BoC Hackathon Fintech 2.0 was successfully held at the Bank of Cyprus Cultural Foundation on 26-28 October 2018. It was attended by young developers, students, startup companies, private sector executives and Bank of Cyprus executives. The number of entries exceeded all expectations since more than 250 people and more than 15 teams participated. 17 teams presented their applications on Sunday afternoon.
During the three-day competition, the teams developed innovative applications related to the following thematic areas:
- Innovation in banking processes.
- Fintech applications for businesses.
- Fintech Applications for Social Solidarity and Social Innovation.
The evaluation committee selected the following teams to be awarded:
The Sapiens team won first place and the 1st prize of € 6,000. The team presented an application for performing daily transactions though the interconnection of multiple banking institutions and the execution of transactions using the transferwise platform.
The Saturn Digital team won second place and the 2nd prize of € 4,000. They presented an electronic ordering system using the Bank of Cyprus API. The prize was awarded by KPMG Cyprus, a major sponsor of the event.
The Trustwise team won third place and the 3rd prize of € 2,000. They presented a peer-to-peer loan application using Blockchain technology to secure transactions.
The Pepe Burro team won the 4th prize for the best API implementation. They presented a B2B short-term lending platform with the main goal of achieving business liquidity.
Moreover, the Bank of Cyprus decided to award an extra € 1,000 to the two teams of students that participated in BoC Hackathon Fintech 2.0. The Payflow team, which consisted of students up to 17 years of age, presented an application that facilitates transactions between people in third world countries who do not have direct access to ATMs via SMS. The PintFin team presented a financial tool using Machine Learning.