Participate In Fintech Open Hackathon By NITI Aayog & PhonePe

NEW DELHI: As part of Fintech Open Month, NITI Aayog, in collaboration with PhonePe, will hold the first-ever open-to-all Hackathon event for brainstorming and developing the most innovative FinTech ideas. The Hackathon will allow innovators, digital producers, and developers from throughout India to think, ideate, and code.

Participants in the hackathon must employ any open-data APIs, such as PhonePe Pulse, as well as frameworks, such as Account Aggregator, as a foundation to power the following use cases:

• Alternate risk models for Lending, Insurance or Investments with focus on financial Inclusion
• Innovative Products that use the power data signals for various demographics and Geos for broader adoption of financial services
• Improved Visualisation and Derived intelligence based on the Digital payments data
• The final app that participants come up with must incorporate one of the above. 

Participating teams can comprise of one (solo) person or as many as five (five) people. Participants can supplement their contribution with data from sources such as PhonePe Pulse, the Open Government Data Platform, and RBI payment reports. They can also use any other open data platforms they are aware of, in addition to the Setu AA Sandbox or the Setu Payments Sandbox, to create their hacks. Participants will be asked to deliver a functional prototype of their hack to the judges by the end of the event, after which each hack will be scored based on specific parameters. While the courts are deliberating on the hacks, they may request more information about the prototypes.

The winning teams will get exciting prizes:

The top 5 hacks will be awarded a prize money in the following denominations:

1st place : INR 1,50,000 for the team – 1 prize

2nd place : INR 1,00,000 for the team – 2 prizes

3rd place : INR 75,000 for the team – 2 prizes

The deadline to register for the event is 11:59 PM on February 23rd, 2022, and the deadline to submit final entries is 12:00 noon on February 25th, 2022. There will be a live AMA on Monday, February 21st, 2022 at 4:00 PM to answer any questions concerning the Hackathon that participants may have. The Hackathon winners will be announced on February 28th, 2022.

To register and get more details visit: https://cic.niti.gov.in/fintech-open-month-hackathon.html

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