SWIFT launched the Innotribe Startup Challenge 2012, a year-round competition that will introduce financial industry decision makers and early-stage investors to the innovations and emerging companies that are poised to transform the industry.

This year’s challenge is expected to attract hundreds of startups and later-stage innovators from around the world. For the first time, the challenge will include three regional showcases in the United States, Asia, and Europe. Dozens of startup industry professionals will select the 15 most compelling companies in each region to present to the world’s most influential financial institutions at Sibos—SWIFT’s annual conference—in Osaka in 2012.

Kosta Peric, head of innovation, SWIFT says: “The Innotribe Startup Challenge is an unparalleled opportunity for the young, most innovative parts of our industry to engage with senior decision makers from financial institutions and early-stage investment firms. Bringing innovators and investors together to help create and promote products that the whole industry can benefit from is exactly what Innotribe is all about.”

The Innotribe Startup Challenge is open to both startups and later-stage companies delivering technology-based innovations in financial technology, financial services, and related fields. To be eligible, startups must have a working prototype and less than $1 million in revenue or investment. Later-stage companies must introduce innovations that are still under the radar.

In 2011, over 200 financial technology and service start-ups applied to the Challenge.

This year’s Regional Showcases will be held in New York on Feb. 8, Bangkok in April 2012, and Belfast in June 2012.

http://www.swift.com/news/press_releases/SWIFT_starts_search_innovation