FinLab BD has awarded three organizations with Tk crore awards for innovative ideas to develop women-friendly solutions to increase institutional participation of women in the country's financial transactions and to protect micro, small, cottage and medium (CMSME) entrepreneurs.
FinLab BD is a joint venture between a2i, the United Nations Capital Development Fund (UNCDF) and MicroSave Consulting (MSC). The winners of the 'Women's Financial Inclusion Challenge 2022' and the 'CMSME Innovation Challenge 2022' were awarded in a ceremony organized at the auditorium of the Bangabandhu Military Museum in the capital on Monday.
Md. Mezbaul Haque, Executive Director and Spokesperson of Bangladesh Bank, as the Chief Guest, handed over the prizes to the winners.
Ala Uddin Ahmed, Chief Executive Officer of MetLife Bangladesh, and Selim R.F. Hussain, Managing Director of BRAC Bank Limited, were present as special guests. Md. Mamunur Rashid Bhuiyan, Project Director (Joint Secretary) of a2i, presided over the event.
Three innovators with the best digital solutions for financial inclusion are Dana Fintech, Mutual Trust Bank (MTB), and Apon Wellbeing. A demo check of Tk 75 lakh was awarded to Dana Fintech, Tk 50 lakh and 75 thousand to MTB, and Tk 50 lakh to Apon Wellbeing for innovative ideas. Ideas will be tested and implemented under the supervision of the Bangladesh Bank.
Out of 123 innovative ideas from across the country, three were shortlisted for the award by an esteemed panel of judges through several stages, including initial screening, bootcamp, grooming, and a technical evaluation panel.
In the speech of the chief guest, Bangladesh Bank Executive Director and Spokesperson Md. Mezbaul Haque said, "in order to accelerate financial inclusion, it is very important to take innovative initiatives in the financial services sector and develop new fintech products. a2i projects always have a culture of innovation and aim to provide opportunities for young entrepreneurs to take up innovative ventures".
Md. Mamunur Rashid Bhuiyan, Project Director (Joint Secretary) of a2i, said, ‘Financial Innovation Lab (FinLab BD) is a great initiative, which will accelerate financial inclusion through innovation and piloting of new FinTech products, and I believe that the selected innovators through FinTech Innovation Challenge-22 organized by FinLab BD will develop new financial innovative products. ’
