“Bank 2030” – A Word on Hackathon and New Banking Services

Bank It Up 

On 20th of May 2017 the next edition of Hackathon, a 26-hour programming marathon, took place in Wroclaw. Software engineers, graphic designers, managers and other enthusiasts of new technologies worked really hard on building a prototype of an application (web or mobile). The subject of the event was “Bank 2030” and the solution was supposed to involve the development of new banking services – both oriented on customers as well as bank employees. The best projects were granted a monetary reword and a possibility to cooperate with IT specialists from the bank on development and implementation of the proposed solutions.

How We Contributed

Our team – Mateusz Duraj and Michał Leśniak, were also among the contestants. Their prototype was noticed and highly appreciated.  The team prepared an interesting solution to manage customers’ financial surpluses, that – via an application and with bank’s assistance and supervision – can be used to grant loans to other customers.  It would be a combination of a private loan and a bank loan. A customer who acts as a lender would make a certain amount of money available to the bank with a suggested interest rate. Once the bank accepts the conditions and adds its commission, a concrete offer is presented to a person applying for a loan. Will such a service be offered in the future? It is hard to tell for certain. It depends both on technological capabilities as well as on legal conditions. Nevertheless, the project aroused a considerable interest among the organizers of Hakathon.

Perfect Addition To Our Solutions

Genuitek has been providing online banking solutions for a long time now. We find this subject even more important since a new UE directive (PSD2) is about to be introduced in 2018. Its goal is to modernise payment services offered by banks and other financial institutions, hence creating a big market for IT companies that specialize in such technologies. Genuitek undeniably stands among those firms.

Klaudia Skrzydło

Content Writer

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