Fintech
Kyyba Innovations, FinTech Consortium and Detroit FinTech Bay host Detroit Fintech Challenge


The “Detroit Fintech Challenge” (DFC) is returning to Detroit for a second year after a successful inaugural event in 2018. DFC is an opportunity for participants to tap into the fintech ecosystem comprised of professionals, stakeholders, market leaders, and influencers in the finance, banking, and insurance services markets. Early-stage startups and entrepreneurs compete to earn a variety of prizes while they network and work collaboratively to solve corporations’, governments’, and consumers’ most pressing financial technology-related problems and interests, and then present them in a competitive style pitch competition. Kyyba Innovations, FinTech Consortium and Detroit FinTech Bay have partnered with Techtown Detroit and Detroit Fintech Association for this annual event series to identify game-changing innovations in the financial services industry. DFC is also being supported by William Davidson Foundation, GM Financial, First Independence Bank, Varnum Law Firm, and Corp! Magazine.
Tel K. Ganesan, Managing Director, Kyyba Innovations, commented: “We are so delighted to host the Fintech Challenge in collaboration with FinTech Consortium. We truly see this as a catalyst to drive a community in Detroit around fintech that will help in re-energizing the city and state with a diversified economy leading to economic prosperity for years to come.”
“Globally, fintech innovation and investment is taking place at an unprecedented pace,” said Maissan Almaskati, Chief Executive Officer of FinTech Consortium – USA. “We’re pleased to be supporting entrepreneurs and innovators in Detroitand to bridge this ecosystem to key centers of fintech excellence around the world.”
Winning teams will receive a variety of valuable prizes. The grand prize winner will be offered an equity investment from Kyyba Innovations, up to $50,000, and the top three winners will receive a combined total of $15,000 in cash prizes. FinTech Consortium is also offering the top three winners the opportunity to attend a one-week residency at Silicon FinTech Bay, the newest North American FinTech Consortium hub location. There they will work with a team to develop and refine their concept, and then present to a group of venture capitalists. Six finalists will receive $5,000 in legal services from Varnum Law Firm.
Detroit Fintech Challenge is happening on August 3, 2019, at Techtown in Detroit. Startups can submit the applications until June 30, 2019.To register for DFC, please visit www.detroitfintechchallenge.com. Questions can be directed to Sarah Myrand: [email protected]
SOURCE Kyyba Innovations
Fintech
Accura Scan, The Only Certified Biometric Solution Provider in Middle East & Africa for Banks and Telcos

Global Identity Verification and Digital KYC solutions provider, Accura Scan is pleased to announce being awarded ISO/IEC 30107-03 compliance after passing a presentation attack detection (PAD) iBeta Level 2 audit with 0% FAR, making it one of the few companies worldwide and the only in India, Singapore, APAC & Middle East to have such a recognition.
As part of the testing procedure to assess the performance of Accura Scan face biometric liveness system, which is already being used by clients globally, it was successfully tested with millions of data points in alpha & beta testing modes. Its algorithms were pitted against various forms of spoofing attempts, including but not limited to 3D-printed and curved masks, silicone and paper masks, and videos of real subjects.
Yasin Patel (YP), Accura Scan’s CEO & Founder, expressed great pride in the achievement, adding, “Obtaining the ISO 30107-03 standard after passing the rigorous iBeta level 2 test demonstrates the effectiveness of our solutions against spoofing attacks.” He further announced that in keeping with their motto of ‘Biometrics for All’, Accura Scan would be offering its trusted Identity Verification Suite for free to all start-ups, while established entities would be offered various modules for as little as USD 5,000 a year onwards.
Commenting on this feat, Director – International Sales, Reza Writer, added, “Ambition greater than resources is in the DNA of Accura Scan. We have achieved this feat with a very small but highly skilled & dedicated team that has executed the organizational goal beautifully.”
The ISO 30107-3 framework measures a biometric system’s false acceptance rate (FAR) and false rejection rate (FRR) at the point of presentation. Passing the evaluation with an FAR of 0%, means that the company’s biometric algorithms offer a high level of spoof resistance in all environments.
Headquartered in India, Accura Scan has been completely bootstrapped & profitable since its incorporation. It has firmly established itself in the MENA region over the last 4 years, working with some of the most esteemed Banks, Telecoms & Fintechs globally. As a part of its global strategy, it has now registered itself in Singapore, the EU, the UK, & the US. With top-notch Identity Verification & Digital KYC products, it is confident of making a mark in these markets.
Fintech
BIM Exchange integrates traditional currency option for buying and selling cryptocurrencies

BIM Exchange revolutionizes the purchase of crypto-currencies: implicity and security guaranteed
BIM Exchange, the French pioneer of crypto-currency exchange platforms, today announces a major breakthrough in the ease of access and security of crypto transactions. With its new feature, it has never been easier to buy and trade crypto-currencies, bridging the gap between the traditional Web and Web 3.0.
Integration of payments in tradtional currencies: Euro, Dollar, Pound Sterling and Swiss Franc
BIM Exchange now enables its users to buy crypto-currencies directly by bank transfer in less than 24 hours, regardless of their currency. The funds are then securely transferred to the user’s decentralized wallet, such as Ledger, TrustWallet, MetaMask or other.
This method considerably simplifies access to digital currencies, while guaranteeing maximum security.
Fintech
Monzo founder talks Prosper. Company sees incredible demand for its Crowdfund, smashing 130% of its target, raising over £785,000.

Having recently announced its crowdfund was open to the public and with a little more than a week to go, Prosper today confirmed it has hit 130% of its funding target, raising over £785,000.
The company is backed by some of the biggest names in fintech. One of those, Tom Blomfield, the founder and former CEO of digital bank Monzo, said:
“The crowdfunding community was vital to Monzo’s growth and helped us engage with our early users. Like Monzo, Prosper is a customer champion brand shaking up the wealth industry. As I invested in Prosper, it became clear that speaking to the community would also play a part in their journey. It’s only the beginning, but I’m excited to help more people prosper!”
Monzo’s first crowdfunding campaign raised just under £1m at a £30m valuation. Today, that valuation stands at “around £4 billion”, according to Sky News. With a week of its own crowdfund still to go, Prosper hopes to build on that success, already closing in on Monzo’s original raise achievement.
“We’ve been blown away by the demand we’ve seen from our community. It’s a testament to the value we can create building a customer-championing business in the world of saving and investing,” said founder and CEO Nick Perrett.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.
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