- Online competition for financial technology developers and startups
- Prizes include more than €50,000 jackpot
UniCredit - together with Unicredit Services the Group's global service company - is pleased to announce it is now accepting applications for the 2016 Appathon, the global competition for financial technology developers and startups that offers a professional collaboration package worth €50,000.
The first bank to launch such an initiative, UniCredit has elected to take the event to the next level: the third edition of the Appathon will be held online to allow participants from across Europe to enter.
Interested developers and startups can apply at www.appathon.eu from June 13 to July 13. Participants will compete in challenges related to PSD2, Digital Wallet, and delivering instant insights using Big Data.
Based on these challenges, participants will vie to create the best apps that successfully integrate the latest current technology trends, including biometrics, mobile wallets/payments, artificial intelligence and social media banking.
Winning apps will meet UniCredit's business needs and be suitable for immediate development and integration with Unicredit Services.
"Responsiveness and execution flexibility are key factors for long term growth and resilience, therefore in UniCredit we are upgrading our digital ecosystem with partnerships, investments and Open APIs infrastructure allowing crowdsourcing and new Fintech system integration. We are developing a positive contamination among our people and the external environment in order to spread innovation culture and facilitate talents scouting, Appathon is an initiative that actively contribute to proceed in this direction," said Paolo Fiorentino, Deputy General Manager of UniCredit.
To participate, participants must design an app through the Open Bank Project API (Application Programming Interface), developed by the Berlin-based TESOBE Ltd/Open Bank Project. Ten teams will be selected to demo their applications in Milan on July 20 for UniCredit's senior management, who will determine the winners of the competition.
"We want Appathon to help us foster innovation and translate thoughts into new products and services that benefit our customers; by opening the API to participants, they can create functioning app prototypes that shorten the production process. This gives all of us the opportunity to think more creatively and do things in very different and interesting ways," said Paolo Cederle, CEO of Unicredit Services.
The Appathon will be run in a "sandbox" controlled environment, using test data that simulates real-life situations. In addition to the professional collaboration package worth €50,000 for the winning team, participants can win additional prizes and bonus gifts.
Simon Redfern, CEO of TESOBE Ltd/Open Bank Project, commented: "An API enables innovation to happen in faster and unexpected ways. Innovative developers and entrepreneurs can quickly imagine, design and code 'out of the box' solutions, using the rock-solid, secure services provided by UniCredit. We are thrilled to be working with UniCredit, a banking group that is clearly serious about partnering with outside start-ups and innovators across the globe."
Milan, June 13, 2016
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