PAP Aljunied GRC candidate Victor Lye selected for inaugural FinTech Abu Dhabi Innovation Challenge

(PHOTO: Abu Dhabi Global Market)

By Phyllis Lee

It seems that the People’s Action Party candidate for Aljunied GRC during the 2015 General Election, Mr Victor Lye Thiam Fatt, is not only interested in politics – but also financial technology.

He will be representing Beijing-based PINTECH Group for the inaugural FinTech Abu Dhabi Innovation Challenge next month.

Organised by Abu Dhabi Global Market (ADGM) and KPMG, this challenge shortlisted 11 out of 166 global FinTech companies to showcase their solutions to problem statements relevant to the financial services industry during the first FinTech Summit in Abu Dhabi.

According to ADGM, the selected participants started a five-week programme to develop and refine their proposed solutions targeted at the Middle East, Africa and South Asia region since Sunday (Sept 17).

During the summit on Oct 22 and 23, two winning companies will be selected by a panel of industry experts to participate in the Global FinTech Hackcelerator in Singapore as part of ADGM’s team.

Mr Lye entered the challenge by proposing PIVOT FINTECH, a solution that uses artificial intelligence and machine learning to bring investment management beyond human inefficiencies.

He is currently in Abu Dhabi, in the midst of preparing for the final showcase next month.