Fintech Minds Challenge: How AAIB & Untap Unlocked the Next Wave of Egyptian Fintech Talent

Egypt sits at the heart of a fintech boom: digital wallets doubled in two years, e-commerce is surging, and 72 % of adults are still under-served by traditional banking.¹ The Arab African International Bank (AAIB) saw an opening to push the ecosystem forward— but knew great ideas need structure, mentorship, and real market exposure to thrive.

That’s where Untap came in. Together, we designed Fintech Minds, a six-week innovation program that moved founders from concept to prototype and from prototype to pitch—backed by cash prizes and the prospect of piloting with one of Egypt’s leading banks. The result? Three winning startups and a playbook for turning big banking problems into bold entrepreneurial solutions.

(¹ FRA Egypt, 2024)

Individual Track

Financial advice in Egypt is still “one-size-fits-all,” ignoring each user’s income rhythms, spending habits, and long-term goals.

Business Track

SMEs face credit products and cash-flow tools built for corporates, leading to low adoption and short-lived engagement.

• Human-centred design labs run by fintech mentor Hani W. Naguib

• Live user-testing sessions with AAIB retail and SME customers

• Weekly office hours with legal, compliance, and payments specialists

• Investor-ready pitch decks reviewed by Untap’s venture advisors

Banking efficiency: Togl pilots project a 35 % cost reduction in AAIB’s retail-loan operations.

Customer trust: Mawsouq’s escrow model addresses the top barrier to e-commerce adoption—fear of fraud.

Ecosystem growth: 70 % of BootCamp teams reported forming new partnerships or securing follow-on investment within three months.

Fintech Minds proves that when a forward-thinking bank pairs with an end-to-end innovation platform, promising ideas don’t just pitch—they launch.

Ready to run your own challenge? Talk to Untap about designing a program that moves the needle for your industry. 🚀