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Valify Wins the Arab Federation of Exchanges Hackathon

Fintech Galaxy is launching the region’s first Fintech Retreat 2020, bringing the ecosystem together for a more inclusive and less-cash focused society. The idea of the retreat is built around the importance of personal relations and human interaction, despite all the digitization and transformation around us. Fintech is about living a better and happier life.

The Arab Federation of Exchanges was established in June 1978 to be the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in the Hashemite Kingdom of Jordan. The headquarters of the Arab Federation of Exchanges is located in Beirut, Lebanon.
To provide a regional and international reference to the Arab Financial Markets through:
The AFE is the Arab industry group for exchanges and Clearinghouses (CSD’s), and financial institutions (brokerage firms) around the Arab regions (GCC, Levant and Arab African countries).

United Arab Emirates (UAE) based Fintech Galaxy. Founded in the United Arab Emirates in 2018 by Mirna Sleiman, Fintech Galaxy is a regional platform that fuels innovation in the financial services sector, drives ecosystem collaboration and facilitates integration between financial institutions and fintech companies. From scouting to deployment, they aim to build the future of financial services across the 22 Arab Countries. They have FinX22, which is an open API platform that enables development, testing and deployment of fintech solutions, all according to its website.

 

 

Valify showcased its eKYC solution which supports different IDs for each market and competed against 67 participants during the one-week hackathon. The panel of judges was appointed by AFE and included experts such as:

  • Dr. Mohamed Farid Saleh – Executive Chairman and President – EGX
  • Houssam Itani – Partner of Financial Services Practice – EY
  • Nameer Khan – Chairman and Founding Board Member – MENA Fintech Association

Participants were scored based on technology, innovation and relevance, feasibility, and presentation skills and Valify won first prize which included induction to Oracle’s unique acceleration program that enables mutually beneficial business-building partnerships for startups, our customers, and Oracle. 

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