JB Financial Group, 2e and TESOBE, the Berlin-based software company behind the Open Bank Project, have announced the BiSang Hackathon (‘Quantum Leap’ in Korean) aimed at global start-ups, developers and individuals.
It is the first global hackathon devoted to the banking industry of South Korea. The objective is to find new partners for JBFG in providing innovative services and technologies to the financial and banking industry.
“Following the 2015 Fintech Frontier Fair ‘BiSang’ aimed at Korean fintech start-ups, JBFG is hosting a global hackathon for Korean and overseas startups, to be held in Seoul in Nov. 28~30, 2016”, the website reads.
The competition is open for individuals and teams of all sizes, and the teams selected for the final will be allowed to bring a maximum of five participants.
The first part of the hackathon is online and started on 01 October and will close on 20 October 2016. Thereafter, from the online entries, selected finalists will be invited to present their innovative ideas in person to senior bank management in Yeoksamdong, South Korea, 28-30 November 2016.
The hackathon has two challenge fields: the Ideas and the Technology/ Development. In the Ideas area, JBFG is offering a Grand Prize of KRW 2 million and in the Technology and Development area a Grand Prize of KRW 3 million will be offered, plus 3 runner-up prizes of KRW 1 million each.
In addition, JBFG will also offer a test bed for commercialization, an opportunity to partner with JB Financial Group and receiving business support from event sponsors. Selected participants will receive an opportunity to engage in immediate discussions with relevant business divisions within the JB Financial Group. Moreover, JBFG will also provide additional funding support to selected new fintech start-ups.
