Main digital funds platform PhonePe on Thursday introduced that NITI Aayog, in affiliation with the platform, might 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 possibility for innovators, digital creators and builders from throughout India to suppose, ideate and code.
Profitable groups stand to win thrilling money prizes value Rs 5 lakhs, the platform stated in a press release.
Individuals on the hackathon want to make use of any open-data APIs like PhonePe Pulse together with frameworks equivalent to Account Aggregator as a basis to energy the use instances, equivalent to alternate threat fashions for lending, insurance coverage or investments with a give attention to monetary inclusion; modern merchandise that use the facility knowledge alerts for varied demographics and geos for broader adoption of monetary providers; improved visualisation and derived intelligence primarily based on the digital funds knowledge.
Collaborating groups can have one or as much as 5 members. They’ll use knowledge sources like PhonePe Pulse, the Open Authorities Knowledge Platform and RBI studies on funds to construct on their submission.
As well as, they’ll entry every other open knowledge platforms that they’re conscious of together with the Setu AA Sandbox or the Setu Funds Sandbox to develop their hacks. By the tip of the occasion, members might be required to current a working prototype of their hack to the judges, submit which every hack might be judged primarily based on sure parameters.
Whereas the judges think about the hacks, they may ask for added info on the prototypes.
The successful workforce might be awarded Rs 1,50,000. Two groups, in second and third locations, will win Rs 1 lakh and Rs 75,000, respectively.
Nevertheless, 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 might be a stay AMA on February 21 at 4:00 PM to reply any questions the members might have concerning the Hackathon. The winners of the Hackathon might 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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