What You Missed at the FinTech Hackathon



You know the drill: 32 teams, 24 hours and lots of food and caffeine, or some variation thereof, and you’ve got a company. Or several. Using APIs and platforms from over 15 technology partners, hackers gathered, teamed up and developed their hacks at the FinTech Hackathon for the chance to win prizes and be considered for possible job opportunities by Dow Jones, FinTech Innovation Lab, and ValueStream Labs.

“This is the best place to meet a potential partner for fintech start-ups, or to get to hired,” said Greg Neufeld, founder of ValueStream Labs. “This is the coming together of a verticalized start-up community.”

And the winner was…

Hedging Solutions aims to identify and estimate FX risk in portfolios and provide hedging solutions in small and medium sized corporations.

Runner-up- SimplyShare.It enables secure document sharing. Shared documents have features that enable watermarking, tracking and instant messaging. SimplyShare.it increases transparency by giving access statistics to documents sent. This means if a shared document is sent to an unauthorized party, you will know where the leak came from.

2nd Runner-up- BizCredX is a peer-to-peer online lending crowdfunding platform. BizCredX provides credit ratings for emerging start-up companies looking to raise debt or equity capital. These reports include estimates of a business’s ability to support debt by gauging default risk. Credit reports include information from public sources, partnerships, and company self-reporting.

Honorable Mention- Fintech Thing of Wonder is a cool way to visualize data. This interactive wallpaper allows the user to watch financial news pass by in bubbles full of articles and information. When a bubble catches your eye, simply click to pause it and read an abstract on the article that links back to the original source.

The FinTech Hackathon featured financial technology for both consumers and institutional customers.  Three hacks that interested me on the consumer side were Babbage, HyperBowl and BookiesForGood.

Babbage is a budgeting tool that analyzes recent bank account transactions for recurring charges. You’re able to see an estimate of what your future checking account balance will look like, whether good or bad. “Save more of your cabbage with Babbage.”

HyperBowl and BookiesForGood are very similar to each other. HyperBowl makes you put your money where your mouth is: friends are able to challenges each other to things where a wager is paid to the winner through this neutral third party. BookiesForGood puts that money where your heart is: users are able to place wagers on financial events and choose a cause or charity for the loser of the bet to pay towards. To the victor goes the spoils, or maybe charity, in this case.

Photo credit: @FinTechHack

For full coverage of tech events in New York, visit The Watch.

About the author: Gerard Masilang

Gerard is a recent college graduate with a degree in journalism from SUNY Albany. He is a private fitness instructor in New York City with a passion for helping people reach their goals. He is currently a copy editing intern for AlleyWatch.

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