The COVID-19 pandemic will likely have lasting effects that will impact the Egyptian economy for years to come. We see startups playing a part in creating the short-term – and long-term – solutions for this new reality.
Under the host of the Central Bank of Egypt and in collaboration with the Financial Regulatory Authority (FRA), we have partnered with FSD Africa on a COVID-19 Innovation Sprint that aims to unearth, develop, and refine FinTech solutions that directly address the pandemic in Egypt.
This design sprint will bring together multiple Egyptian banks and financial institutions that are seeking solutions to help them adapt to COVID-19 together with local and international startups who are rapidly creating the products and services that serve their needs.
The sprint was hosted by the Central Bank of Egypt (CBE), in collaboration with Egypt’s Financial Regulatory Authority (FRA) and is supported by FSD Africa, through aid from the UK government.
This event offered Valify an opportunity to bring their solutions to the market, via a relationship with Egyptian banks and financial institutions and other solution-seeking organizations.
Startups focused on digital commerce and finance, including cashless payments, identity, digital invoicing and supply chain payments, regulatory interactions, and other commerce tools are responding to changes in consumer demand. Many of these innovations could be deployed in the fight against the novel coronavirus (COVID-19) pandemic.
Valify participated with it’s eKYC solution that enables customers to sign up for bank accounts or other financial products without having to appear in person – especially in rural areas. It’s eKYC solution requires no touch/in-person, validates the identity of the client all that is done using biometrics and remote sensors utilizing into it’s digital onboarding solutions