Local entrepreneurial organization NXTUS Inc. has whittled a field of nearly 100 applicants to eight finalists for its next financial technology pilot competition.
The organization’s NXTSTAGE arm will hold an innovation showcase featuring the finalists on Sept. 14 at Distillery 244 in Old Town.
But similar to its previous pilot contests, work is already under way to connect the startup contestants with potential local customers.
“Innovation is driving the banking industry, and it’s invigorating to see Wichita play a key role through NXTSTAGE,” Matt Michaelis, CEO of Emprise Bank, said in a press release. “We are thankful eight promising fintechs are finalists this year and we look forward to engaging with them. Collaboration with startups like this is critical to Emprise’s efforts to continually empower our customers by delivering more personalized and relevant experiences.”
Emprise has awarded three pilot projects through NXTSTAGE since 2020.
The program’s other banking partners that helped curate the finalist group include Intrust Bank and Fidelity Bank.
“Collaborating with the startups spotlighted by NXTSTAGE connects us to the solutions that are creating better experiences for consumers and more secure banking relationships,” says Aaron Bastian, CEO of Fidelity Bank. “We are proud to help show the world that Wichita is a hub for turning ideas into viable, scalable businesses that elevate the entire sector.”
NXTUS says the finalists were chosen from a pool of 94 applicants from 27 states and 13 countries. Those finalists are:
• Agora Services — A New York-based startup that helps banks build out their fintech offerings with its white-label digital tools.
• Array — A New York-based startup that helps bank embed fintech tools to boost customer engagement.
• Boss Insights — A Toronto-based startup that provides fintech tools for banks to use in conjunction with small and medium-sized business clients.
• ComplYant — A Los Angeles-based startup that provides digital tools for business taxes.
• Maxwell — An Omaha-based startup that provides digital tools for workforce attraction and retention.
• Photon Commerce — A San Francisco-based startup that helps automate standardized data for finical institutions.
• upSWOT — A Charlotte-based startup providing digital tools to help banks expand engagement with business clients.
• V2verify — An Omaha-based startup that helps replace login passwords and challenge questions with voice recognition tools.
Registration for the September pitch event is now available online.
The NXTSTAGE fintech contest is also supported by Ewing Marion Kauffman Foundation and Greater Wichita Partnership.
“This program puts Kansas at the front of the innovation pack as early adopters of tools to improve identity verification, prevent fraud, cultivate customers from underserved community segments and provide enhances services to their small-business customers,” says Mary Beth Jarvis, executive director of NXTSTAGE.
The organization’s fintech pilot competition last year landed a partnership with Emprise for Cedar Credit Builder of Sioux Falls, which helps consumers with little or no credit boost their score with automated lending and repayment on small-scale credit lines.
A similarly recurring competition geared toward healthcare culminating last month resulted in 22 pilot projects and 13 potential partnerships.
