Application
Incubation
Unique Programme for Prototype Development
The SupTech Application Incubation is an accelerator for financial authorities and technology vendors to co-create and deploy cutting-edge, scalable suptech applications. To facilitate and de-risk this collaboration, our team helps detail the technical specifications, designs and implements agile procurement of the vendors, and provides project management support and hands-on technical assistance including security testing.
Through the Application Incubation competitions, vendors are awarded the funds to develop and test working prototype solutions in partnership with the agencies. Scroll down to see requests for proposals for current projects.
Benefits
Benefits for Financial Authorities
- A fully funded grant for the development of a prototype to launch your digital transformation
- Procurement process outsourced to Cambridge SupTech Lab
- Custom co-creation of a solution that you can bring to production according to your terms
- More robust capability to enhance your consumer protection supervisory practices and keep pace with market and regulatory mandates
- A roadmap for your ongoing suptech strategy
Benefits For
Financial Authorities
Benefits For
Vendors
Benefits for Vendors
- A fixed-sum grant to develop and test the required solution
- Enhanced vendor platform with new tools developed through this prototype.
- Be listed in the Lab’s online Vendor Database, a dynamic, web-based platform to explore and connect with solution providers who have been active in the global suptech market.
- Be invited to present at the Lab’s SupTech Week – the largest gathering of the suptech community globally, as well as hackathons and techsprints.
- Be recognised in a case study the Lab will write following the successful completion of this project.
Current Projects
Intelligence Platform for Flagging Fraudulent Fintech Apps
Project Description
Create a market-level working prototype of a suptech application that can detect and flag fraudulent fintech apps based on metadata, including data collection and validation mechanisms, storage mechanisms, ML-based analytics, and interfaces for additional future products to integrate with.
This project will empower the Reserve Bank of India Innovation Hub staff responsible for managing the intelligent tool and can provide the insights and interfaces to power future suptech products (e.g., web-based tools and/or those installed directly on a user device) as a preventative anti-fraud.
Expected Benefits
- Reduce fraudulent activities and enhance the robustness of the fintech ecosystem
- Mitigate reputational risks by pre-emptively screening out malicious apps
- Generate consumers awareness about fraudulent apps and due diligence
- Alert consumers of fraudulent apps through tools built on top of this working prototype
- Increase consumers confidence in the digital financial ecosystem
Financial Authority
Reserve Bank of India Innovation Hub (A wholly owned subsidiary of the Reserve Bank of India)
Sponsor
The Bill & Melinda Gates Foundation and the International Finance Corporation (IFC)
Financial Authority
Superintendency of Popular and Solidarity Economy (SEPS)
Sponsor
The Bill & Melinda Gates Foundation
Partner
The World Bank
Financial Consumer Protection Suite with AI-Chatbot, Web Portal, and Automated Transactional Analysis
Project Description
Implement new, online mechanisms, assistance with advance chatbot and channels for handling complaints/claims/inquiries from beneficiaries and other affected parties. Ensure transparency, accountability, and responsiveness to the needs and concerns of the users and clients of financial institutions.
Expected Benefits
- Increased speed and efficiency in complaints and claims handling through process automation
- Greater transparency, accountability, and responsiveness to the needs and concerns of the users and clients of financial institutions
- A culture of financial education
- Enhanced trust and satisfaction among customers by preventing, and resolving conflicts
Financial Consumer Protection Complaints Monitoring with Automated Collection, Processing, and Advanced Analytics
Project Description
Create a working prototype for a market-level suptech solution to enhance this financial authority’s consumer protection and market conduct supervision. Automate the complaints data reporting process and augment supervisory insights needed for data-driven regulation with additional granular consumer complaints data and advanced technology.
The solution will allow extensibility for more advanced features such as AI-driven trend analysis; root cause analysis; risk identification; benchmarking and comparison of banks; supervision through real-time monitoring and eventually predictive analytics. The prototype will explore various AI techniques to assess impact and value of integrating this functionality into the supervisory process.
Expected Benefits
- More effective risk-based interventions and lower risks for consumers
- Increase consumer trust in financial services, including digital financial services offered by supervised banks
- Early warnings for enhanced monitoring
- A risk-based approach for consumer protection and market conduct regulation
- Increased time and workforce resource efficiency
Financial Authority
Undisclosed
Sponsor
The Bill & Melinda Gates Foundation
Partner
The World Bank
Prototypes Developed For Consumer Protection Supervision
An advanced analytics tool processes web and social media streams, linking trends in historical complaints data using ML for consumer protection.
FINANCIAL AUTHORITY
Bangko Sentral ng Pilipinas (Central Bank of the Philippines) and Securities and Exchange Commissions of the Philippines
VENDOR
Winnow Technologies
SPONSOR
The Bill & Melinda Gates Foundation
Chatbot upgrades incorporate NLP and AI, integrating with a data warehouse & dashboard to analyze historical complaints for financial authorities.
FINANCIAL AUTHORITY
Otoritas Jasa Keuangan (Financial Services Authority of Indonesia) and Bank of Ghana
VENDOR
Proto.io and Winnow Technologies
SPONSOR
The Bill & Melinda Gates Foundation
Advanced market monitoring tools enhance capabilities, identifying trends, anomalies, and patterns beyond sentiment analysis for entity and activity monitoring.
FINANCIAL AUTHORITY
Superintendencia de Banca, Seguros y Administradoras Privadas de Fondos de Pensiones of Peru
VENDOR
Financial Network Analytics (FNA) and Winnow Technologies
SPONSOR
The Bill & Melinda Gates Foundation
Resourcing
- Choose vendor selection model that best fits project’s need
- Vendor selection through global competition
- Vendor due diligence and contracting
Prototyping
- Use the “lean” approach to accelerate testing and development
- Apply “rapid learnings” from each iteration to progressively refine the project
- Frequent iterations with checks-in with supervisory agency and course corrections
Production
- Prototype tested
- Capacity building for supervisory agency to maintain the application (if required)
- Implementation of change management plan