Main picture (from left): Zane Pritchard, Head of Compliance and Operational Risk UBS APAC, Vice President of Sales and Channels (APAC) at Tookitaki Sagar Sinha, Sedicii CEO Rob Leslie, Solidatus co-founder Phillip Miller

SINGAPORE (Oct 10): In February 2017, Solidatus was launched as a tool to help organisations accelerate their daily tasks. But, as time went by, co-founder Phillip Miller realized that it could have a much greater impact on the industry. 

After two years of meticulous testing and sourcing for partnerships, Miller’s efforts have finally come to fruition: Solidatus on Thursday clinched the top spot in the UBS Future of Finance Challenge 2019 in Smart Risk Management, taking home US$20,000 ($27,600).

Secure data sharing startup Sedicii came in second, while Tookitaki, an anti-money laundering transaction monitoring startup, came in third. 

Delivered in collaboration with Deloitte and innovation agency 100%Open, the challenge invites fintech startups and tech entrepreneurs around the world to present their ideas and solutions in a global competition. 

The final round of the challenge on Oct 10 saw seven finalists gather to present their top solutions in the field for the industry. 

UBS co-head of wealth management for Asia Pacific August Hatecke says, “In today’s complex and increasingly digital business environment, risk management is at the core of what we do.”

In his pitch, Miller identified how IT in general was an expensive area. However, he stressed that companies’ interfaces did not have to be complicated. Instead, he says these should be easy to use in order to increase the efficiency of companies in terms of productivity and cost. 

As such, Solidatus came up with a one-stop tool that enables an organisation to quickly build a corporate map of their data flows by sharing and delegating relevant portions to key data experts. 

Not only does it allow companies to build models rapidly, it also allows them to share the models in an interactive read-only view with anyone in the organisation. 

Moving forward, Solidatus will be using this as a stepping stone to further develop and test its ideas through UBS’s global reach and banking expertise.