One of Nigeria’s leading financial institutions, FirstBank is set to hold its first ever ‘Innovate Hackathon Challenge’. The 2-day hackathon scheduled for October 11 – 12, 2018, is in a bid to intensify technological progress in the financial sector.
The FirstBank Innovation challenge is aimed at leveraging top-notch digital technology in improving the banking processes and delivering quality value to customers. This year’s Hackathon is themed “Using AI & Big Data to solve problems in Banking and Financial Inclusion”.
The challenge will be held at the FirstBank Digital lab, and it would bring together individuals/small teams of individuals building creative and innovative software products in a specified area.
These individuals must lawful residents of Nigeria and are expected to for a team of up to 3 and not more than 5 for the hackathon (which should be formed before the deadline day of application and must be registered participants). Winners would be selected based on the following criteria:
- The direct relevance to the core problem/addressing the core problem;
- The uniqueness of the recommended solution; and
- The ease of implementation (e.g. feasible to implement within one year).
And the top 3 winning teams will be selected and awarded with cash prizes: 1st Prize – N3,000,000; 2nd Prize – N1,500,000, and 3rd Prize – N750,000.
Winners would be announced at the FBN Tech Summit on the 17th of October, 2018. Prospective winners will be required to provide any requested proof of eligibility and to sign additional paperwork in order to be formally declared winners and to claim prizes. Winners would also be needing a valid Firstbank account (if they don’t already have, one would be opened for them).
Registration is currently on and closes tomorrow, 4th October, 2018. So, do you have skill sets that address one of the challenges in the Financial Services Industry leveraging the use of AI and Big data? Hurry now to register here.