SWIFT’S Start-Up Challenge

/ By Cellia Shani /

Start-Up / Getty

Start-Up / Getty

SWIFT (acronym for, ” Society for Worldwide Inter bank Financial Telecommunication”) is a members-owned cooperative through which the financial world conducts business operations. It calls on start ups from around the world to participate in its prestigious innovation competition: the Start-Up Challenge.

The Start-Up Challenge competition provides an opportunity for  start-up companies in the financial services area to present their innovative technology to the global financial community of SWIFT.  Matteo Rizzi, SWIFT’s Innovation Manager and the man who established the innovation initiative explains, “The Start-Up Challenge competition is designed for companies around the world who are in business, at most for three years, and need to register by the end of March. Participation is open to financial services companies, but also to companies with adjacent technology, for example, companies engaged in the areas of online and mobile payments, companies who develop security systems, companies who develop means for preventing fraud, and those who focus on areas such as e-commerce, digital identity, and more.”

Finalists will be invited to SWIFT’s business forum, which will be held in London in April, and in New York in June. The winners will have the opportunity to present their company at SIBOS — an annual banking and financial conference sponsored by SWIFT,   to be held at the end of 2013 in Dubai.

Moran Buganim-Gold, the Israeli commercial attache in Brussels, the seat of SWIFT’s headquarters, states that this is a real opportunity for qualified Israeli companies to gain significant exposure in the field of global financial industry. She adds that SWIFT is keen to be approached Israeli start-ups.

SWIFT is a consortium of banks that provides a network of communications, products and services, for the secure transmission of messages and payments among banks. The vast majority of banks and financial institutions in the world are members of this network; it has more than 10, 000 members from 212 countries.

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