The NITI Aayog, in collaboration with PhonePe, is hosting the first-ever Hackathon to illustrate the importance of the Fintech industry. The Hackathon aims to highlight game-changing solutions for the fintech ecosystem. The deadline for registering for this event is February 23, and the deadline for submitting final entries is February 25. The Hackathon winners will be announced on February 28.
There will be a live AMA on February 21, 2022, at 4:00 PM to answer any questions participants may have about the Hackathon.
The winning team will win exciting cash prizes worth Rs 5 lakhs. The top 5 winners will be awarded the following cash prize money:
1st place: Rs 1,50,000 for the team – 1 prize
2nd place: Rs 1,00,000 for the team – 2 prizes
3rd place: Rs 75,000 for the team – 2 prizes
Based on the hack presented, the judges can decide to award more or less.
You can register here: https://cic.niti.gov.in/fintech-open-month-hackathon.html.
Hackathon participants need to use any open-data API such as PhonePe Pulse along with programs such as account aggregator as the basis for powering the following use cases:
- Alternative risk models for lending, insurance, or investment with emphasis on financial inclusion
- Innovative products that use power data signals for different demographics and geographies to drive wider adoption of financial services
- Enhanced visualization and intelligence derived from digital payment data
- The final app created by the participants must include any one of the above.
Participants can use the following Sandbox platforms to develop their hacks.
- Setu AA Sandbox
- Setu Payments Sandbox