New Test Hack
New Hackathon Testing
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#test
The journey of New Test Hack
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Register
Register with us
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Post your Proposals
Post your proposals for our problem statements
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Finalists Shortlisted
The best proposals will be shortlisted by our experts
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Post your Solutions
Post your solutions for our problem statements
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Winner Announcement
The best solutions will be shortlisted by our experts
Register
Register with us
Post your Proposals
Post your proposals for our problem statements
Finalists Shortlisted
The best proposals will be shortlisted by our experts
Post your Solutions
Post your solutions for our problem statements
Winner Announcement
The best solutions will be shortlisted by our experts
All timings are as per (GMT +8:00) Singapore, Beijing, Perth, Hong Kong
Organized By
About Us
We at the Financial Alliance for Women are the leading peer-learning organization for financial services providers targeting the female economy, a large, fast-growing and underserved market. We acknowledge that fintechs are well-positioned to tap into this market, as showcased in our research launched in October 2020, “How Fintechs Can Profit From the Multi-Trillion-Dollar Female Economy.” The Alliance Hack was born to help fintechs embrace this win-win opportunity.
The Alliance Hack — in its second edition — will leverage the Alliance's deep expertise to support fintechs in developing solutions for women business owners to access financial products and accelerate their business growth. It will also connect fintechs with global financial services providers that have similar objectives and allow them to pitch their solution in front of a judging panel of global leaders in the financial sector and champions of the female economy.
The Hackathon offers clinics, as well as business and technical mentoring support to participating fintechs to help them validate their tech solutions and develop sound business models with the potential to meet the real needs of women business owners and transform women's investment capabilities.
And so, we’re inviting start-ups and established fintechs to innovate scalable solutions that can break down systemic barriers and unlock the full power of the female economy. Our hackathon challenges will call for tech-based solutions and proofs of concept (POC) that financial services providers can use to serve the women’s market and that women can use to access financial services and be fully included in the financial system.
Problem Statements
The Alliance Hack will leverage the Alliance's deep expertise to support fintechs in developing solutions to support women business-owners' access to and use of financial products, to create supportive business development services to accelerate their business growth
#1 SME Exchange
Prudential effectively and sustainably
SMEs can benefit from closer and more frequent collaboration with each other. The proposed solution may include allowing SMEs to search for suitable solutions, or to encourage SMEs to approach other SMEs for an "exchange of expertises". We want to cultivate an ecosystem that allows SMEs to network and leverage on the strengths of each other. The best submissions will also consider what role Prudential can play in this solution and how we can achieve a win-win-win outcome for SMEs, the solution provider and Prudential.
#2 PayAuth
NPCI's PayAuth Challenge aims to identify alternative solutions for payment authentication and authorization in UPI to provide a more secure user friendly way for users to transact.
NPCI's PayAuth Challenge aims to identify alternative solutions around payment authentication methods in UPI to provide risk based user authentication and user friendly transaction authorization. The intent of this challenge to explore the feasibility of alternative payment authentication mechanisms and user behaviour towards such authentication mechanisms.
#3 Product Marketing
Financial institutions are increasingly adopting AI-based marketing, which involves use of external customer datasets such as social media and marketing data.
How can validations and controls be built to diagnose and assess the fairness of an AIDA marketing solution which uses acquired external data?
Supporting Assets
Datasets
APIs
- Meniga Digital Banking: Uses data to accelerate innovation and meaningful engagement by providing APIs to improve and personalise the online banking experience.
- Intellect Design (1): This API provides insights across various cross sell opportunities and compliance deviations.
- Intellect Design (2): This API module includes several endpoints enabling channels and third parties to extract various aspects of customer data.
- Instafin API: Lookup Client: Fetch financial institution end-client data.
- Intellect Design (Prospect Management): The Prospect API module includes several endpoints to allow channels, CRM systems and third parties to manage various aspects of Prospect.
- APIX Digital TWINN (Customer Management 2.0): Customer Management APIs allow onboarding of customers, while retrieving customer information/details from the Core Bank, and updating customer details.
