📌About the Event

The Financial Services Innovation Challenge 2026, organised by Sahamati as part of SamvAAd 2026, invites innovators, startups, fintechs and financial institutions to showcase practical solutions powered by Open Finance data. The challenge focuses on solutions that improve financial access and customer outcomes, strengthen institutional infrastructure, or demonstrate how emerging financial data sources could enable the next generation of financial services.

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ℹ️ Event Details

• Part of: SamvAAd 2026 – India Open Finance Summit
• Organiser: Sahamati Foundation
• Innovation Challenge Partner: IIIT Delhi (IIITD).
• Mode: Multi-stage challenge with online application/submission, followed by judging and an in-person live showcase for selected winners at SamvAAd 2026, Grand Hyatt Mumbai.
• Main themes:
• Expanding Financial Services Access – customer-facing solutions improving access, inclusion and financial outcomes.
• Engineering the Financial Backbone – B2B solutions improving risk, compliance, operations and institutional decision-making.
• Imagining the Next Data Layer – future-looking solutions using emerging data sources such as EPFO, GSTN, CBDT, BSE/NSE and corporate accounts.

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📅 Important Dates

• Applications Open: 1 August 2026
• Submission Deadline: 15 September 2026
• Shortlisting by Sahamati: 20 September 2026
• Presentations to Judges: 21–25 September 2026
• Results Announcement: 28 September 2026

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🎯 Eligibility & Rules

• Eligibilty:
• Banks and other regulated financial entities
• NBFCs
• Fintech companies
• Insurance companies
• Asset management companies
• Account Aggregators
• Technology Service Providers
• Startups
• Individual innovators.
• Solutions can be at the prototype, MVP/pilot or live-product stage, depending on the chosen theme.
• Participants must demonstrate meaningful use of financial/Open Finance data.
• The submission must include:
  • Problem statement and target users
  • Innovation and differentiation
  • Use of financial/Open Finance data
  • High-level technology architecture
  • Development stage
  • Expected or demonstrated impact
  • Testimonials for live products
  • Product video of maximum 3 minutes

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🏆 Benefits for the Participants

• Total Winners: 6
• Prize Money: ₹1,00,000 for each winner
• Total Prize Pool: ₹6 lakh
• Selection: 2 winners across each of the 3 themes.
• Winners receive visibility across SamvAAd and the Open Finance ecosystem.
• Selected teams get an opportunity to present/demo their solutions to senior financial-sector delegates and ecosystem stakeholders.
• Winning solutions will also be showcased live during SamvAAd 2026.