What does the bank of the future look like? This is the burning question that was addressed to the 27 students of the Luxembourg Tech School gathered for a Hackathon hosted by the LHoFT Foundation in Kirchberg and supported by Digital Lëtzebuerg and Temenos, the world’s leading banking software vendor, who provided the technical infrastructure.
(Featured Image: Winning team VISICRED with Nicolas Boatwright, Temenos Sales Manager Benelux, on the left and Nasir Zubairi, CEO of the LHoFT Foundation on the right / Image Credit © Module1.eu)
Luxembourg Prime Minister Xavier Bettel opened the Hackathon, encouraging the students to learn and apply technology in a real business context. Prime Minister Bettel commented “this brilliant initiative is here to prepare the youth of today for the world of tomorrow”.
The students, split into 7 teams, competed during the weekend to create the best solutions and invent the bank of tomorrow. Students were supported by Sergio Coronado, chief coach of the LTS, and a range of mentors from the financial industry passing on knowledge, providing advice and feedback.
The 27 students brought together creativity, vision and agility. They wowed everyone during the weekend. Some of the teams developed online platforms, while others created apps dealing with complex subjects such as cryptocurrencies, big data and artificial intelligence.… Sunday afternoon, after an intensive and inspiring weekend, the students pitched their ideas in front of a jury composed of Jean Francois Bequevort (Temenos), Andrey Martovoy (ABBL), Nasir Zubairi (LHoFT), Agnes Gerbaud-Seuret (BGL), Alain Ures (BCEE) and Anne-Catherine Ries (Digital Lëtzebuerg). The choice was extremely difficult but the 3 top prizes generously offered by Temenos went to:
- 1st Prize to VISICRED, platform that simplifies your loan planification. They received a check of 1600 euros.
- 2nd Prize to LIFEBANK, app offering suggestions on how & where saving money. They received a check of 900 euros.
- 3rd Prize to BLOCKBANK, online bank based on Ethereum. They received a check of 500 euros.
The jury highlighted the very high quality of the solutions and the incredible ability of this young generation, future customers of and potentially leaders in financial services, to adapt. They tackled difficult question, they anticipated change and transformed the existing into opportunities for customers, providers as well as for society in general.
“Incredible. Amazing. Awesome. Mind blowing. I can throw many superlatives to describe what I have experienced this weekend. It is so inspiring to see those young people so engaged, contributing their creativity to an industry that is hungry for innovation. The Luxembourg Tech School has done a fantastic job. Temenos has demonstrate their progressive and open attitude to innovation by supporting this initiative. Digital Lëtzebuerg has been magnificent. The mentors were so generous on the time they gave. Thank you to all: students, teachers, mentors, supporters and jury members.” – Nasir Zubairi, CEO of the LHoFT
Nicolas Boatwright, Temenos Sales Manager Benelux, added: “While Temenos hosts hackathons across the globe, it was an honor to be asked to make our sandbox and technical experts available to give the next generation of innovators and developers a chance to experiment and learn. An exercise all the more rewarding when you witness the diversity and thoughtfulness of the intergenerational dialogue between mentors and mentees. I dare say that everyone participating ended the weekend a winner, and richer for the experience.”
About the 7 LTS Teams and Projects
- UNIK: Personnal financial Artificial Intelligence advisor for credit and investment. Clients get overall view on how to invest best. Based on profile.
- FANTASY: Stock Investment gamification platform for millennials.
- SMART-UP: App where you can invest in companies and projects.
- BLOCKBANK: Fully decentralize bank, online (focused on mobile) and based on Ethereum. Online interface where you can buy Cryptocurrencies. Easy to share and to pay online, on a mobile phone but also with a card.
- LIFEBANK – Saving for your future: Banking App where you have full visibility and management over your bank account. App offering suggestions on how and where saving money.
- VISICRED: Platform that simplifies your loan plannification with the bank. Quick and easy visibility on your loan capacity.
- INVESTUS: Social network Investment platform. People can invest in people and communities’ projects.