RBL Bank hosts grand finale of Hackathon

Bengaluru, July 25, 2017: RBL Bank, one of the country’s fastest-growing private sector banks organised the grand finale of Hackathon — a solution development programme for banking and financial services.

TheHackathon encouraged participants to envision trailblazing solutions by using adiverse set of Financial Services APIs available across various forums,including RBL Bank. The event received overwhelmingresponse with 217 teams submitting their innovative ideas across the country.Sixty-one teams were shortlisted and 21 teams presented their demos to the juryat Bengaluru and Mumbai in the final round. These ideas were evaluated byexperts who handpicked 11 teams for the final presentation. 

Following are the winners of the first-ever RBL BankHackathon under the RBL Bank ilabs initiative: 

1)Team Evee (Winner) - A contextual voice andtext-based conversational smart assistant which can understand the context ofpayment and seamlessly initiate payment using the RBL Bank payment APIs, UPIand BBPS frameworks. 

2) Team Seven (1st Runner-up) - Newentrant in the wearable space ‘A NFC Ring’ uses RBL Bank API’s to make payment.Proposed as a replacement for RBL Bank debit card. 

3) Team neoEYED (2nd Runner-up) -With the motivation to ‘Kill the password’, AI-driven startup created analgorithm which understands human behaviour of phone usage and even the walkingpattern to authenticate login as well as financial transactions on any digitalchannels. 

The winners were awarded cash prize of Rs 10 lakh,benefits worth Rs. 3.4 crore, including consultancy hours with PwC, IBM BluemixCredits, USD 100 promotional credit from AWS Activate, membership of91springboard hubs and Apple MacBook Air by NetMagic. One of the finalists mayget an opportunity to co-develop a proof of concept with Infosys Finacle andthe potential opportunity to work with RBL Bank. 

Speaking at the finale, Sanjay Sharma,Head - Technology, Innovation and Customer Fulfillment, RBL Bank said, “We envisionRBL Bank as an innovative, smart and future-first bank, leveraging latesttechnology to bring in a paradigm shift in the banking sector. There is a needto build a new ecosystem in partnership with fintech companies rather thantreating them as competitors. We feel that programmes such as Hackathon andStartupBootCamp will play a significant role in simplifying the partnershipbetween RBL Bank and fintechs.” 

The RBL Bank Hackathon was supported by IBM - platformpartner, Microsoft - technology partner StartupBootcamp and National PaymentsCorporation of India - payment partner. Other partners includedPricewaterhouseCoopers, 91 Springboard, Amazon Activate, NetMagic,Infosys-Finacle, Digital Ocean, India Startup Club – RBL Bank and 10000 StartUp NASSCOM initiative.


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