OpenFin Hack hackathon themes

In this section, we delve into the current trends and critical themes shaping the world of financial technology. We aim to provide participants with a comprehensive understanding of the critical challenges and opportunities driving innovation in the industry today.

For each theme, participants can identify their own challenge related to one or several themes and work on the solution during the hackathon.

OpenFin Hack hackathon themes:

CROWDFUNDING - Enhancing Engagement and Transparency in Crowdfunding Platforms

This theme focuses on improving the crowdfunding ecosystem by enhancing user engagement, transparency, and efficiency. Participants are encouraged to develop solutions that safeguard against fraud, streamline the funding process, improve communication between project creators and backers, and increase overall platform reliability.

Challenges:

• Balancing user-friendliness with security
• Maintaining transparency in fund usage
• Fostering community trust and ensuring project viability assessment.

FRAUD DETECTION - Advanced Systems for Real-Time Fraud Detection

This theme focuses on developing advanced systems to detect and prevent fraudulent transactions in real time across various financial platforms. Participants are tasked with tackling challenges such as handling large volumes of transactions, adapting to evolving fraud techniques, and minimising false positives.

Challenges:

• Handling large volumes of transactions
• Adapting to evolving fraud techniques
• Minimizing false positives

SMART CONTRACTS - Blockchain-based Smart Contracts and Transactions

This theme explores the creation of secure and efficient blockchain-based smart contracts for various financial applications. Participants will focus on challenges such as ensuring smart contract security, scalability issues, and integration with existing financial systems.

Challenges:

• Ensuring smart contract security
• Scalability issues
• Integration with existing financial systems

DATA INSIGHTS - Leveraging Big Data Analytics for Informed Decisions

This theme focuses on leveraging big data analytics to provide insights for anti-money laundering (AML), know your customer (KYC), credit scoring, and environmental, social, and governance (ESG) criteria. Participants will tackle challenges such as managing and analysing large data sets, ensuring data accuracy, and complying with data protection regulations.

Challenges:

• Managing and analysing large data sets
• Ensuring data accuracy
• Complying with data protection regulations

PERSONALIZED BANKING - Tailoring Financial Services for Individual Needs

This theme aims to offer personalised financial advice and product recommendations based on individual customer profiles. Participants will focus on challenges such as accurately understanding customer needs, addressing data privacy concerns, and integrating personalised banking services with existing platforms.

Challenges:

• Accurately understanding customer needs
• Data privacy concerns
• Integration with existing banking platforms

FINANCIAL LITERACY - Empowering Users with Financial Education Tools

This theme focuses on enhancing financial literacy by creating tools that help people understand their financial status and plan for their future. Participants will tackle challenges such as making complex financial concepts accessible, providing personalised guidance, and engaging users continuously.

Challenges:

• Making complex financial concepts accessible
• Providing personalised guidance
• Engaging users continuously