#4 Risk, Compliance & Fraud Monitoring
Use of synthetic data to supplement a lack of historical data for fraud or risk monitoring AIDA solutions is becoming common. However this increasing reliance on synthetic data may lead to risks of unintended bias.
How can fairness be incorporated (i) in the use of synthetic data and (ii) when designing and testing such AIDA algorithms? This includes generating, handling, and testing of synthetic data to prevent false positives or disadvantages to specific groups.
Supporting Assets
Data Sets
APIs
- Digital Asset AML (Uppsala Pte Ltd): Enables a financial application to query the Uppsala Security Threat Reputation Database (TRDB) and validate crypto address reputation in real-time. Specifically, it can be used as a plugin for Anti-Money Laundering (AML), Anti-Coin Laundering (ACL) and Crypto Asset Fraud Detection System (FDS).
- Intellect Design (Account Onboarding): It accepts the information relating to the holders and creates a relationship between the holders. It also checks for AML for the holders, along with performing biometric and other checks. The system captures the holders’ signatures, and the process is customised as per regulation.
- Solis Onboarding: This API enables KYC screening against sanction lists, PEP lists and adverse media publications.
- Data Zoo API: The API can be used for identity verification and PEP Screening for AML checks.
AWARDS
What's In It For You
Alliance Hack will support fintechs in developing solutions to support women business owners’ access to
Up to $25,000 cash prize
First-place prize is $25,000 in addition to a free year-long subscription to APIX and AWS credits up to USD$25,000.
Get the chance to participate in a global incubator program for financial inclusion
Three winners will get the opportunity to enter the finals for global accelerator programs such as Monetary Authority of Singapore, Mastercard Start Path, IBM Hyper Protect Accelerator and Enterprise Ireland.
Receive capacity-building support
The top three winning teams will become members of the Financial Alliance for Women for a full year, enabling access to a network of global FSPs, mentoring, peer learning opportunities, and to the Alliance's proprietary tools and knowledge products.
PARTICIPATING JUDGES
Hackathon Judge
View Profile
Executive
test judge role
PARTICIPATING JUDGES
Eligibility
- We welcome start-ups, small and medium-sized enterprises (SMEs) and multinational corporations (MNCs) from all geographies to participate in the Global Veritas Challenge 2021.
- Participants must be a legally incorporated entity.
- As the Hackathon will operate in English, all materials and communications submitted must be in English.
Media Centre
A test video
FAQ
Is there any geographical restriction on who can participate?
No. The physical location of the participant does not matter. We welcome solutions from all jurisdictions and will work with the participants to facilitate an effective presentation of the solution during the judging phase. Do take note the entire challenge will be conducted virtually due to ongoing travel restrictions.
What is the judging process?
There will be 2 rounds of judging. The first round will select up to 10 finalists, based on the desirability, feasibility and viability of the proposed solution to the problem statement. Finalists will be selected and informed by 20 August 2021, before they proceed to prototype their proposed solution. In the second round, the top 10 finalists’ solutions will be evaluated to select up to 3 winners.
AWARDS
AWARDS
CATEGORY A:
Outstanding Innovative Idea - Champion
Nine Lives (Benjamin Loh)
Project Name - Nine Lives
Outstanding Innovative Idea - 1st Runner Up
Singapore Management University
Project Name - Digitising Insurance Purchase
Outstanding Innovative Idea - Merit Awards
Flying Cape Pte Ltd
Project Name - Turbocharge My Future
Nanyang Technological University
Project Name - OmniPRUdent
Nanyang Technological University
Project Name - B9 Proposal by Team Minions
ICICI Prudential Life Insurance
Project Name - Insurance for Gen Z
Nanyang Polytechnic
Project Name - Pru100% Customizer
CATEGORY B:
Ecosystem Partner
Shortlisted Teams will have the chance to receive from any member of the judging panel an offer for a paid Proof of Concept ($5,000 to $40,000), and subject to contract). If accepted, the team will build a prototype on the APIX platform. There is no limit to the number of paid POCs that may be offered.