Bank of Cyprus opens applications for fintech hackathon in Nicosia
Bank of Cyprus has opened applications for the seventh BoC Fintech Hackathon 7.0, which will take place on November 27–29 in Nicosia, Cyprus. Participants will compete for cash prizes totaling €16,000, Cyprus Mail reports.
The event will be held in person at the IDEA Innovation Centre. Developers, startups, professionals, students and anyone interested in working on digital products in finance, artificial intelligence, cybersecurity, smart cities and entrepreneurship are invited to participate.
Working prototypes and banking APIs
Teams must not only present ideas but also create a minimum viable product — an initial working version of an application that can be further developed. Participants will be given access to Bank of Cyprus open banking APIs through a testing environment, as well as a software development kit. This will make it possible to experiment, in particular, with payments and services that securely use transaction data.
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The hackathon’s thematic areas include the use of AI for financial inclusion, education and fraud prevention; digital payments and smart contracts for urban infrastructure; embedded financial services; and tools for small and medium-sized businesses. Separate categories are dedicated to cybersecurity, sustainable finance, regulatory compliance automation and financial accessibility.
Prize fund of €16,000
The winners will receive €7,000, the second-place team €4,000 and the third-place team €2,000. Another €2,000 is offered for the best use of the Jinius API. The Municipality of Nicosia is also offering a separate €1,000 prize for the best smart city solution.
The program also covers financial solutions for energy transactions and smart grids, insurance digitalization, financial products for healthcare payments, social entrepreneurship and the real estate market. The topics are advisory in nature, so teams may combine different technologies and areas in their projects.
