Rise Hackathon - Episode 2 - The Bank Awakens

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<P><STRONG>Your Mission</STRONG></P>
<P>The Universe of Financial Services is at War. For the last decade, The Bank Empire has been shaken to its core by the Disruptors Alliance who continue to grow stronger with new propositions. The Bank Empire now has 3 critical worlds under attack. The Rise Hackathon seeks to bring a league of supercharged developers, startups and game changers to reclaim these 3 worlds and create a path together in unity, for the future of financial services, now.</P>
<P>The Battle has spread across all of the universe. You can choose your battleground in Manchester, UK or Mumbai, India.</P>
<P>It is your mission to find a crew and reclaim one of the 3 worlds for massive prizes where only one champion will be victorious per world.</P>
<P>The time is now. May the code be with you.</P>
<P><STRONG>Which world will you reclaim?</STRONG></P>
<P><STRONG>World I: The Consumer Cosmos</STRONG></P>
<P>By 2018 European banks will have to give 3rd parties access to their customer data. This new regulation may increase competition, innovation and transparency across the European payments market. The impact will be felt in 2 areas in particular, presenting both opportunities and threats to financial institutions:</P>
<P>Aggregators: The majority of people today have multiple bank accounts (i.e. bank with more than one bank). The new regulation will lead to the emergence of aggregators – providing consumers with a portal to view all of their bank details in one place. The aggregator will be able to build valuable insights on consumers offering a number of opportunities (e.g. being able to suggest products and services that most closely meet a consumer’s needs).</P>
<P>Payments: When a consumer buys something online, the merchant has to go through intermediaries to receive money from the consumers bank account. The new regulation will bypass this process to allowing merchants to request the payment directly from the consumers bank account if the consumer has given permission.</P>
<P>It is your mission to explore how these changes can transform the way consumers think, behave and engage with banking services (current accounts, savings accounts, credit cards etc.) as part of their day-to-day lives:</P>
<P><BR>How can you reimagine the way people will consume financial services in the future?<BR>How can you delight customers (e.g. through front end differentiation, value added features etc.) whilst generating a commercially viable product?<BR>How can consumers be rewarded/incentivised to use the new products/services?<BR>What types of aggregators will there be in the future and what data sources will they use that will provide value to the day-to-day life of a consumer?<BR>How might a payment solution form part of this product?<BR>Are the days of the bank as we know it numbered? Can you create the future?</P>
<P><BR><STRONG>World II: Rebellion of the Corporate Treasurer</STRONG></P>
<P>Corporate Treasurers are rebelling against the traditional methods adopted to manage risk. Rather than using historic balance and transactional data from their bankers, they are looking to drive innovation as a result of new European regulations around account aggregators and payments.</P>
<P>Large Corporate companies today typically have multiple bank accounts with different banks. Each of these accounts will be accessed via separate banking platforms; some are online, some are offline, and all require time and effort to access/analyse. Accounts are often in multiple currencies and across several geographies and require complex payment instruments to send and receive money. The new regulation will allow corporates to view all of their bank accounts on one platform, enabling treasurers to make sure their money is in the right place at the right time and in the right currency.</P>
<P>Corporate Treasurers produce a range of reports for internal and external audiences. These reports take a long time to compile and rely on data from multiple financial and non-financial sources, which can be out of date. The new open banking regulations will potentially allow for real-time data accurate to the second, giving Treasurers the tools to make informed decisions and making it far easier to manage their risks and balances in the short, medium and long term timeframes.</P>
<P>It is your mission to simplify and consolidate the daily banking needs of Corporate Treasurers, by providing a single view experience and simplified payments process:</P>
<P><BR>How would you display all balance and transactional data/information, from multiple banks, multiple geographies and in multiple currencies, all in one place and in real-time?<BR>How can financial and non-financial information be presented in a way that helps manage balances in a range of currencies and minimise risk?<BR>What advanced data/information analytics and predictive analytics can be used to forecast future currency positions in real-time?<BR>How could historic trend analysis and market/peer group data be used to help Treasurers make more informed decisions?<BR>How can you simplify/automate the payment process, while giving Treasurers end-to-end control and visibility?<BR>Can you conquer the Corporate Treasurers’ rebellion and create a consolidated solution that will meet their needs?</P>
<P><BR><STRONG>World III: The Payments Parallax</STRONG></P>
<P>With the rise of bots, virtual assistants and IoT devices, many believe that the app is evolving to almost extinction. In a world where 70% of the adult population has a smartphone, internet traffic is driven by mobile users and digital consumers interact almost exclusively through social media and messaging services, how will people consume banking services in the future?</P>
<P>Organisations are realising the importance of the changing nature of customer behaviour – people are less and less willing to step out of their favourite channels to carry out transactions. For example, when web chatting with an airline company why do you have to revert to their website or app to make a payment? Or when talking to a client on social media, why can’t they view and pay their invoice there and then? ‘Zero UI’ allows users to do what they want, when they want, by allowing them to interact with the devices around them in more natural ways.</P>
