Finastra has announced the winners of its annual global hackathon, Hack to the Future 4, which attracted thousands of participants from over 75 countries. More than 230 projects were submitted, addressing diverse themes including sustainable and inclusive finance, embedded finance, banking as a service (BaaS), and decentralized finance (DeFi). Initiatives promoting financial literacy, solar energy, and equitable lending were also recognized as part of the competition.
Winners of Finastra Hack to the Future 4
Best Business Model Innovation
- Winner: EnFOLL – A marketplace for second-hand solar panels that facilitates access to renewable energy for underserved communities while extending the lifespan of these products.
- Runner-Up: Effortless.
Best Fintech Submission
- Winner: PRAAM – Physical Risks Analytics for Asset Managers, a comprehensive solution designed to identify, evaluate, manage, and report physical risks within investment portfolios, offering benefits like value protection and climate risk management. This project was developed in collaboration with IMPACTPlus, a fintech startup that also earned the Best Woman-Led Fintech award for this entry.
Best Embedded Finance Submission
- Winner: Effortless – A streamlined Buy Now Pay Later financing solution, allowing consumers to easily apply for loans with optimal terms and flexible payment options directly through their trusted financial institutions.
- Runners-Up: FinFit 2.0 | Wellness Banking and Fundget.
Best ESG Submission
- Winner: Give XRP – A user-friendly app designed for charitable giving, enabling cryptocurrency users to make tax-deductible donations securely and swiftly.
- Runners-Up: I-REC Trading, Malachi, Friends Reference Bureau.
Best DeFi Submission
- Winner: Monnex™ – A groundbreaking platform that allows users to monetize traditional assets, such as equities, to access liquidity or invest in crypto without compromising their assets’ integrity.
- Runners-Up: Growr, Payment Vouchers, and PiggiFund.
Best Diversity, Equity & Inclusion (DE&I) Submission
- Winner: Growr – An application fostering financial inclusion by enabling borrowers to access fair and instant unsecured loans based on self-sovereign identity and DeFi protocols.
- Runners-Up: Trackio and A Green Vest.
Winners will receive a variety of prizes, including mentoring and scholarship programs, cash awards, cryptocurrency, and internship opportunities.
Chirine BenZaied, head of innovation at Finastra, expressed enthusiasm for the hackathon, stating, “We aim for our hackathons to inspire a movement toward financial sustainability, inclusion, and autonomy. This year’s submissions truly exemplify that vision, showcasing innovative ideas from around the globe. We gathered valuable insights into the technologies and trends shaping our industry, including the shift from private to public blockchains and the incorporation of DeFi into traditional banking. The need for solutions that enhance financial inclusion, particularly in relation to BaaS, remains significant. Congratulations to all our winners, and a heartfelt thank you to our supportive partners, judges, and mentors.”
In addition, Finastra hosted a youth hackathon for participants aged 10-18, receiving hundreds of projects from countries like India and Moldova.
Youth Hackathon Winners
- Winner: MicoBank – Developed by a 14-year-old student from Deva Matha Central School, this app rewards children for positive behaviors with Solana Tokens that can be redeemed in-store, utilizing blockchain for security.
- Winner: Finlit – A literacy tool created by two students aimed at addressing financial inclusion challenges for youth.
- Runner-Up: Aiding Peace.