ING boosts innovation in 24-hour hackathon
After 24 hours of computer coding by more than 700 participants, the winning teams at ING’s 24H-CodeIT hackathon 2014 were announced on 13 November.
Innovation is an important pillar in the new ING Bank strategy, as is the concept of digital first. Hackathon events worldwide have proven that they drive innovation and are all about digital technology. For ING to organise a hackathon is therefore totally consistent with the new strategy.
Thinking outside the box
To drive innovation, ING supports its own and external IT engineers to think ‘outside the box’.
A hackathon creates an environment to do this.
The 24H-Code IT hackathon challenged its participants to deliver an innovative software solution around the theme of ‘open banking’ over a 24-hour period. Open banking is based on the vision that banks will transform from relatively closed IT structures to structures that are more ‘open’, connected and better able to communicate with each other. This should lead to greater financial transparency for the customer, such as ING’s mobile banking app on a smart watch.
Innovative software solutions
In the Kromhouthal in Amsterdam, where the hackathon took place, long rows of tables were occupied with computers, computer cables and young and old brainstorming on how to deliver the best software solution for ING customers.
One group worked on a 'Fairly Lending App' for lenders and loan providers. A team of students created the ‘Orange Financial Planner’. This is an app for SMEs, enabling them to upload their annual figures in a standardised file. Yet another team worked on how to support the elderly with payment transactions using robots.
The winning teams are…
In total 80 teams participated in four categories. A winner was selected in each category and one team could win the audience prize.
- Students: ‘The WePay app’. This app enables friends to make a digital money pot from which they jointly pay expenses on a night out or when booking a city trip.
- Vendors & Suppliers: The SavINGpod. Using this app it will be a piece of cake to raise money for charities in your neighbourhood.
- ING 1: Wearables that enable you to view houses that are on sale and which tell you immediately whether you can finance it.
- ING 2: A social platform that specifically supports elderly and children to become financially fit by becoming physically fit.
- Audience prizewinner: Robots that help the elderly with payment transactions.
The 24H-CodeIT of 2014 was the successor of the very successful first edition held in 2013. 24H-CodeIT also aims to facilitate future development by being the platform for developers who believe their idea for an innovative solution can add value to open banking. For more information, visit https://24hcodeit.nl/.
24H-Code IT hackathon