Suitebox wins global Fintech Innovation Challenge
Australia and New Zealand fintech start-up Suitebox has been crowned as the winner of KPMG's global Fintech Innovation Challenge, receiving recognition in the mobile category.
By providing users with a ‘virtual office', Suitebox allows participants to arrange meetings via video, record the meetings live as well as review and sign documents online.
Last year, Suitebox announced a series of new features to their solution with the development of a virtual financial advice offering, allowing financial advisers in Australia and New Zealand to integrate the product into their planning software.
SuiteBox chief executive, Richard Mannell, called the KPMG Fintech Innovation Challenge win a "ringing endorsement" for the growing potential of mobile virtual meetings.
"This success [demonstrates] the opportunity for truly mobile virtual meetings between professionals and their clients across many industries," he said.
Founded with the aim of promoting collaboration and innovation between fintech firms and financial institutions, KPMG's global Fintech Innovation Challenge aims to source six new innovators and then match them with multiple financial organisations.
Confirmed participants in this year's panel included: Westpac (Australia), AIB (Ireland), Bank Hapoalim (Israel), Rabobank (Netherlands), Caixa Bank (Spain), Liberty Group (South Africa), Standard Bank (South Africa) and Nationwide (UK).
The ‘Mobile Value Added Services / Mobility' category looked at tools that enable access to financial services over mobile devices, with all entries assessed against a series of set criteria that included novelty, ease of implementation, potential impact — in terms of revenue, cost or efficiency — and overall impression.
Currently, SuiteBox has over 200 companies using its product and has set its sights on expanding its influence into the UK market.
Suitebox will now present their offering, together with the other category winners, at KPMG's global FinTech Innovation Summit in London next month.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
