Banks reverse-pitch to solve challenges

Banks reverse-pitch to solve challenges

Members of the fintech community gathered in Sydney in February for Australia’s first banking reverse-pitch event.

Hosted by Fintech Australia, in partnership with 1835i, ANZ, Westpac and Investment NSW, the initiative provided a platform for local and global companies to support the Australian banking and finance sector.

ANZ and Westpac are seeking innovative businesses, including start-ups and scale-ups, to provide solutions to specific challenges they have identified. 

On the list is the challenge of helping homeowners to improve their home’s sustainability.

Specific considerations Westpac wishes to address in solving this challenge include: helping owners clearly understand their home’s sustainability performance and climate resilience; alignment with national energy rating schemes; clear and affordable action plans, highlighting costs and benefits; quantifying potential efficiency savings or increases in home valuation; offering proven home sustainability performance improvement solutions and incorporating Australian government rebate programs to offset costs.

Westpac expects that partner solutions would be distributed to end customers through digital channels while ensuring compliance with Australian standards and regulations.

The banks are also seeking solutions to: help customers reduce cybersecurity risks in international payments, reduce fraud and scams for Australians and, support climate change adaptation for businesses.

Proptechs which may have solutions to the pitch challenges are encouraged to present solutions to the banks by March 20, 2024. 

Problem Statement documents outlining the briefs, along with a recording of the pitch presentation event, are available for download.