Friday, November 24, 2017

Alfa-Bank, Visa to sponsor five-week intensive hackathon

Alfa-Bank and Visa have partnered to create a hackathon in Russia--a five-week program bringing together software developers and start-up companies to compete for funding.

This year's hackathon is being held in Moscow and will run from Aug. 18 to Sept. 26. A collection of startups from the FINTEH will use the five weeks to create new marketable payment technologies or new services in the field of financial technology. Each participating competitor has been instructed to focus their efforts on online payment solutions, as well as applications to assist in peer-to-peer organization transfers, API for registration of virtual prepaid cards and API transfers from Russian bank accounts.

"We are pleased that the first Russian banks do FINTEH-camp for startups and developers," Alfa-Bank e-business head Vladimir Urbansky. "I am confident that this step stimulates the growth and development of banking services, will make the world of finance easier and more convenient."

Over the years, Visa has sponsored similar five-week intensives in other countries before deciding to partner with Alfa-Bank to create Russia's first Hackathon.

"For 50 years, Visa invests in innovation with one purpose--to help develop the business of our partners and to be the best method of payment for each person at any time and in any place," Visa Russia Head of Innovation Andrei Aleykin. "We are glad to cooperate in this area with one of the most innovative Russian banks, Alfa-Bank, and we hope that the Hackathon becomes a fruitful platform for the development and implementation of new ideas in the field of payment and banking solutions."

Alfa-Bank and Visa received more than 150 applications from developers throughout Russia to participate in this year's event. Among the applicants were mobile developers, interface designers, entrepreneurs and scientists.