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US community banks ask developers to help fix pain points

Mitesh Soni

Mitesh Soni

Senior Director, Innovation and Fintech Ecosystems + Finastra

A fresh challenge for developers

In my last post, I wrote about the incredible efforts of the developer teams who took part in Finastra’s FusionONE Hackathon and the fintech apps that were created in just 48 hours. The hackathon showed what can be achieved if developers are given the freedom to get creative, and how innovation can occur rapidly in the right environment.

Following the success of the event, we are now issuing a fresh challenge to developers, with our first public appathon. The event is open for anyone who wants to create a solution that addresses one of five key pain points for North American community banks and credit unions. These include: saving and spending control; personal finance management, new engagement channels; payment solutions; and notifications.

Just as with the hackathon, participants will create their solutions using Finastra’s open development platform, FusionFabric.cloud, which will provide them with access to our trusted core solutions via open APIs. As the platform is underpinned by Microsoft Azure, the latest tools are available to use in conjunction with the APIs, providing the ideal environment for innovation.

Unlike the hackathon, participants will not be under pressure to create their applications in a 48-hour window. Instead they have until September 1, 2019 to submit an entry. From there, ten teams will be shortlisted to demo their solutions at the Finastra Universe Community Markets event in Chicago – presenting them to a live audience that will include representatives from hundreds of banks. A judging panel will decide the winner live at the event.

Of course, the more ambitious the solution, the more time it is likely to take to develop. But simple solutions can be created in just a matter of minutes. This was evidenced by the live demos held at the developer conference following the hackathon, all of which can be viewed online.

Freedom to create open to all

I know the appathon will be particularly appealing to Fintechs, but there is no shortage of developer talent out there that will be able to shine on the platform. The invite is open to all developers, whether in banks, consultancies or vendors, whether inside or outside the industry.

Collaboration is the key to success. Open cloud-based environments that facilitate this collaboration and empower developers are essential to unlocking the full potential of both parties. That is why we impose no restrictions on those who wish to build or experiment on the platform. All you need is a good idea and the hunger to make it happen.

The winner of the FusionONE hackathon was HYBER – a team that included 15-year-old Scott Hiett. HYBER beat 25 other teams with an AI-based holiday saving app that makes FX trades at the optimum point to maximise the value of the user’s holiday fund. Like most great ideas, HYBER conceived their app over beer and pizza (just pizza for Scott) and threw themselves into the task, relishing the risk free and rapid development environment provided by the platform.

So why not grab a cold one, dial up your favourite takeaway, and see what you can create for free on FusionFabric.cloud?

 

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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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