You’re invited to participate in the World’s First Global Open Banking Hackathon #OpenBankathon

My employer Capgemini has announced a Global Open Banking Hackathon to run December 8-10. This will be a virtual event, which means it’s open to everyone. The scope of the hackathon will be to create new digital innovations for customer experience, new revenue models, new products or services for banks, improvements to current products or services. The list is limited only by imagination. Open Banking is the use of Open APIs that enable third-party developers to build applications and services around the financial institution. Legislation like the revised Payment Services Directive, known as (PSD2) in the European Union aims to promote the development and use of innovative online and mobile payments through open banking (Wikipedia).

How can you participate?

  1. You’re free to form a team up to 4 people and register for the hackathon.
  2. Maybe you want to be mentors to the participating teams. Mentoring will take only 2-3 hours over the next 5 weeks to help teams flesh out use cases or design.
  3. You can be on the judging panel. Judges can see all solutions, but will have to make the morning of December 10 available for a few hours (between 7:00 am and 11:00 am EST).
  4. You may like to submit any challenge use cases for the participating teams to try out.

What’s in it for you?

The hackathon is virtual so the competition is worldwide! Coding weekend is from December 8th to 10th. Besides a weekend of coding with teammates in modern tech environments, interaction, and a focus on working solutions, there are over $10,000 in prizes to win. Prizes will be sent by e-gift cards to the winning team. Each team will nominate one person to receive the prize. Prizes will be given to the top 3 use cases that are demonstrated. Prizes will also be given for specific challenges posed by clients, partners, and Capgemini.

What technology stack is used?

The environment provided to teams will be a combo of Amazon Web Services (AWS cloud platform, Alexa, etc.), Mulesoft (API and BPM) and Temenos (core banking data), but participants are free to use any other complementary technology as needed.

Capgemini will be conducting several online sessions from Nov 28 to Dec 7 on AWS, Temenos, MuleSoft, etc. so that participants can be effective during the hackathon. They will also have tech mentors available during the hackathon who will help teams if they have questions.

The event does not lay any claim to the work that clients do. So the IP will be governed by the client’s policies.

Why’s an event like this so important? Watch the video