The Central Bank of the Argentine Republic (BCRA) and the National Securities Commission (CNV) opened the call for applications for the 2019 edition of the Financial Innovation Program (PIF). Up to and including July 29, more than 70 projects linked to the proposed work topics were received and teams made up of designers, programmers, students, professionals, economists and entrepreneurs related to the financial and capital markets world were presented.
The objective of the Program is to generate tools and solutions based on the following themes and challenges:
Complementary Agencies | To promote the development of complementary agency services through the use of technology.
Mobile & Home Banking | Improve the user experience in mobile banking and internet banking through technology.
Digital Validation | Use biometric identification to validate banking and capital market transactions.
Financial Education | Apply technology to develop interactive content to bring the population closer to financial concepts – banking and capital markets.
Regtech | Apply technology to compliance with BCRA and CNV regulations.
Market Infrastructure | Apply technology to make the infrastructure of the financial system and/or the capital market more efficient.
This edition is planned in 4 stages, between May and November. The Program began with the application of projects between May and July. Now the Evaluation Committee will select the 10 projects that will be part of the improvement stage until the end of August.
These 10 selected projects, with the collaboration of specialists from the Central Bank and leaders in the fintech industry, will go through an optimization process to finally present them at an event during the month of November.
The three winning proposals will receive the following prizes: 1st place: $125,000; 2nd place: $90,000 and 3rd place: $55,000.
With this initiative, the BCRA and the CNV promote financial inclusion through the formalization of quality ideas and projects, through collaborative work between the public and private spheres.
