State Bank of India (SBI) – Collaborative Innovation Centre (CIC) launches SBI National Hackathon – Code For Bank, an API Hackathon Platform for developers, start-ups and students to put their thinking caps on and come up with ideas and solutions that can change the way banking is done in India. From a technology standpoint, Bank views APIs as a set of micro-services that are individual or a combination of use cases, around which a mash-up of applications can be developed on-the-fly.
In the age of digital Banking, SBI is organizing this Hackathon with an objective to invite start-ups, developers and partners to collaborate, ideate and co-develop disruptive and innovative solutions spearheading Indian Banking Technology Landscape. The bank’s effort is to promote an Outcome based Technology Culture amongst Start-ups and Developers with the focus on Developing Cutting Edge Solution for Bank in an agile manner. This will put in focus the Business Value driven by Technologies like Predictive Analytics, Fin-Tech / Blockchain, Digital Payments, IOT, Artificial Intelligence, Machine Learning, BOTS and Robotic Process Automation.
In the phase 1, participants can register their idea during 20th – 29th May 2017 followed by Hackathon which will start from 6th June 2017 and ends on 20th June 2017. The initiative will allow participants comprising a team of maximum five people to develop applications or solutions using only SBI APIs, only external APIs and a combination of SBI APIs and External APIs.
SBI keeps innovation on priority and CODE FOR BANK 2017 (C4B 2017) is bank’s biggest step in launching this platform for start-ups and developers in India. The initiative will a part of APIfication Strategy and Transformation which is developed by SBI Collaborative Innovation Centre to create a Boundary less and collaborative development ecosystem which is Technology Agnostic, Agile and completely Digital.
Today all Emerging technology is becoming API based, Fintech is Disruptive, RegTech for Banks is gaining and everything is on Mobile. Banks have to respond to VUCA world (Volatile, Uncertain, Complex, Ambiguous) and local themes like Demonetization, Financial Inclusion, Digital Payments, etc.
C4B 2017 will help drive both External and Internal Innovation. Developers can quickly get an Application Ecosystem View, learn the Bank Technology DNA and start developing solutions using the APIs available on the platform.