Digital Penang is collaborating with Finexus Group and TNG Digital to launch their first Hackathon event featuring Finexus’ MyXaaS Innovation Platform offering US$18,000 (RM75,000) worth of prizes.
A Virtual Hackathon, participants will compete to create a fintech digital product that will be judged based on 3 criteria:
- Business Viability
- Integration Completeness
“The future of financial services will be disrupted by fintech and digital payments. Digital Penang is delighted to partner with leading players to develop our ecosystem and look for the next unicorn,” said Tony Yeoh, CEO of Digital Penang.
“We started a journey to help startups by providing them a combination of enabling technologies, financial services and business advisory support. That means guidance from real people with real-world know-hows. We will work alongside with these promising entrepreneurs to innovate and turn their ideas into reality, thus creating jobs that drive positive social impact,” said Clement Loh, CEO of Finexus Group.
Finexus will be opening up 40 MyXaaS APIs on its MyXaaS Innovation Platform for this Hackathon, including:
- E-Wallet/International Prepaid Card (Visa or Mastercard)
- Applicant Identification and Verification (e-KYC)
- Automated Customer Due Diligence (Background Check and Credit Scoring)
- Merchant Plug-in (E-Commerce)
- Technical Guidance and Advisory
Finexus’ MyXaaS Innovation platform is a new one-of-a-kind platform offering Infrastructure, Software and Financial as a Service and it is open to startup, mid-growth, technopreneur and socialpreneur companies to accelerate, catalyse and enable the development of their digital business ideas for speedier go-to-market presence.
The Hackathon is opened for registration on 13th of October till 5th of November. It will kick-start from 12th of November for one month till 10th of December to give participants ample time to create innovative and viable products. The results will be announced by the end of the year.
- Champion: RM20,000 API Credits + RM10,000 Cash
- First Runner-up: RM10,000 API Credits + RM5,000 Cash
- Second Runner-up: RM6,000 API Credits + RM3,000 Cash
- 7x Consolation: RM2,000 API Credits + RM1,000 Cash
The API Credits are valid till the end of 2022.