<P>Zero UI is an emerging trend which reflects a change in consumer behaviour. The majority of face time with apps is now spent using social media, instant messaging or watching videos. Virtual assistants are now embedded into every smartphone device (e.g. Siri, Google Now and Cortana) and over 10% of searches online are initialised through voice requests. Traditional digital platforms such as the retail service Alibaba and message service WeChat now process more payments than PayPal and other dedicated payment services combined.</P>
<P>It is your mission to explore how banking services will change to meet changing customer behaviour and demands, by identifying new interaction models and providing the trust, security and support people expect from their banking services.</P>
<P>How would you build an interaction flow that allows users to access the services they require, when they want them?<BR>How can you build a Zero UI model that creates and gives users a sense of trust and security?<BR>How would you enhance the customer experience while still providing the traditional services users expect from financial transactions, such as audit, and conversation recording?<BR>How can you simplify the authentication process for transactional services while allowing the customer to remain in their preferred channel?<BR>How would you make a payment seamlessly through your favourite social media channel that was powered by your bank?<BR>Can you predict the future and change the way customers will interact with banking services?<BR></P>
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<H3 CLASS="title">Stage I: Upload your Idea</H3>
<DIV CLASS="text"><SPAN>July 20 - September 20, 2016</SPAN></DIV>
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<P>Submit an awesome idea to reclaim one of the worlds. You can submit an idea with an established crew or enter as a lone ranger. The Rise Battlestar Command Centre can also help you to find team members at a later stage if you wish. As we have limited seats in the Spacecraft, you can bring a maximum of 5 members, including you on your mission. You can submit your idea at anytime in this period but we would encourage you to submit as soon as possible so you can have as much as support from Barclays and our partners for the Final Combat.</P>
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<P>You will hear from Rise Battlestar Command within 72 hours of your idea submission, if you cleared it to Stage II. Teams who rise to the challenge earlier get more build time in Stage II. If that’s not enough, submitting early you will also be entered in for a chance to win one of our Early Bird prizes.</P>
<H3 CLASS="title">Stage II: Build & Deploy</H3>
<DIV CLASS="text"><SPAN>July 20 - September 25, 2016</SPAN></DIV>
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<P>Bring your crew together and begin building your solution after you receive mission approval from Rise Battlestar Command. Rise Battlestar Command will assess ideas and applications on a rolling basis within 72 hours of your submission.</P>
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<P>You may build a mobile, web, or a hybrid application.</P>
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<P>You can start building your solution as soon as you get the green light from Rise Battlestar Command in Stage I. As soon as your idea gets shortlisted for Stage II, Rise Battlestar Command will share a link with you so you can submit your app video or demo URL. Videos submitted before 23:59 IST on Thursday, September 15th will be entered in for a chance to win one of our Early Bird prizes.</P>
<P>The video should not exceed 7 minutes and must be in MP4, WebM, Ogg, AVI or WMV format only.</P>
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<P>You are NOT required to share the source code of your application, but your app may go through a code review at some point in the hackathon if required.</P>
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<P>In Stage II, teams will be invited to use the Rise Battlestar Command Slack channel where they will be able to interact with Rise, Barclays and Partners around the APIs and technology available, further information and clarity on the challenges with a schedule of training/webinar sessions to support the build of their solutions before the Final Combat Hack.</P>
<H3 CLASS="title">Stage III: Final Combat</H3>
<DIV CLASS="text"><SPAN>September 24th & 25th, 2016</SPAN></DIV>
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<P>Teams that make it to the Final Combat will have the chance to refine their solutions and continue to build their products and refine their demonstrations at a 36-hour hackathon with the support of Barclays business mentors, partner technology specialists and pitch mentors. The event will take place at the Bombay Stock Exchange (BSE), Mumbai. Along with the main demonstrations, it will involve fun competitions with a chance to win <A HREF="http://risehackathon.com/india.html#geekstore" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">badges</A>and <A HREF="http://risehackathon.com/india.html#prizes" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">spot prizes.</A></P>
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<P>A panel of judges of industry leaders as well as representatives from Barclays and <A HREF="http://www.acehacker.com/" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Ace Hacker</A> will monitor teams through their demonstration.</P>
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<P>There will be one winning crew from each world, with the chance to not only win a cash prize but also to build a solution together with Barclays to tackle the universe of financial services together.</P>
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<P><SPAN>Bring your forces together </SPAN><SPAN>to solve any one of our three world challenges. </SPAN><SPAN>. Begin by uploading your idea at </SPAN><A HREF="http://www.risehackathon.com" TARGET="_self" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">www.risehackathon.com</A><SPAN>.</SPAN></P>
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<P>Last date to <A HREF="http://www.risehackathon.com" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">submit your ideas</A> is September 20, 2016</P>

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Rise Hackathon - Episode 2 - The Bank Awakens

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