Main digital funds platform PhonePe on Thursday introduced that NITI Aayog, in affiliation with the platform, will probably be internet hosting the first-ever open-to-all hackathon that goals to showcase path-breaking options for the fintech ecosystem.
The Hackathon will present a chance for innovators, digital creators and builders from throughout India to suppose, ideate and code.
Successful groups stand to win thrilling money prizes value Rs 5 lakhs, the platform stated in a press release.
contributors on the hackathon want to make use of any open-data APIs like PhonePe Pulse together with frameworks akin to Account Aggregator as a basis to energy the use circumstances, akin to alternate danger fashions for lending, insurance coverage or investments with a deal with monetary inclusion; progressive merchandise that use the facility information indicators for numerous demographics and geos for broader adoption of monetary providers; improved visualization and derived intelligence primarily based on the digital funds information.
Collaborating groups can have one or as much as 5 contributors. They’ll use information sources like PhonePe Pulse, the Open Authorities Information Platform and RBI reviews on funds to construct on their submission.
As well as, they’ll entry every other open information platforms that they’re conscious of together with the Setu AA Sandbox or the Setu Funds Sandbox to develop their hacks. By the top of the occasion, contributors will probably be required to current a working prototype of their hack to the judges, put up which every hack will probably be judged primarily based on sure parameters.
Whereas the judges contemplate the hacks, they may ask for extra data on the prototypes.
The successful workforce will probably be awarded Rs 1,50,000. Two groups, in second and third locations, will win Rs 1 lakh and Rs 75,000, respectively.
Nonetheless, PhonePe talked about that judges might determine to award fewer or extra prizes relying on the hacks submitted.
The final date to register for the occasion is February 23 and the deadline to submit the ultimate entries is February 25 by midday.
There will probably be a dwell AMA on February 21 at 4:00 PM to reply any questions the contributors might have in regards to the Hackathon. The winners of the Hackathon will probably be introduced on February 28.
The NITI Aayog fintech month commenced on February 7 and the week witnessed some thought-provoking keynotes, in-depth hearth chats, and panel discussions.
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