Egyptian Team Clinches First Place At Arab Fintech Challenge For Second Year Running

(MENAFN- Daily News Egypt) One of the top qualifiers from the second edition of the“FinTech Got Talent” competition, organized by“FinTech Egypt”-an initiative by the Central bank of Egypt (CBE)-has secured first place at the“Arab FinTech Challenge” for the second consecutive year. The competition took place in Dubai as part of the“GITEX North Star 2024” exhibition.

This remarkable achievement reflects the CBE's unwavering dedication to empowering and supporting youth in the FinTech sector. The winners and runners-up of“FinTech Got Talent” received comprehensive backing to represent Egypt in the“Arab FinTech Challenge.” This year, a team from the Faculty of Economics and Political Science at Cairo University won first place with their innovative project,“EZRAALI.” The digital platform connects suppliers, farmers, and traders in a streamlined ecosystem, emerging victorious in a fierce contest among Arab universities.

Ayman Hussein, First Sub-Governor for the Information Technology Sector at the CBE, commented on the victory:“The Egyptian team's consecutive triumph in the 'Arab FinTech Challenge' highlights the CBE's continuous efforts to nurture and develop young talent through the 'FinYology' initiative. This success underscores the richness of the Egyptian market with promising FinTech innovators and reinforces our commitment to equipping university students with the skills and resources to drive innovation, aligned with the FinTech and Innovation Strategy launched in 2019.”

The second edition of the“FinTech Got Talent” competition kicked off this month, in collaboration with the Egyptian Banking Institute (EBI), alongside several universities and banks operating in Egypt. The competition's finale saw exceptional projects presented by teams from 10 public, private, and national universities.

First Place: Nile University's business administration students.

Second Place: Cairo University's Faculty of Economics and Political Science team.

Third Place: Zewail City of Science, Technology, and Innovation's business administration students.

To further support innovation, the“MINT Incubator” will provide all 10 finalist teams with a comprehensive three-month technical support program. This initiative aims to transform their ideas into viable, practical applications.

The“FinTech Got Talent” competition, launched under the umbrella of the CBE's“FinYology” initiative, debuted last year and continues to empower university students to create cutting-edge digital solutions addressing the financial and banking sector's evolving needs.

Since its inception in February 2020, the“FinYology” initiative, in partnership with the EBI and various financial institutions, has achieved significant milestones: Collaboration with 30 public, private, and national universities; engagement of over 7,400 students; and implementation of more than 600 FinTech projects.

This initiative cements Egypt's position as a hub for FinTech innovation, fostering a new generation of talented leaders in the financial technology landscape.

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