Visakhapatnam Fintech Valley is hosting a Finackathon along with KPMG as the Knowledge Partner and HackerEarth, a leader in innovation and talent management software.
The brilliant initiative by the state government for creating an IT and Fintech ecosystem in Visakhapatnam involves management by KPMG along with leader in innovation and talent management software developer, HackerEarth. The idea is to invite ideas for development of the Fintech Valley as hub. It will be the center of innovation and business development. As of now 10 fintech player have given confirmations of participation with Fintech Valley.
Finackathon – The event will be held in 2 stages. The idea phase which is on from September 14th and will close on October 30th. The candidates will be shortlisted for participation in the final event to be conducted in the first week of December in Visakhapatnam. The categories for different winners are Banks, Insurance, Capital Markets, and NBFCs. Each winner will be awarded a sum of 3 lakh rupees. The winners will also be given a chance to carry out Proof of Concept (PoC) with corporates and will need to be executed in Fintech Valley.
The event partnered by KPMG and HackerEarth looks at finding solutions for a few broad themes:
- Customer Experience
- Process Automation
- Financial Inclusion
- Risk Management
- Lending
Sachin Gupta, CEO and Cofounder, HackerEarth said, “We are honoured to partner with the AP government to curate Finackathon 2017. It is a great initiative to promote the rising fintech ecosystem in Vizag and we hope to see some creative and innovative hacks from the participants. Banks have stored and moved money across borders for centuries, however, technology is slowly disrupting banking and financial services. e-commerce, micro payments and blockchain will give access to billions of people left outside until now, making money transactions more dynamic and inclusive than ever.”
Fintech Valley Vizag aims to bring public and private players into the field of innovation and entrepreneurship.
Source – Business World
