Innovation Challenge: Problem Statements

Problem Statement 1

How might we use artificial intelligence, machine learning and other related innovative technologies
When assessing applications for financing from SMEs and other customers
So that we can improve the bank’s credit decisions and reduce instances of default?

FinTech Startup Finalist

Problem Statement 2

How might we utilise public register information held by the ADGM Registration Authority and made accessible via API
When onboarding and making lending decisions in respect of SMEs registered in ADGM
So that we can streamline the bank’s due diligence processes for these customers?

FinTech Startup Finalist

Problem Statement 3

How might we better identify and assess events and other dynamic factors which impact the probability of default risk and the overall risk monitoring process
Of international companies that import goods from UAE small and medium enterprises (SMEs) as well as domestic companies
So that we can monitor changes to the risks that ECI underwrites when insuring UAE SMEs against the default of payment of their international trade partners over the  short, medium and long term?

FinTech Startup Finalist

Problem Statement 4

How might we enable completely digital customer journey from onboarding to transactions, and minimize:
- face to face and physical clients’ interaction,
- onboarding time
- risk of fraud, money laundering and sanctions
Without compromising on the convenience and security
While
- keeping in compliance with the governing regulatory requirements and international best practices
- keeping the personal relationship nature of banking
So that we we could securely migrate our customers to mobile and internet banking channels and efficiently serve them remotely. 

FinTech Startup Finalist 

Problem Statement 5

How might we leverage new technology and innovative techniques to analyse large sets of transactional data between banks and other financial institutions
In order to more effectively identify patterns of money flows which are indicative of money laundering, terrorist financing, or other financial crime.

FinTech Startup Finalist

Problem Statement 6

How might we use innovative solutions to enable the creation and validation of financial information, robust future cash flow predictions and sustainable business model strategies
For small and medium enterprises (SMEs)
So that we can help build trusted and transparent credit profiles that provide the banks and other financiers a greater level of confidence of their credit-worthiness?

FinTech Startup Finalist