Affin Bank Innovation Challenge 2026
Powering SME growth through smarter banking
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#sme #fintechinnovation #smedigitalisation #ai #openbanking #customervalue
Challenge Timeline
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Challenge Launch
Applications open for Innovators and Solution Providers to apply through this innovation competition.
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Solution Evaluation
Remember to complete your registration by 2nd October 2026.
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Onboarding
Selected solution providers only.
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Pilot Development
8 to 12 weeks, subject to solution readiness and pilot scope.
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Commercialisation & Scale-Up
Selected solutions may have the opportunity to move forward towards integration and commercialisation subject to Affin's criterias.
Challenge Launch
Applications open for Innovators and Solution Providers to apply through this innovation competition.
Solution Evaluation
Remember to complete your registration by 2nd October 2026.
Onboarding
Selected solution providers only.
Pilot Development
8 to 12 weeks, subject to solution readiness and pilot scope.
Commercialisation & Scale-Up
Selected solutions may have the opportunity to move forward towards integration and commercialisation subject to Affin's criterias.
All timings are as per (GMT +8:00) Singapore, Beijing, Perth, Hong Kong
Organized By
Powered By
About Us
Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad and Affin Moneybrokers Sdn Bhd. Generali Insurance Malaysia Berhad and Generali Life Insurance Malaysia Berhad are affiliated companies of Affin Bank Berhad. AFFIN Group provides an array of financial products and services catering to individual, enterprise, commercial and corporate clients. The focus market segments are categorised under essential banking business units such as Community Banking, Enterprise Banking, Corporate Banking, Treasury, and Investment Banking.
MDEC Partnership
MDEC's Corporate Innovation Initiative helps MNCs, PLCs, Corporates, and Mid-Tier Companies address strategic industry challenge statements through structured innovation. We connect enterprises with high-potential technology solution providers through technology scouting, business matching, and Proof of Concept (PoC) implementation. This strategic initiative creates qualified market access, deal flow, and scaling opportunities for Malaysian fintech and SaaS platform companies across ASEAN and beyond.
Affin Bank is one of MDEC's Corporate Innovation partners in this initiative, joining a growing open innovation network of forward looking enterprises.
Problem Statements
Affin Bank Berhad is inviting innovators, fintech companies, and SaaS providers to take part in its Innovation Challenge on MyInnovationX, tackling two problem statements aimed at unlocking better banking and digital tools for small and medium enterprises.
Problem Statement #1
Embedded Banking & Fintech Innovation Challenge
SMEs face operational challenges beyond financing, including cash flow management, collections, reconciliation,accounting, payroll, and fragmented business processes. AFFIN aims to become the banking infrastructure that supports SME growth through ecosystem partnerships, embedded banking,
and open banking capabilities.
How might fintechs, SaaS providers and technology innovators help SMEs operate more efficiently, manage finances more effectively and access banking services seamlessly through embedded banking, open APIs and integrated digital solutions?
Baseline (As-Is)
Manual payment and collection processes; time-consuming reconciliation; fragmented systems; limited cashflow visibility; complex financing processes; lack of banking integration.
Desired Outcomes (To-Be)
Embedded banking experiences, real-time cashflow visibility, automated reconciliation, integrated accounting and payroll, embedded financing, AI-powered insights, API and H2H integrations.
Preferred Solution Profile
Commercially available or pilot-ready; scalable; API-ready; capable of delivering measurable outcomes; and supported by a strong partnership mindset.
Constraints
Regulatory compliance; BNM RMiT , PCI DSS, cybersecurity controls; technology readiness; scalability; integration complexity; internal approval requirements; and AFFIN’s implementation capacity.
KPIs & Evaluation
Innovation; SME impact; customer value; commercial viability; scalability; solution readiness; adoption potential; integration feasibility; and strategic alignment with AFFIN.
Stakeholders
AFFIN Bank; SME customers; fintechs; SaaS providers; technology partners; and ecosystem partners.
Problem Statement #2
SME Growth & Digitalisation Challenge
How might
technology, fintech, and SaaS providers help AFFIN’s SME customers overcome
operational challenges, improve productivity, optimise cash flow management,
and accelerate business growth through scalable and affordable digital
solutions?
Baseline (As-Is)
Manual business operations; limited business visibility; inefficient financial management; workforce challenges; disconnected platforms; low digital adoption; and limited access to suitable and trusted digital solutions.
Desired Outcomes (To-Be)
Accessible, affordable, and scalable digital solutionsacross Finance and Accounting; HR and Payroll; Sales and CRM;Payments and Collections; Operations and Productivity; Commerce.
Preferred Solution Profile
Commercially available and market-ready; scalable SaaS model; existing SME customer base; rapid deployment capability; affordable pricing; measurable business outcomes; reliable customer support; and compatibility with the needs of AFFIN and its SME customers.
Constraints
Commercial and operational readiness; affordability; ease of adoption; service and support capability; data protection; regulatory and cybersecurity requirements; scalability; and suitability for AFFIN’s SME customer segments.
Innovation Opportunities
The challenge welcomes innovative solutions that support SME growth, operational efficiency, digital transformation, financial management, customer engagement, and overall business sustainability
KPIs & Evaluation
Relevance to SME needs; solution readiness; customer value; affordability; ease of deployment and adoption; measurable business impact; service and support capability; retention potential; scalability; and compatibility with AFFIN’s customer requirements.
Stakeholders
AFFIN Bank; AFFIN SME customers; SaaS providers; technology companies; fintech partners; industry partners; and ecosystem partners.
AWARDS
Opportunity for Partnership
Grow With AFFIN RAKANIAGA
Get onboarded onto AFFIN's SME platform for free, with visibility, marketing exposure, and access to real customers.
Beyond the Challenge
Top solution providers may gain business matching, joint marketing, and pilot deployment opportunities with AFFIN.
Eligibility
The competition is open to:
- Individuals, teams, or organizations worldwide.
- Innovators from academia, startups, financial institutions, and regulatory bodies.
- Both proprietary and open-source solutions are welcome.
FAQ
Who can apply?
Anyone can apply – individuals (eighteen years and above) and enterprises (including startups) from all geographies are welcome to participate in this global challenge. Both proprietary and open-source solutions are accepted, provided that submissions which do involve proprietary software document the nature and scope of the proprietary components.
Is there a guide for how to register and submit my solution?
Please refer to MDEC Hackathon page for more details