Visa Everywhere Initiative (VEI) is a global innovation program where start-ups aim to solve payment challenges of tomorrow and enhance their product propositions to provide visionary solutions for Visa's vast network of partners.

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In the first challenge round, three of the nine shortlisted fintechs will present their solutions to improve the digital customer onboarding experience and will be scored on two key parameters- proposed solution and the company. The participants will be evaluated by an esteemed panel from Visa and industry comprising of:

Cietan Kitney, Head of Products & Solutions, Asia Pacific, VISA

Arvind Ronta, Head of Products & Solutions, India and South Asia, Visa

Parag Rao, Country Head – Payments Business & Marketing, HDFC Bank

Anurag Sinha, Co-Founder & CEO, FPL Technologies

Latha Venkatesh, Executive Editor, CNBC-TV18

The first of the three finalists solving for digital issuance is IndiaLends

which provides touchless personal loans and line of credit with low interest rates tailored to one’s credit score. The second finalist Quantific specialises in digitalising user journeys by providing applications powered by machine learning and image processing, helping reduce the cost of acquisition in the lending business. The third contender for the first challenge is Phi Commerce, an omni channel payments platform which processes integrated payments across online, offline & doorstep channels.

The winner of this challenge will be selected based on their solution’s efficacy to activate inactive cards in India and providing access to alternative lending, winning a prize money of Rs. 7,00,000 for their innovative solution.

This is a partnered post.