Author – Jalak Rawal & Sweta Shetty (Startupbootcamp Mumbai)…
The last weekend was literally a dopamine rush as coders, designers and solution developers hacked their way through the 48 hours at Startupbootcamp Fintech’s first Hackathon in Mumbai from 6th – 8th October in partnership with co-working space, The Mosaic.
The focus of the Hackathon was artificial intelligence, machine learning, and financial inclusion, where 20 teams worked on the challenges given by Startupbootcamp partner organisations ICICI bank, RBL Bank and PWC. The event was supported by community partner Grey Atom and outreach partner Elemential.
The event was flagged off with a warm welcome note by Ms. Sweta Shetty, Managing Director of SBC FinTech, followed by challenge briefing from partners ICICI Bank, RBL Bank and PWC. The challenges posed were:
- Deepening the reach of financial services products at affordable costs to unbanked and underbanked.
- OCR based automation of document processing for banks and insurance companies.
- Real-Time, Next Best Offer – better profile the customer (including consent based social profiling) and use collaborative and content-based filtering.
Participants made the best use of the resource pool made available by Startupbootcamp and partner organisations – RBL Bank had opened up their API stack for the participants and workshops were conducted on API [by RBL Bank] and related topics. Participants had an insightful session on Machine Learning with Mr. Shivaram [Curl Analytics] and on Image Processing in Deep Learning and working of CNN (convolutional neural network) layer by Mr. Jay Trivedi [Grey Atom].
Our esteemed panel of judges, comprising of Ms. Sweta Shetty MD, Startupbootcamp Fintech, Mr. Abhijeet Davane, VP & Head of Rapid Development, Startup Engagement, RBL Bank, Mr. Sameer Singh, CEO, Digital Fifth and Mr. Hemant Adarkar, CTO, Digital venture @ Nainital Bank spent several hours on the last day evaluating the product and solutions presented to them, the practicality of the approaches and innovation in thought process.
The winners received cash prizes, in-kind services and an were given an opportunity to work with partner organisations.
- First place: Team TSF formed by 2 programming enthusiasts Varun Somani and Nikhil Prasad (Grey atom), both who met at the Hackathon and co-developed a social media based customer profiling solution to deliver targeted and relevant offers to the customers of financial institutions.
- Second place: Single member team Hacking Bad. Mohit Mhunjani, incidentally has won 9 hackathons this year itself. He developed a Configurable & Extensible OCR Engine For General Documents with Fraud Detection capabilities.
- Third place: Team Kletu is a group of 4 engineering college 3rd-year students from KLE Technological University Nitin R, Rajesh Satapathy, Preeti Pardeshi and Prajakta Desai. They developed a Predictive Model For Bank Customers Based On Decision Tree Pattern Recognition On Generalized Data Sets
The 48 hours saw a turnout of 350-400 enthusiasts, hackers, fintech startups and ecosystem players over the challenges, networking and facilitated workshops. It was a sudden rush of adrenaline, but an absolute peace in chaos. With intelligent products/solutions created, tech driven conversations and a problem solving mindset, the first Hackathon proved to be a great success.
The Hackathon was organized by Startupbootcamp, a global tech accelerator. Startupbootcamp was founded in 2010 in Copenhagen with a core mission of supporting the world’s best entrepreneurs through all stages of their growth. They organize industry-focused accelerator programs for startups across the world. They are soon launching a fintech accelerator program in Mumbai, click here for more details.