Innovation Challenge winner joins Isle of Man's fintech ecosystem

The winner of the Fintech category during this year’s Innovation Challenge is set to become the latest business to benefit from the support provided by the Isle of Man Financial Innovation Hub (FIH).

Umazi, which offers software solutions aimed at speeding up corporate identity verification, has entered the FIH Observatory coordinated by the Department for Enterprise’s Digital and Finance Agencies, and the Isle of Man Financial Services Authority.

The collaboration is intended to encourage the growth of fintech innovation in the Island by providing appropriate pathways for firms to develop their propositions. The FIH acts as a single point of entry to access to the Island’s innovation ecosystem by connecting firms with the Isle of Man Government and financial services regulator.

The initiative is a key part of efforts to embrace innovative new products, services and solutions while ensuring an appropriate level of compliance and consumer protection.