BoC Ηackathon fintech 3.0: Open Banking experience for developers and entrepreneurs

Depy Douros
Oct 29, 2019 · 5 min read

BoC Hackathon Fintech 3.0 was successfully held at the IDEAcy Innovation Centre on 18th — 20th October 2019.

It was attended by developers, students, startup companies, private sector executives and Bank of Cyprus executives. The number of registrations exceeded all expectations since more than 200 people and more than 15 teams participated. In the end, 14 teams presented their applications on Sunday afternoon.

BoC Hackathon Fintech 3.0 is the third marathon for the development of innovative applications in the field of financial transactions (#fintech) that has been organized in Cyprus, by Bank Of Cyprus.

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During the three-day marathon, the teams developed innovative applications related to the following thematic areas:

  • E-payment platforms, using facial recognition etc.
  • Fintech applications for businesses.
  • Fintech Applications for Social Solidarity and Social Innovation
  • Crowdfunding platforms and tools
  • Innovation in banking processes.
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Mr. Demetris Papallis, Manager IT strategy & Governance at Bank of Cyprus

BoC Hackathon Fintech 3.0 started on Friday, October 18th, with the Kick Off Meeting, when Mr. Demetris Papallis, Manager IT strategy & Governance at Bank of Cyprus, welcomed all participants and marked the beginning of the competition.

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Mr. Chris Zacharopoulos, Digital Products Architecture & Services Engineer, Crowdpolicy,

Also Mr. Chris Zacharopoulos, Digital Products Architecture & Services Engineer, Crowdpolicy, talked about the boc hackathon process and goals to all participants.

The teams worked on the implementation of their ideas, using new IT technologies, BoC APIs and BoC SDK, on a process that was carried out throughout the three-day period.

The process was supported by the mentors that participated, while the Crowdpolicy team supported the teams with the operational and technical implementation of their ideas as well as the integration of the Bank’s APIs and BoC SDK.

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Mr. George Tzortzis, Chief Executive Manager at Bank of Cyprus, Mr. Demetris Papalis, Manager IT strategy & Governance at Bank of Cyprus, Mr. George Koussis, Manager IT, Mr. Demetris Nicolaou, Digital Transformation Manager at Bank of Cyprus, Mrs. Angela Panayiotou, Manager Idea Innovation Center at Bank of Cyprus, Mr. Konstantinos Botsaris, Senior Manager, Management Consulting Department and Mr. George Karamanolis, Co-Founder, CTO/CIO participated in the hackathon as members of the evaluation committee.

The teams presented their applications on Sunday, October 20th, at 16:00. The applications developed were related to electronic payments, token securities, payments via Facial Recognition, microloans, digital checks, ERP and APIs integration, analytics, robo-advisors and Credit Scoring, physical assets securities with blockchain and smart contracts.

The Winners

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1st place and 6.000 euros

Mr.Bill:

A new BankToBank payment method for users paying their bills from any vendor. Vendors can get on board with zero technical configuration. Also, the platform can be used as an e-Banking integration product for charitable donations on uprising or serious causes.

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2nd place and 4.000 euros

Vasilkoff

SmartWallet is a system that links traditional banking and electronic contracts. This contracts provide a cheaper, faster way for businesses and individuals to get access to a wide variety of financial services. Most importantly, all this is absolutely consistent with the laws of Cyprus today.

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3rd place and 2.000 euros

FinRobot

FinRobot is a crowdfund-enabled asset management platform that allows for increased liquidity and creation of cash-flow inflows from non-liquid assets of banks, addressed to micro-investors.

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Best Implementation Of Cyprus‘ Public Data Sets in Combination With BoC APIs Prize and 1000 euros

Κoshiaris

An online auction system with live account balance and live payments with bank API for motors and real estate + eLoan + PVS system. This application can be used from banks or standalone.

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Here are the teams and the ideas of Boc Hackathon Fintech 3.0

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Maliblo

Pay your utility bill by taking a photo of it! Future ability to be implemented as an API and potential to provide a standardisation model in the future.

Envisioners

FinHash platform aims to give the ability to 3rd party companies, to build web applications for managing any kind of expenses and assets on top of the exposed API, and perform recurring payment tasks in a safer way.

Slim Technologies

Zaapy is a credit score system where we plan to implement the data from existing organisations to provide our customers data centric risk assessment

0xGG

A decentralized platform where p2p loans can be executed using virtually any principal and collateral pair.

Ease

The users of the application make payments in the blink of an eye (quite literally), using ML face recognition and blink detection all via cheap POS machines.

Nodes & Links

A cloud based web app that converts scanned invoices into electronic form using the latest machine learning offering from AWS. The web app also allows the users to perform B2B payments based on the analysed invoices.

Pepe Buro

A marketplace where retail investors can trade with their BoC accounts either by themselves or with proposed algorithms. Crowdfunding investments.

Fasouli — Fasouli

A system that facilitates crowd funding through micro-donations for satisfying the needs of non-profits and their causes.

Ebotname OTO

A Chatbot that provides better customer support, a new sales channel, and lower banking operational costs.

FinRobot

FinRobot is a crowdfund-enabled asset management platform that allows for increased liquidity and creation of cash-flow inflows from non-liquid assets of banks, addressed to micro-investors.

TBD

An E — Banking integration product for charitable donations on uprising or serious causes.

The crowdpolicy collection in English.

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