What is the B40 Challenge?
Financial Innovation Lab Malaysia, funded by the MetLife Foundation, is running the B40 Challenge to find solutions that could drive usage of financial services by lower and middle income customers in Malaysia (or the B40 population) beyond access to bank accounts.
18 teams from fintech start-ups are working with UNCDF to develop and refine innovative new solutions. They’re attending Bootcamps to learn and apply the design thinking process, working with our mentors and partners from Bank Negara and MDEC amongst other companies, and engaging in our online community of practice.
Our first Innovation Challenge culminates in a Demo Day at MyFinTech Week on the 19th June. Watch the top five teams pitch their solutions to a panel of world-leading finance and technology experts. Join us at FinTech week to see which three teams will be selected to receive long-term support from UNCDF to commercialize and scale-up their service.
Who are the B40?
There are 15 million people in Malaysia who are financially vulnerable, an unexpected cost might spell financial disaster for them, but they aspire to more. They want to build businesses, invest in their children’s education, and prepare for their old age. To do so they need digital financial services built to fulfill their needs and preferences.
What’s happening now?
Follow the teams progress on our blog and social media channels.
*Timeline is subject to change. This website will be kept up to date.
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