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CXA hackathon to focus on fintech this year

Nurdianah Md Nur | April 25, 2016
The competition, which will be held on 29 and 30 July 2016, will begin accepting applications from next Monday.

Organisers of the 10th annual code ::XtremeApps:: (CXA) hackathon recently announced that this year's competition will focus on financial technologies (fintech).

Jointly organised by the Infocomm Development Authority of Singapore (IDA) and the IT Standards Committee (ITSC), and supported by SPRING Singapore, CXA is aimed at creating greater awareness and inspiring use and value of programming and standards, as well as fostering collaboration with and within the programming community.

Fintech was chosen as this year's competition theme due to the increasing interest and adoption of such solutions by consumers and financial institutions alike.  Last December, IDA showcased the world's first application of distributed ledger technology to detect fraudulent multiple invoice financing in a proof-of-concept with Standard Chartered Bank and DBS Bank.

Besides that, the move is said to support Singapore's Smart Nation vision. ITSC Chairman Yap Chee Yuen said: "Our commitment to ensuring participants dream big, create innovative solutions and engage in and with the latest technologies, coding and programming has seen great results from both young and old. This year's focus on financial technologies will continue our tradition of exploring and familiarising youth with the latest technologies as they co-create with Singapore on its Smart Nation journey."

CXA details
CXA will feature three tracks for its hackathon, which will be held from 29th to 30th July 2016.  Registration will open from 2 May 2016.

The first category is the Junior category, which is open to participants aged 12 and below. With the theme "FinTech: The Piggy Bank Revolution", this category will feature a three-hour competition followed by a judging session. This category will utilise the child-friendly technology Scratch to encourage youth to experiment, explore and learn about basic coding and programming in a fun and memorable manner.

Meanwhile, the School and Open category with the theme "FinTech: The Next Ten Years" will be open to students ranging from secondary up to pre-university education. Each team will receive a set of challenges based on the theme at the start of the 24-hour competition, from which they will be required to complete at least one challenge. They are free to use any technologies, including those offered such as cloud platforms and open source technologies.

The final category is the SPRING Singapore Standards Award, which is open to the School and Open Category participants. This category will award extra points and recognise one winning team that demonstrates the best understanding of how standards play a role in fintech solutions to ensure interoperability, cyber and data security, and user safety.

The winning team will receive a Standards Award trophy and certificate, along with a cash prize of S$1,000. Submissions - which must reach SPRING by 8 July 2016 - will also form part of the overall score for teams.

 

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