Bankathon 2016: The Original Comes to Hamburg

On 10 and 11 October, programmers will define the future of banking

17 AUGUST 2016, HAMBURG
Zusammenfassung
The Bankathon is going to its third round, and this time, it's in the Hanseatic city of Hamburg. For the organizers from figo it's a home game. The unique programming competition will deal for the first time with the Payment Service Directive 2 (PSD2), an issue which banks in particular now have to contend with. Participating teams have 30 hours to develop products that demonstrate the diversity of possibilities offered by Open Banking under the PSD2.

Hamburg, August 2016. “Code the Future of FinTech” – About 155 participants answered this call in 2015. figo and Gini brought this unique event format to life twice in Frankfurt, inviting people to change the future of banking. This time, figo is the sole organizer and has set a goal of building on the achievements of 2015. The Bankathon will take place within the first FinTech Week Hamburg in betahaus.

But this time the event is dominated by the amended Payment Service Directive 2 (PSD2). For a lot of players, the starting point “Access to Account” (XS2A), part of the EU directive, means a lot of challenges and open questions, but on the other hand new opportunities on the financial market. The participating programming geniuses will show how with ingenuity, creativity and determination, concrete utilities and technical implementation ideas can be delivered. This third Bankathon will shine a light on how the future may look after the national implementation of PSD2 in 2018. And the participants will develop solutions that show how the banking of the future can be a convenient, everyday partner. At the Bankathon, participants, sponsors, and guests will see up close what creative developers can build on the foundation of banking infrastructure.

"These market-changing EU guidelines will redefine the rules of the game when it comes to dealing with financial data. First of all, financial institutions will be obliged to open up access to their customers' online payment accounts to third parties. But they will also inspire new ways of thinking that can enable banks to implement their innovations so that they're monetizable," says figo CEO André M. Bajorat. "That third parties will soon be able to access data and functions was initially a new situation for players in the financial markets, one which they were forced to get involved in. But meanwhile, there's been a rethink in terms of opportunities for banks. The results of the Bankathon can provide an enormous amount of information for product planning and for technical preparation in the context of PSD2."

To actually get the most innovative product ideas after 30 hours of competition demands that the best be called! Development teams, individuals, existing startups, as well as teams from banks and other financial service providers can register now at www.bankathon.net. They will present their results to a first-class jury and have a chance at cash and prizes in the neighborhood of €10,000.

Already figo has been able to win notable sponsors inspired by the idea of the innovative atmosphere promised by the Bankathon: comdirect, Deutsche Bank, DKB, Visa, Aareal Bank, Consorsbank, FinLeap, Hanseatic Bank, Hamburger Sparkasse, Deutsche Apotheker- und Ärztebank, HypoVereinsbank, FinTech Group, KI finance and Sutor Bank.

Full information about the event, sponsorship opportunities and registration details can be found at www.bankathon.net.

Zitate
"These market-changing EU guidelines will redefine the rules of the game when it comes to dealing with financial data. First of all, financial institutions will be obliged to open up access to their customers' online payment accounts to third parties. But they will also inspire new ways of thinking that can enable banks to implement their innovations so that they're monetizable. That third parties will soon be able to access data and functions was initially a new situation for players in the financial markets, one which they were forced to get involved in. But meanwhile, there's been a rethink in terms of opportunities for banks. The results of the Bankathon can provide an enormous amount of information for product planning and for technical preparation in the context of PSD2." André M. Bajorat - figo CEO
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