Bosnia and Herzegovina, Croatia, Serbia

Raiffeisen Banks in Bosnia and Herzegovina, Croatia, and Serbia are organizing a regional Elevator Lab Challenge looking for fintech startups in Bosnia and Herzegovina, Croatia, Montenegro, Slovenia, and Serbia.

Your Benefits

ttThe Regional Elevator Lab Challenge Bosnia and Herzegovina, Croatia, Serbia, is part of Elevator Lab, the group-wide international Partnership Program powered by Raiffeisen Bank International. Joining the Regional Elevator Lab Challenge can be a stepping stone to scale your business case up to an international level.

By applying to the Regional Elevator Lab Challenge you will jump start your idea and receive valuable feedback from relevant industry experts with the chance to present your company among other participants.

The program is organized through local competitions in Bosnia and Herzegovina, Croatia and Serbia. Also, Fintechs from Slovenia and Montenegro are welcome to apply.

Local competition winner

€5,000 cash prize for winning the local competition
A possibility of developing a pilot project with one of the local banks
Placement in the Regional Elevator Lab final competition in Belgrade
Opportunity to integrate the innovation with the Raiffeisen Group’s banking systems and reach all 16.1 million clients
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Regional competition winner

€5,000 cash prize for winning the regional competition
Presentation of the innovation to the local startup and business community
A possibility of developing a pilot project with one of the local banks
Wildcard to the semi-finals of the global Elevator Lab Program by Raiffeisen Bank International
Opportunity to integrate the innovation with the Raiffeisen Group’s banking systems and reach all 16.1 million clients
Meeting with senior bank managers from all 3 organizing Raiffeisen Banks and Raiffeisen Bank International
Training for presenting the idea to business clients
Extensive media coverage

Abstract, EL Challenge Winner Serbia 2019

Worig, EL Challenge Winner Croatia 2019

Uhura Solutions, EL Challenge Winner BIH 2019

What we are looking for

The Program is open to fintech-startups that have at least minimum viable product ready and a committed founding team that consists of at least two roles (for example CEO and CTO).
The fintech-startups offering solutions/ technology for banks and financial services must be active in one of the following areas:

New TExt The Program is open to fintech-startups that have at least minimum viable product ready and a committed founding team that consists of at least two roles (for example CEO and CTO).
The fintech-startups offering solutions/ technology for banks and financial services must be active in one of the following areas:

Advanced Analytics & Artificial Intelligence

Voice banking, voice assistants and voice biometry for CEE languages
Intelligent character recognition/ smart document processing beyond OCR
Biometry e.g. behavior/ gesture analytics
Omnichannel analytics/ digital marketing
Citizen data science tools

RegTech

Regulatory compliancen
KYC process support & KYC depository (e.g. OCR/
RPA/ AI/ text mining)
Strong customer authentication solutions & digital ID
Transaction monitoring/ supervision
Recognition & quantification of compliance/ operational risks
Product approval tools

Large Corporates & Institutional Clients

Digital platform solutions (especially digital onboarding, workflow tools, risk limit management)
Blockchain solutions for large corporates
Digital contract management
Treasury management solutions
Data analytics for corporate payments/ trade finance activities
Predictive Sales Signal Analytics

Payments and Transaction Processing for Mobility Services

Blockchain based micro payment transactions
Multimodal (public transport) payment services
In Car payments for mobility services

Retail Banking

Financial advisory solutions incl. investment
Beyond bank advisory
Hybrid advisory (e.g. customer service)
Social banking

SME Banking

Digital SME & freelancer banking
Financial advisory for SMEs
Value added services for SMEs (e.g. payroll services, automated accounting, invoicing & expense management, cash flow tools)

Cyber Security

Third party risk management
Insider threat recognition
Blockchain use cases for cyber security
Zero trust/ dynamic perimeter

FX Solutions

Automated FX hedging solutions for small amounts
Automated FX Advisory
Multi currency account infrastructure/ e-wallets
Real time payments
Digital & Fast Account Opening for FX Spot & Hedging

If you are a fintech startup, Elevator Lab Challenge is a highly valuable experience. Validating and shaping your idea with some of the best professionals from the banking industry is one of the key things in the beginning, and this is exactly what the competition enables.

Between More about Fintech

APPLICATION PHASE CLOSED ON 10 AUGUST 2019

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Timeline

The applications for Regional Elevator Lab Challenge Bosnia and Herzegovina, Croatia, Serbia start on June 19th. Followed by an internal selection process with the aim to identify the startups with the biggest potential, each country will have local competitions in Sarajevo, Zagreb, and Belgrade. Events will be held in the last week of August and the winners from the local competitions will be invited to the Gala-event in Belgrade on September 3rd where they will get the opportunity to present their solutions in front of the international jury.