Applications invited for 'OpenFin Hack' hackathon

Financial institutions, financial technology companies, as well as Latvian and European financial industry associations are inviting applications for an international financial technology hackathon named "OpenFin Hack".

According to organizers "The goal of this hackathon is to promote innovation to make financial services safer, more inclusive and more accessible." 

The event will take place from April 9 to 13 in online format. Participants will also have the opportunity to meet in person at a networking event on the final day in Rīga.

Both people with brand-new ideas and teams of early-stage startups are invited to participate in the hackathon. Support and assistance from industry experts will be available to jointly create innovative financial solutions. The total prize fund is 5,000 euros.

Tīna Lūse, head of the "Fintech Latvija" association, said: "OpenFin Hack is an opportunity for the industry to meet with the authors of new ideas and solutions to discuss and understand what is possible and necessary in the financial services sector. The selected topics reflect areas where innovation is really necessary and can make a positive difference."

Solutions will be sought in six areas of the financial industry: crowdfunding, fraud detection and prevention, blockchain solutions, data analytics, personalized financial services and financial literacy.

Within the framework of OpenFin Hack, four introductory events are being organized so that anyone interested has the opportunity to get an in-depth understanding of current affairs in the financial technology sector before the hackathon. The first event will take place on March 12 and will be dedicated to the analysis of trends in the financial technology industry and the current regulation of the industry. The second event will take place on March 19 and will focus on technologies used in the financial sector, such as artificial intelligence, blockchain, cloud services. The third event will be held on March 26, and will focus on startup stories in the fintech industry. It will also be possible to get information about attracting investments for the development of your idea. The final event will take place a week before the hackathon, on April 2, and will take a broader look at the hackathon's themes and challenges.

Registration for the hackathon is open until April 4 and more information is available at the dedicated website

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