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Interoperability and Open API Hackathon

#DFIHackathon #IncludeEveryone

About #DFIHackathon

#DFIHackathon is a hackathon for FinTechs and developers with innovative ideas to create new, compelling financial applications and products using OPEN API, GSMA API and/or Mojaloop Technology.

In 2016, the GSMA Mobile Money team published the first set of harmonised mobile money APIs.  The aim of the harmonised Mobile Money APIs is two fold. First, is to ensure that best practice from the tech industry in API design, security design, and others is made accessible to the mobile money industry. Second, is to address the complexity and fragmentation that is apparent in the fast growing, bottom up industry that mobile money is. The GSMA is encouraging its members, and mobile money industry partners to raise the bar by using these APIs to ensure rapid partner onboarding, offer advanced and secure functionality, and reduce the fragmentation that limits and delays regional partners to leverage mobile money.

Open APIs and GSMSA APIs

The APIs have been designed to cater for a core set of mobile money use cases:

  1. Interoperability between mobile money and banks, or among mobile money providers
  2. Merchant payments, online and offline, including delegated authentication of transactions
  3. Bill payments and instant notification of payment
  4. Basic account management
  5. International transfers, including request for quotation
  6. Bulk transactions
  7. Cash in / Cash out

#DFIHackathon allows developers to use OPEN APIs and/or GSMA API for different applications and products with the topic being

  1. Products for Women Empowerment e.g. Saving, Lending, Insurance
  2. Products for Youth Empowerment e.g. Youth Sacco’s, Investment
  3. Products for Farmers e.g. Merchant Lending
  4. Remittances
  5. Utility Payment, Merchant Payments

#DFIHackathon, along with its partners, invites all creative FinTechs and developers to participate in the hackathon to create the next, new compelling digital financial products using the GSMA API.

Mojaloop

Mojaloop is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion.

#DFIHackathon will also feature  proof of concept for 3 cases where mojaloop can be deployed as a payment switch

Ahead of the hackathon, select and interested Participants will be challenged  to understand the working of Mojaloop and provide an abstract of how they would deploy Mojaloop to function as a payment switch for either of the 3 use cases

  1. In county Mobile Money and Agency Banking Switch
  2. East Africa Payments Switch
  3. Africa Remittances Switch

Using a test lab, the team during the hackathon will be challenged to develop applications that simulate their interoperable payment models utilizing a payment switch.

Implementation stages:

The hackathon will consist of majorly 3 stages

Stage 1: Collection of Abstracts – June, 2018 through July, 2018 During Stage 1, We will collect the best and brightest abstracts for next new innovative solution using OPEN API or GSMA API or Mojaloop. The abstract should include at least one API described use case as part for developers/fintech submission. A developer may use any API available as published on the internet. Registrations will be by sending the Abstract via the online form.

Stage 2: Implementation and Selection – July, 2018 through August, 2018 The best abstracts will be chosen from the stage 1 registrations and will be announced at the project website. The abstracts will be chosen by the judging panel. The qualified abstracts will also be notified by email.

24 hour #DFIHackathon (Friday to Sunday)

  • Centered on the customer. Each hackathon topic is focused on a single customer process or journey and supports a clear target to deliver a breakthrough cost effective customer experience.
  • Deeply cross functional teams.  Hackathon participants will include product designers, user experience specialists, graphic designers, architects, developers and coders among others
  • Starting from scratch. Participants will reimagine an idealized method for addressing a given customer need, into a simple, single step, self service digital process.
  • Concrete and focused on output. Sessions will start with ideas but end with a working prototype that people can see and touch, such as apps  Output also will includes a clear development path that highlights all the steps needed, including regulatory, IT, and other considerations, to accelerate production and implementation. After an intense design workshop, which includes sketching a minimum viable product and overnight coding and development of the prototype, the hackathon will conclude with presentation by each team.
  • Iterative and continuous . Once teams agree on a basic experience, designers and coders will go to work creating a virtual model that the group vets, refines and rereleases in continual cycles until the new process or app meets the desired experience criteria.

#DFIHackathon Prize

Final #DFIHackathon prize winner will be announced at the close of the second day of the hackathon . The winning applications/products/teams will be judged and awarded as defined in the terms and conditions.

Following the #DFIHackathon , winning teams will have the possibility

  1. To be selected into another Hackathon challenge
  2. To be selected in an accelerator program to help grow idea into a business with the help of partners

 

Schedule:

  • Call for Hackathon Entries  June 1st
  • Publish Hackathon Entries  July 30th
  • Review Hackathon Abstract August 15th
  • 2 day Hackathon August (Last Week)

Criteria of assessment:

Evaluation in the hackathon will proceed in two phases – as follows:

Phase one evaluation of ideas/Abstract:

  • Elaboration of Use Case
  •  Appropriate selection of APIs
  •  Quality and clarity of presentation

Phase two  evaluation of implementation:

  • Innovativeness  Market relevance – is this an exciting application for subscribers or businesses
  • Functionality – is the application/product useful
  • Overall User Experience
  • Potential impact on financial inclusion
  • Innovative use of GSMA API- have to use at least one GSMA API
  • Ease of use – is the application easy to use and has good ergonomics appropriate selection of APIs
  • Cost – how much will this cost users? (Free, non free, advertising)
  • Quality and clarity of presentation  the format, color schemes, design, etc

Business viability  in terms of the possibility of an investment(and Accelerator program). The analysis will include:

  •  the capacity to build effective business model, ensuring the commercialization of the highlighted solutions;
  •  ability to define leaders who would be responsible for the implementation of the investment;
  •  defining of the ivestment strategy, which should ensure the development of a satisfactory rate of return.

 

Submit Entry Into The  #DFIHackathon


FinTech | RegTech | Financial Inclusion!