The Bank of Cyprus is hosting the 5th Fintech Application Development Marathon, BoC Fintech Hackathon 5.0, focused on innovative technologies in the financial sector (Fintech). The event will take place from October 18 to 20, with in-person attendance at the IDEA Innovation Center.

In its announcement, the Bank of Cyprus mentioned that BoC Fintech Hackathon 5.0 is open to developers, startups, professionals, students, and anyone interested in contributing to the development of applications that foster innovative entrepreneurship and promote the growth of services and applications in the Fintech sector.

According to the Bank, the goal of BoC Fintech Hackathon 5.0 is to create innovative solutions in the Fintech space, progressing to the Minimum Viable Product (MVP) stage with potential for further development into fully operational applications.

The Bank of Cyprus will support the teams’ applications technologically through its upgraded open banking APIs (sandbox) and SDK (Software Development Kit), enabling the integration of innovative capabilities. These features include facilitating payments and developing data-driven services for secure transaction data utilization.

Teams that excel in the hackathon will be eligible for significant monetary and other prizes. The first prize is €5,000, the second €3,000, and the third €2,000. Additionally, €2,000 will be awarded for the best use of the Jinius APIs (Application Programming Interfaces).

The applications developed by the teams are expected to address specific technological challenges in innovative ways, though these challenges are not obligatory. Suggested areas include Generative AI & Language Models, Digital Euro, Digital Twins, Building Information Models, Conversational Banking, and Real Estate.

Participants will also have the opportunity to discuss and refine their ideas with industry professionals throughout the event.