTech Business Model that is viable for practical implementation in Banks or FSIs.

Does SAS pay for my company / my team / my trip?
No. If you're invited as a finalist, you'll have to pay your own way.

What's the hashtag?
#SASFINTECHCHALLENGE

Who owns the IP on prototype we make?
Refer to Terms and Condition Clause 20

What criteria will the judges use to evaluate the prototypes?

  • Design. How does the project meet the objectives of the Fintech Challenge.
  • Innovation. How novel is the idea.
  • Value. What is the potential value of this idea.
  • Scalability. How scalable is the idea.
  • Ease of Use. How easy/intuitive is this for users.

What are the awards?
A total cash pool of RM102,000 is up for grabs!

Do I have to submit my registration forms in English?
Yes, submissions should be completed in English only.

Can my app be in a language other than English?
Yes, as long as English is one of the supported options. Apps in other languages may be submitted.

Can I form my team with friends/students from other universities?
No, you may form your team with students/academicians from the same university that you attend only.

Radiance background
Checklist - Icon

Concept Paper Template

Download
News

Seed Concept Paper

Download
Courses

Terms and Conditions

Download

Organised by

SAS The Power to Know logo in midnight blue

Supported by

MDEC
Ministry of Higher Education

Judging and Mentoring Banks

CIMB Bank
Hong Leong Bank
Public Bank
RHB Bank
Maybank

Back to Top