SQR Group Ltd is proud to announce its victory as a Champion in the Isle of Man Fintech Innovation Challenge. The competition, organised by Digital Isle of Man and Finance Isle of Man, aimed to promote innovation and collaboration in the local FinTech sector. SQR’s groundbreaking solution stood out among 80 global entries and successfully met the judges’ criteria for reducing costs, automating processes, ensuring data security and complying with both KYC and AML regulations.

The finale event, held on 29th June 2023, showcased the cutting-edge solutions of 14 finalists from around the world. SQR’s Business Manager, Rebecca Glassey, and Relationship Manager, Sylwia Karch, presented the innovative digital identity and e-KYC solution to a distinguished audience comprising government representatives, regulators, and local leaders in the financial services industry.

“We’re beyond delighted to be named a Champion at the Isle of Man Fintech Innovation Challenge,” said Shelley Langan-Newton, CEO at SQR Group Ltd. “This recognition validates our commitment to providing secure, efficient, and compliant digital identity and e-KYC solutions. Our technology is designed to make the world a safer place, and winning this competition reaffirms the positive impact we’re making.

“SQR Group’s secure-by-design technology offers a comprehensive suite of features that streamline identity verification processes, reduce operational costs and enhance data security. We empower organisations to mitigate risk, improve customer experience, and remain compliant with evolving regulatory requirements.”

Tim Johnston MHK, Minister for Enterprise within the Isle of Man Government, congratulated SQR and expressed the importance of developing an innovative ecosystem on-island:

“The Isle of Man is dedicated to nurturing innovation and fostering entrepreneurship in the financial and technology sectors. Through initiatives like the Fintech Innovation Challenge, we aim to enhance our position as a global leader in digital innovation and financial services, driving economic growth, creating jobs, and attracting investment to our shores.”

Lyle Wraxall, Chief Executive of Digital Isle of Man, commended the finalists for their transformative solutions, stating, “We witnessed first-hand the transformative solutions presented by the participants, and the innovation displayed by the finalists was extremely high. The event was an exciting culmination of months of hard work and dedication, and I would like to congratulate our three worthy winners for their cutting-edge solutions that will help accelerate the growth of the Isle of Man as a thriving FinTech ecosystem.”

“The FinTech Innovation Challenge showcased groundbreaking digital solutions, very relevant for our sector,” added Michael Crowe, Chief Executive of Finance Isle of Man. “This helps to reinforce the Isle of Man as a global destination for FinTech businesses.”

SQR Group extends its congratulations to fellow winners Cygnetise and Crucial Compliance Limited for their own remarkable achievements in their respective categories.