ID-Pal has been selected as a Finalist in the 2023 Isle of Man FinTech Innovation Challenge.
The Isle of Man FinTech Innovation Challenge kicks off this week, with the first virtual workshop ‘Setting the Scene’ on Monday 27th March. The FinTech Innovation Challenge is a competition inviting global participants to provide solutions to specific problems in order to support the growth and application of FinTech across the Isle of Man.
The competition is a collaboration between Digital Isle of Man, Finance Isle of Man, and is supported by the Isle of Man Financial Services Authority and Deloitte.
Primarily a virtual challenge, it runs for 7 weeks, between 27th March and 12th May, culminating in an in-person Demo Day on Thursday 29th June at the Comis Hotel, where each business will have an opportunity to showcase and pitch its innovative solution to the judges, and industry experts.
ID-Pal, along with 16 companies from across the globe have been selected as a finalist in the 2023 Isle of Man FinTech Innovation Challenge. Chosen out of 45 applications from around the world, ID-Pal is delighted to be able to play a part in developing solutions that will help boost the island’s digital economy and enhance the Isle of Man’s position as a leading FinTech hub.
ID-Pal and the other selected businesses will now work collaboratively with Isle of Man Government, financial institutions, and other key stakeholders to develop and refine their solutions over the next three months.
This challenge represents a unique opportunity for ID-Pal to work with the Isle of Man Financial Services Authority and Digital Isle of Man businesses in a leading digital hub and scale up solutions ready for the global market.
The Challenge aims to deliver three key objectives:
- Provide technology-based solutions to key industry challenges felt across the Isle of Man
- Demonstrate what success looks like for Global FinTechs seeking opportunities on the island.
- Develop the Isle of Man’s FinTech ecosystem and inspire creativity and collaboration.
Leading our team is Alexander Blayney, Global Partnership & Enterprise Sales. We will keep you updated as we progress through the challenge and find more information on the challenge here.
Winner of Best Customer Facing Experience at the Pay360 Awards and currently shortlisted for Accounting Tech of the Year the UK FinTech awards . ID-Pal is an award-winning ISO 27 001 certified SaaS solution that enables businesses to verify the identity and address of customers in real-time and meet their AML/KYC compliance requirements. The plug and play platform does not require integration and can be up and running same day. Customisable to the specific needs of any business, the solution eliminates the complexity, cost, timelines, and risk associated with regulatory compliance.