Team Cosmos Constellation, C-Stell has been announced winner of the //Re:Code Nigeria Hackathon 2018 tagged “Data Hack” amidst 115 team of developers, designers, and code magicians that participated in the 3-days hackathon.
Organized by Africa Fintech Foundry, AFF in partnership with Access Bank, Unilever, DELL, INTEL, AFEX, Microsoft, IBM among others. //Re:Code Nigeria Hackathon is an annual tech competition that brings together software developers in Nigeria to collaborate on thematic problems and provide innovative solutions to help resolve the country’s financial services industry challenges.
The participants at the Hackathon were grouped into 26 teams to provide solutions to three problems statements: How financial technology can address supply chain challenges (from finished goods to retail) in the FMCG sector to drive profitability and growth; Leveraging big-data analytics, identity management and behavioral analysis to identify customers’ needs, reduce risk, exposure, provide investment advice & lending services, and Financial inclusion for the Agric and related sectors with a focus on improving credit scoring and financing opportunities for small and medium scale operators.
After providing solutions to the three problems statements within a time frame of 48hours, the teams had the opportunity to pitch their solutions to the judges and the winner went home with a cash prize of N5million among other amazing prizes.
Team Cosmos Constellation created a system to minimise demurrage contributed by human errors by creating a system that uses optical character recognition to fetch text from scanned documents. The system also provides notifications to minimise demurrage and offers the tracking of shipments across ports.
However, Team Ace who claimed second place developed what is called TrackIt. TrackIt is a system that not only views and gives up to date tracking of shipments, but can check analytics and provide information of all payments accrued and shipments in process or honoured in real time.
Meanwhile, Team BAT (Building Awesome Technologies) claimed third position by developing a Smart assistant which leverages imputed data set, unsupervised deep-learning algorithm and Internet of things to aid and guide the users in making informed decision while keeping engagement simple
While speaking at the event, AFF’s Business Solutions Architect, Adeleke Adekoya, stressed that the AFF is known to lead and deliver wholesome technologies for the Finance sector and be at the forefront in providing innovative technological solutions leading to significant improvements in customer satisfaction.
“We organize Hackathon to bring indigenous technological solutions to the global stage, and showcase Nigeria’s strides and solutions in the Fintech and technology space as this will rapidly unlock new economic opportunities and accelerate our development as a nation.”
In the same vein, Executive Director of Access Bank, Victor Etuokwu, said for Fintech to thrive in Nigeria, a framework that encourages innovation and ensures consumers are protected must be in place.
“At Access Bank, we have a track record of technological innovation and as a leading Bank in driving digital banking in Africa. We seek to create new opportunities in emerging markets by providing a platform designed to inspire and challenge innovators and entrepreneurs, as such we have partnered with AFF and leveraged on our global platform to further foster innovation, drive entrepreneurship as well as economic development,” Victor said.
The panel of judges included James Todd from Unilever Africa, Victor Etuokwu of Access Bank Plc, Bayo Adekanmbi from MTN, Iyin Aboyeji of Flutterwave and Ayodeji Balogun from AFEX.
The first edition of AFF Hackathon held in 2017 and was themed “Customer experience and value beyond payment”, unveiled the birth of an AI platform by the winning team called Voice IT- a cloud-based, pay as you go, face and voice biometrics platform which allows a rapid build and deployment of security solutions.
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