Niti Ayog and PhonePe announce FinTech Hackathon 2022 with prize worth Rs 5 lakh: How to apply

NITI Aayog, in association with PhonePe, is organizing the first-ever Hackathon in an effort to showcase the importance of the Fintech industry. The Hackathon aims to showcase path-breaking solutions for the fintech ecosystem. The last date to register for this event is February 23, and the last date for submission of final entries is February 25. The winners of this Hackathon will be announced on February 28.

There will be a live AMA on February 21, 2022, at 4:00 PM to answer any questions participants may have about the Hackathon.

The winning team will win exciting cash prizes worth Rs 5 lakhs. The top 5 winners will be awarded the following cash prize money:

1st place: Rs 1,50,000 for the team – 1 prize
2nd place: Rs 1,00,000 for the team – 2 prizes
3rd place: Rs 75,000 for the team – 2 prizes

Based on the hack presented, the judges can decide to award more or less.

You can register here: https://cic.niti.gov.in/fintech-open-month-hackathon.html.

Hackathon participants need to use any open-data API such as PhonePe Pulse along with programs such as account aggregator as the basis for powering the following use cases:

Alternative risk models for lending, insurance, or investment with emphasis on financial inclusion
Innovative products that use power data signals for different demographics and geographies to drive wider adoption of financial services
Enhanced visualization and intelligence derived from digital payment data
The final app created by the participants must include any one of the above.