Edgebox is an organization which works to build border-less communities of developers, coders, programmers, entrepreneurs, computer scientists and experts to establish new prospective collaborations, exchange of ideas, technologies and experiences. They work to launch countless programs and competitions which strive to facilitate the growth of programmers in the country. EdgeBox have now collaborated with Trustworkst to launch their own Hackathon titled ‘Financial Inclusion’.
The Trustworks Hackathon 2018 is hosted by Edgebox and is done in collaboration with 6th Pakistan CIO Summit and Expo 2018. The event is set to take place from the 3rd of April 2018 at the Marriot Hotel Karachi and at Gaditek. The Trustworks Hackathon is a grueling 56-hour hackathon that will challenge programmers and entrepreneurs alike to gain access to the latest API’s of the established banking systems in the country.
The participants will also be given a series of challenge statements that will cover key subject areas such as Artificial Intelligence, Machine Learning and Financial Inclusion. The participants will have to network with fellow participants and form a team which will towards solving the hackathon from the 3rd-5th. The Hackathon will take place from the 6th-8th at Gaditek Karachi. The first day will be dedicated to brainstorming sessions, mentoring and guest speaking sessions while the 2nd and 3rd day will be restricted for coding.
According to Edgebox, the challenges are as follows:
1. Deepening the reach of financial services products at affordable costs to unbanked and underbanked. Enable the rural masses to get access to banking like cash receipts, cash payments, balance enquiry and statement of account using fingerprint authentication.
2. OCR based automation of document processing. Detailed problem statement: “Currently, for banks and insurance companies, majority of KYC documents and underlying documents for trade finance/treasury transactions are hard copies in nature. Also, various internal documents (e.g. branch register, complaint books) are manually tracked for audit purpose.
3. Machine learning based analytics of these documents are required in the following areas: – Early warning system – Proactive fraud management – Proactive internal audit process
4. Data Analytics: Real time – Next Best Offer – Better profile the customer (including consent based social profiling) and use collaborative and content-based filtering to offer the most appropriate product or bundle of products at any given time.
In order for a team to be registered, the team can only have 3-5 members. Also, each team is required to register a mentor or ask the organizers to be assigned one mentor. The winning team will receive a bonus of Rs. 100,000 while the runners up and second runners-up will receive Rs. 60,000 and Rs. 40,000 respectively. Alongside that, they will receive mentorship from experts and gain access to investors and leading IT figures in the country to further expand their network.