The closing day of the Financial Innovation Program (Programa de Innovación Financiera, PIF) took place on November 9. In her opening words, Verónica Rappoport, Alternate Deputy Governor of the BCRA, said: “Our great challenge is to achieve a larger, deeper, more competitive and inclusive financial system, articulating between the private sector, the government and organizations.”
Throughout the day, fintech industry specialists analyzed the impact of technology on the financial world and everyday life, discussed global trends in the adoption of digital financial services and shared their insights on the most promising areas of innovation.
The event culminated with the awarding of the winning projects:
First prize
Front: this app allows users to save money easily and in a friendly manner according to their savings goals; recommends how to keep their money safe from inflation; and grants benefits when achieving goals.
Members: Juan Correa, Andrés Di Giovanni, Alan Mac Carthy and Fabián Mealla.
Second prize
TuCuota.online: service that includes a software (TuCuota.online) that enables professionals and small stores to offer the best loans online according to the credit profile of their customers. Banks and financial companies compete for granting a loan, which pushes credit cost downwards and improves loan terms. Once the loan is approved and the customer’s identity is validated online, the bank or financial company delivers the money to the professional or small store and, in turn, they deliver the goods. Thus, the customer receives the best funding and the shop avoids risk exposure. This service is provided in exchange for a small fee charged to each bank or financial company that has actually granted the loan.
Members: Maximiliano Isa.
Third prize
Transparenta: platform that provides information on credit and investment options granted by financial institutions by means of user-friendly graphic comparisons. This is expected to encourage competition among banks and to cause them to improve their products, services and benefits with the aim of building customer loyalty. This service stands out on two reasons: it rests on the public information provided by banks; and it enables customers to associate their accounts through APIs. This platform provides updated data on their bank profile and specific information on the financial institution’s products, fees, rates and benefits.
Members: Javier Roberto Carrón, Lucía González, Fiorella Pesce and Nelly Irina Ponce Rodríguez.
In the 2018 edition of the PIF, the jury was composed of: Rudi Borrmann (Modernization Secretariat), Santiago Pinto Escalier (Fintech Chamber), Pablo M. Fernández (Banco Galicia), Alejo Macaya (BCRA) and Iván Novakovich (National Securities Commission).
Note | Project description is published by each team during the first stage of the program on the public challenges platform.
