Egypt's Financial Authority Launches Contest for COVID-19 Solutions
The Financial Supervisory Authority is launching a contest for startups and companies to submit new tech solutions to help the non-banking financial sector through issues caused by COVID-19.
As the Ancient Romans probably once said, if you can't beat it, hire someone else to beat it for you. The Financial Supervisory Authority started a contest with the Central Bank of Egypt and DFS Lab - a company dedicated to sending out venture scouts to support emerging digital startups throughout Africa - to find new tech solutions for all the problems COVID-19 has caused for the non-banking financial sector. Throughout March, startups and companies across the country are encouraged to submit financial technology solutions to resolve such issues as the ability for non-banking financial institutions to coordinate with their clients, resource management, and remote working during the pandemic. The new technology this contest might find is hoped to result in long-term change in the industry.