Hackathon participants on a clear mission
Finance Innovation just concluded its second Hackathon in Oslo, in collaboration with Oslo Fintech Hub and TheFactory. Thirty participants worked around the clock to come up with solutions to revolutionize the world of finance.
Great ideas through unexpected connections
With less than 30-hours at their disposal, we challenged thirty Hackathon participants to come up with solutions that could revolutionize the world of finance through simplification, visualization and new combinations of data.
To provide the participants the right dose of inspiration, we kicked it all off with engaging presentations from Finance Innovation and Sparebanken Vest. DnB and Nordea presented their respective companies APIs which were provided during the Hackathon. UX developer in Zeipt, Bjorn Reitzer, gave a short and useful intro to rapid-prototyping.
Five teams were formed after a brainstorming session led by Simen Armond, Finance Innovation and Eirik Eidem, Sparebanken Vest. The teams consisted of a diverse set of people from start-ups, universities and professionals from the financial and tech industry.
"Its about unusual connections. We had a melting pot of great people coming together here in Oslo. It was safe to say that we would be seeing many great ideas pitched." says Simen Armond.
With a limited time frame the teams managed to come up with a broad spectre of solutions and tackled problems and challenges from various angles. Their solutions were evaluated by criteria’s such as user potential, prototype, level of innovation, commercial potential and x-factor.
After five impressive pitches, it was evident that all five teams had worked hard to create innovative solutions they saw a need for in the market. The solutions varied from a savings-app for children, strengthening refugees financial position, peer-to-peer lending solutions, API-platforms and trading with robots.
Winning Team: MeshBot – making developers awesome.
Markus and his team created an API builder that makes it easier for you to make your own endpoints with data from one or several existing APIs, even adding the ability to receive data in real-time. MeshBot's mission is basically to make developers even more awesome.
Great ideas with "finpact"
The jury was impressed by all the diverse solutions which addressed various challenges and opportunities in the fintech industry.
Orbia - teaching kids about economics and how to save.
The team of six in Orbia created a gaming app designed to develop children's insights into financial well-being as they spend, save and invest within the game. The Orbia application would be linked to a child's debit card. Banks will have the opportunity to develop relationships with a large number of potential future customers; kids. The jury awarded the team with the best prototype in the Hackathon.
When asked how the Hackathon experience was the teams response was: Fun, exciting and challenging. "Trying to create a good concept during such a short time was quite challenging, but we are quite proud by the fact that we managed to make a good business plan and create a prototype to show." says Winnie Wold.
"One can never know how the team will turn out, especially when all of us were strangers to one another. However, we quickly learned that we had a great team and that the team dynamics was unexpectedly good match. We all came from different backgrounds and I think that was our strength." says Vivek Ayer.
The team included Winnie Wold, Elisabeth Wold, Vivek Ayer, Henrik Skogstrøm, Tan Xue, and Erik Germundson.
Refuel by PEWRY: a team on a mission
What happens when PwC and EVRY team up during a Hackathon? Well, PEWRY happens. The team had a clear mission to strengthen the financial position for refugees, by giving refugees a chance to build up a data trail in order to create financial credit-worthiness. The jury were impressed by the teams solution and its' level of social impact.
The team was intrigued by the lack of existing solutions to help refugees financially and wanted to tackle the difficulties refugees experience when trying to borrow money to start up a business due to banks traditional evaluation check-points.
Nornir - trading with robots
Team Nornir created a platform for trading IoT data. They wanted to create value for individuals generating data and companies that aggregate and add layers of data. They are already up an running, check them out.
Better Finance - peer to peer lending
The team of four created a solution to enable peer to peer lending for refinancing mortgages for people who are not eligible for refinancing in banks at the moment. One of the team members, Marius Matula
Marius Matula has been passionate about this for a long time and is currently running iQonomi
"I am really impressed by the diversity of ideas and how the participants with their diverse backgrounds were able to develop these ideas in such short time. It is inspiring." says Simen Armond in Finance Innovation.
Innovation at its best
“This is innovation and I’m impressed. Combining personal economy with your environmental footprint is something I haven’t seen before. A service that helps me improve my personal economy whilst at the same time helps me make environmentally conscious purchases. That’s something that has potential!” says jury member Eirik Eidem from Sparebanken Vest.
Finance Innovation's Fintech Hackathon in Trondheim
If you were not able to join us in Bergen or Oslo, then we hope to see you in Trondheim 28-29 August.
Check out more photos from Finance Innovation's Hackathon in Bergen: