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The winners are set to get a total of US$15,100 cash prize, a ticket to Echelon Asia Summit 2017, and participation in Mandiri Capital Indonesia incubator programme for fintech startups

The FINSPIRE 2016 finalists posed before the final round

The FINSPIRE 2016 ended today in Jakarta with the announcement of Privy and Yonk as the winners.

Privy provides legally binding electronic signature and identity for all sort of online transactions. It provides different types of online signatures for different fields, from human resource management, sales, to procurement.

As for Yonk, it is a mobile app that helps small and medium enterprises (SMEs) in Indonesia manage their banking and taxation. The startup was also one of the seven startups competing in the Top 100 Startup Search: Indonesia qualifiers.

Also Read: How UOB is leading the charge for FinTech innovation in the region

At the event which was hosted by Mandiri Capital Indonesia (MCI) and e27, the winners are set to get a total of IDR200 million (US$15,100) of cash prize, a ticket to Echelon Asia Summit 2017, and participation in MCI incubator programme for fintech startups.

The event also brought together several keynote speechess and panel discussions, inlcuding one featuring Brata Rafly (DIMO Pay), JP Ellis (C88 Financial Technologies), Aidil Zulkifli (UangTeman), and Erik Koenen (Deloitte Digital Consulting) as moderator.

The discussion also involves topics such as what hinders Indonesian fintech startups to reach the unicorn status.

Also Read: Meet the 8 startups for the 2.0 batch of the SuperCharger FinTech Accelerator

Rafly believed that it all need to begin with fintech industry players being able to convince the government that the sector is able to bring transparency and efficiency that the public is demanding from the financial sector generally.

“The government has been doing a tremendous job in the past few months with the fintech event, increasing the e-money limit. There’s a movement form the government itself, but at the end of the day, it needs education from us for the customers, for the merchants to get the benefits of fintech,” he said.

However, Zulkifli stated if one builds a startup with the goal to achieve the unicorn status, then it is the wrong reason to build a startup.

“The main thing is what can you do to solve the customers’ pain point,” he stressed.

The post Find out the two startups that have just been crowned as FINSPIRE 2016 winners appeared first on e27.

from e27 http://e27.co/find-out-the-two-startups-that-have-just-been-crowned-as-finspire-2016-winners-20161109/