An impressive host of leading companies and banks have come together to support fintech innovation in Central and Eastern Europe at the Open Banking Hackathon – CEE Online Edition, which will take place from 17 – 20 September, according to a press release issued by the credit institution.

The 4-day online competition will challenge teams from 10 countries (Poland, Romania, Bulgaria, Hungary, Austria, Croatia, Slovenia, Slovakia, Czech Republic and Greece) to build value-added applications on the already tested Open Banking data aggregation platform provided by Finqware.

Cosmin Cosma – CEO Finqware, initiator of this event:

“We have received tremendous feedback and support for our initiative from several players in the Open Banking ecosystem. An impressive number of 10 banking institutions from all over Central and Eastern Europe, who usually don’t get together at events, joined us to see first-hand the fintech innovation and evaluate the teams’ projects. Leading names in technology, global consulting companies and the region’s leading fintech accelerators were actively involved to make the Open Banking Hackathon 2020 an important platform for fintech projects. More than 40 fintech teams from 10 countries have already registered to make it to the grand final, which will be held online on 20 September in a grand gala event.”

With Google and Asseco SEE as main partners, the event is also supported by major banks such as Banca Comerciala Romana (part of Erste Group), Alpha Bank, Raiffeisen Bank International, First Bank and Banca Nationala a Romania. International law firm CMS, FintechOS and Ernst & Young are also partners of the event, keen to see Open Banking gain traction in the financial industry. Also supporting the event are Mindspace, DHL and Digital intelligence who provide the prerequisites and services for a successful hackathon.

In addition, five startup accelerator programs from Romania, Austria, Hungary and Bulgaria (InnovX, Techcelerator, Elevator Lab, OTP Lab and Eleven) are involved in supporting the event and mentoring teams during the 4-day hackathon to develop minimally viable applications and products based on their ideas. CFTE, one of the global information companies for the banking system, is also a strong supporter of the event.

“For us, as organisers of the Open Banking Hackathon, it was surprising to see so many renowned companies responding promptly to the call to support us in organising this competition, especially in the post Covid 19 environment, when events have changed considerably. Their support conveyed to us what we already believed, that innovation should never stop and that financial services should continue the digitisation process with even more sustained efforts, triggered by the ever-changing world we live in.” said Alexandra Dabu, CEO of How to Web, co-organiser of this year’s edition.

10 projects in the grand final
More than 40 teams from the region are already in the running to reach the final stage, where the top 10 projects will be presented in front of an impressive C-level jury at the online Demo Night final on September 20, 6 PM EET.

All those interested in seeing Open Banking in action are invited to book their place at this link to participate in the “Eurovision” of fintech innovation in Central and Eastern Europe.

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