A ROBUST INTERCONNECTED ECOSYSTEM
WHAT IS FINCONECTA?
WHAT IS FINCONECTA?
FINCONECTA is a program dedicated to create the first interconnected ecosystem of solutions between financial institutions (FIs) and leading financial technology companies (FinTechs). Yes, that’s correct! The IDB Group is promoting the creation of an interconnected ecosystem of solutions to foster the exponential growth of the financial industry. The goal is to drive rapid prototyping, collaboration and interoperability among the ecosystem players, FI’s and FinTechs.
WHY SHOULD I PARTICIPATE?
- Select the problems you want FinTechs to solve for you
- Have access to the best FinTechs in the world
- Understand and use the best integration tools
- Guidance to connect to “Forward”, a global marketplace
- Use of the dedicated tech sandbox to test and pilot selected
- Collaborate with other FIs with the same vision
- Participate at the Festival showcasing your success stories
- Relevant presence as banking participants
In short words, with FINCONECTA you will be able to test FinTech solutions on a safe environment “sandbox” before committing with them through the integration to Forward. For more info send a line to: email@example.com
- Unrivaled exposure to financial institutions
- Create exponential revenue streams
- Simple and effective integration through “Forward”
- Opportunity to present ideas to the right audience
- Exposure in the Latin American and the Caribbean markets
- Exposure to potential investors
- Access to the sandbox
In short words, with FINCONECTA you will be able to generate business directly with the participant financial institutions through the integration to Forward. For more info send a line to: firstname.lastname@example.org
OVERCOMING CHALLENGES WITH FINCONECTA
Integration is an external technology solution to a FI tech stack that could take months if not years, requires dedication, prioritization, risk analysis, follow procurement processes. For FinTechs, this could represent their lifeline.
INTEROPERABILITY AND SCALE
The actual current connecting model is mostly 1-to-1 (i.e., one FI with one FinTech). A costly model that prevents or decelerates scale. Interoperability is still not yet efficiently addressed.
WHEN WILL FINCONECTA PRESENT RESULTS?
At the Foromic (IDB’s flagship event) 2017 in Buenos Aires, Argentina where the top integrations between FIs and FinTechs will be showcased.
The selection of the top integrations will be based on the benefits they bring to the FIs, the success of their solutions and its impact on financial inclusion.