The youth reimagine fintech at GCash’s ImaGnation Competition 2023

Giselle S. Barrientos

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The youth reimagine fintech at GCash’s ImaGnation Competition 2023
The three-day case competition gathers top minds from universities around the country to pitch their ideas of a better fintech space for the youth

Editor’s note: This content is sponsored by GCash and was produced by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the production of this piece.

Technological innovation is alive and thriving among the youth, as proven by the candidates in GCash’s annual ImaGnation competition which concluded last June 2.

In alignment with GCash’s brand vision, the affair is all about incubating ideas to create inclusivity in financial technology. This year, third to fifth year undergraduate students competed in a battle of pitches on how to make GCash Jr. resonate better with the youth and their financial needs.

Innovation at full throttle

Many young innovators across the country were eager to answer the call, as over 400 students from 50 schools registered for a chance to pitch to the fintech titan’s leaders. In the end, the top 15 teams were chosen to advance. Each of these qualifying teams were then assigned a GCash mentor, who provided them with invaluable guidance on refining their ideas.

The top 15 teams were then brought on to a two-day in-person bootcamp, where they were given case development and business storytelling sessions in preparation for their final pitches. They were also able to rehearse through a mock presentation with their GCash mentors.

INNOVATORS. Out of over 140 teams who applied, the top 15 made it to the competition

By the end of the bootcamp, each team had only 10 slides and eight minutes each to impress the GCash judges and secure one of the five slots for the grand finals. After a week, the final five entered the finals with eight minutes to present and two minutes to entertain questions from the panel, which was composed of GCash’s leadership team. 

A new breed of young innovators

On June 2, the top competitors presented the best form of their cases to the final panel. Their innovation strategies were designed to address challenges they themselves pinpointed for GCash Jr.’s demographics. The inventive pitches ran the gamut of ideas – one team went the route of school engagements, another wanted to cater to families, while one attempted custom features for more targeted age groupings.

CHAMPIONS. Team G-Katip wins this year’s ImaGnation

The team that came out on top was team G-Katip, who won P60,000 worth of GCash credits and a 9th gen iPad for each member. Team FinItToWinIt finished in second place, with P40,000 in GCash credits and a Garmin Smartwatch for each member. In third place was team SynerG, who went home with P20,000 in GCash credits and each with a set of 3rd Gen Airpods. 

The fourth and fifth placers were also awarded with P15,000 GCash credits per team, and all finalists earned a secured slot in GCash’s 2023 Jumpstart internship program.

Learning beyond the competition

To maximize the potential of the ImaGnation finalists, they were awarded the opportunity to join GCash’s Jumpstart internship program – an 11-week training experience where they get to work on high-impact projects, be trained by GCash leaders, learn about the latest industry trends, and further pursue their passion for fintech. For standout interns, a full-time job opportunity with GCash may await them after graduation. 

EMPOWERMENT. GCash president and CEO Martha Sazon talks to the ImaGination innovators

“This is just the beginning. We will continue to invest in our youth’s development, through initiatives such as this innovation challenge. Thank you for helping us to make GCash even better. I hope that you will help us pursue our vision of Finance for All in your own ways,” said GCash president & CEO, Martha Sazon.

For GCash, the youth are a critical demographic to develop and invest in as they grow into the country’s next movers and shakers. With their fresh perspectives and ability to fearlessly reimagine what “normal” can be, GCash wants to equip them with the tools – as well as a seat at the table – to make these ideas the future’s realities.

Want to learn more about GCash Jr. and see finance from the eyes of the youth? Visit GCash’s website for more information. – Rappler.com

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GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 71M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only double unicorn in the Philippines. GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.