Africa Wide

Competition

Entrepreneurship

Deloitte - RegTech Challenge Movemeback African initiative cover image

Details

The aim of the Call is to scout innovative startups that use A.I. in the RegTech environment. The best ones will join a project with some client companies of Deloitte Risk Advisory in the EMEA territory (Europe, Middle East and Africa).

Startups will need to show that they have real technological business solutions which solve regulatory requirements in the following applications of the Conduct Risk:

  1. Consumer Protection
  2. Product Governance
  3. Digital Mystery Shopping
  4. Remuneration
  5. Conflict of Interest

The challenge is divided into two phases: in phase 1 (July – November) is the application phase. In phase 2, applications will be evaluated and finalists will be selected asked to pitch in front of a panel (Evaluation Board) who will vote for the winner.

The competition is addressed to startups registered in Europe, the Middle East and African countries (EMEA), incorporated within four years from the beginning of Phase 1. These startups must be mature enough to offer a solution ready to enter the market. The startup can be registered by: Founders, Cofounders, legal representatives, shareholders, C-levels

The first evaluation after phase 1 will be conducted by EMEA Risk Advisory Managers’ experts in Conduct Risk. The final evaluation during the Pitch Day will be led by the Evaluation Board, formed by the EMEA Risk Advisory Innovation Leaders, Deloitte Regulatory and Artificial Intelligence experts

Each evaluation phase will be based on the following parameters: innovation quotient, attractiveness, feasibility, economic sustainability and scalability of the solution

Criteria

RegTech represents the use of technology to help businesses comply with regulations efficiently and inexpensively. RegTech applies to various topics of the financial and regulatory field, but in this competition, we are focused on Conduct Risk

Conduct Risk describes the risks associated with how organizations and their staff relate to customers and the wider financial markets. It covers any action of an individual bank that leads to customer detriment or negatively impacts market stability (e.g. fraudulent behaviour towards customers, misconduct in the creation and distribution of financial products, conflict of interest, incentives to sell products against customer’s best interest)

When applying, you will be asked to submit the following:

  • Project title, a description of the need that the Project would satisfy,
  • A description of the Project,
  • A selection of the regulatory topics that the Project would focus on,
  • A description of the innovative elements of the Project,
  • The definition of the technology used, the potential fields of application of the Project.
  • You must also submit the following Form attachments:
    • Presentation of the Project in pdf format (including the description of the idea, market size, team, competitive scenario, product/ service development roadmap, and the main economics as abstract of the information contained in the business plan);
    • Business plan in pdf format,
    • Copy of the Article of incorporation and the Chamber of Commerce registration

Benefits

The winning start-ups will be asked to collaborate on innovative projects with customers of some of the participating Deloitte member firm.

About Deloitte

“Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax, and related services to select clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). Each DTTL member firm provides services in particular geographic areas and is subject to the laws and professional regulations of the particular country or countries in which it operates.

Each DTTL member firm is structured in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in its territory through subsidiaries, affiliates, and other related entities. Not every DTTL member firm provides all services, and certain services may not be available to attest clients under the rules and regulations of public accounting.

DTTL and each DTTL member firm are legally separate and independent entities, which cannot obligate each other. DTTL and each DTTL member firm are liable only for their own acts and omissions, and not those of each other. DTTL (also referred to as “Deloitte Global”) does not provide services to clients.