May 30th, 2022

AIFC Tech Hub jointly with Mastercard announces search for sustainability startup solutions

NUR-SULTAN. KAZINFORM The AIFC Tech Hub and International Payment System Mastercard invite startups from CIS countries and abroad to take part in Mastercard Sustainable Banking Challenge within the international forum Astana Finance Days 2022. The main goal of the competition is to encourage Kazakhstani banks to cooperate with the best fintech teams, develop sustainable banking, and manage a wide range of ESG risks, the AIFC’s official website reads. The main directions of the competition are financial inclusion, including financial literacy, development of solutions for self-employed and individual entrepreneurs, etc.; green banking, including carbon footprint tracking, paperless banking, development of green habits among clients; internal sustainable development, which involves automation of internal processes, cybersecurity, anti-fraud, etc. «We believe that fintech can help ensure a sustainable and inclusive recovery in the post-crisis period. Society, regulators, customers, and investors expect the financial industry to play an increasing role in addressing current and long-term sustainability challenges. These include equal access to financial services, environmental and climate change issues, corporate governance and social responsibility, transparency and accountability, diversity, and inclusiveness. That is why this year we decided to support exactly these areas and expect to receive very interesting proposals for the contest,» said Rafal Trepka, General Manager of Central Asia at Mastercard. «Development of open innovations in the banking sector of Kazakhstan is one of the priorities of the AIFC Tech Hub, so we were glad to initiate the contest together with Mastercard. Especially, the contest is focused on sustainable banking solutions and ESG-initiatives, which are now actively gaining momentum in our market and will have a positive impact on the sustainable development of the whole country. We are grateful to Mastercard and the partner banks of the competition for their proactive support of such an important topic,» said Bekzhan Mutanov, Deputy CEO of the AIFC Tech Hub. The AIFC Tech Hub will conduct technology scouting of solutions in the areas chosen by partner banks and together with representatives of banks and Mastercard experts will select the best startups, which will have an opportunity to find new customers and launch sales in the Kazakhstan market. Participants of the competition - startups will have the opportunity to launch a dense project with one or several partner banks (up to $10 thousand) with expert support from Mastercard, to scale the successful pilot in the market of Kazakhstan, to participate in the pitching of finalist teams at the Mastercard session at the international forum Astana Finance Days 2022. The partner banks of the competition are Eurasian Bank, Forte Bank, and Jusan Bank. Please click here to learn more and apply: Reference: The Astana International Financial Center (AIFC) is an independent jurisdiction launched in 2018. In accordance with the Development Strategy till 2025, the key task of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia, and the Caucasus. The AIFC Tech Hub is a subdivision of the Astana International Financial Center (AIFC), whose task is to promote the development of the startup ecosystem, venture industry market, e-commerce, corporate innovation, and new technological areas in Kazakhstan (FinTech, GovTech, SatelliteTech, Industry 4.0., etc.). Together with international partners, The AIFC Tech Hub conducts programs to support market players, as well as facilitates the structuring of venture deals and testing of new fintech solutions within the regulatory sandbox of the AIFC jurisdiction. Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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AIFC Tech Hub jointly with Mastercard announces  search for sustainability startup solutions