CBCG FinTech Hackathon, a forty-eight-hour team competition in creating the best fintech idea, with a special emphasis on digital banking and digital payments, will be held from 22 to 24 October 2021. By organising a hackathon, the Central Bank of Montenegro (CBCG) aims to promote and encourage innovations in digital banking and thus contribute to financial education in digital banking and payment services. The CBCG FinTech Hackathon also aims to promote creative and innovative ideas for applying modern technologies in banking, with a particular focus on the open banking and payment services domain.
By participating in the Hackathon, all competitors get the opportunity to attend “The Impact of Technological and Financial Innovations on the Montenegro’s Society Development” panel and work with mentors from the information technology, banking and public relations world. The best three teams will end the competition by winning valuable prizes.
Within 48 hours, the CBCG FinTech Hackathon gives your team an opportunity to design or develop ideas with the help of mentoring support that brings new opportunities in banking and payment services, solve a specific problem or obstacle, or enable savings and greater inclusion for end users.
During the Hackathon, the participants will work with top lecturers and mentors in banking and FinTech, the IT community, the Ministry of Public Administration, Digital Society and the Media. Special attention will be paid to the preparation for pitching.
By participating in the Hackathon, you get the opportunity to win valuable prizes for your work, effort, innovation and creativity. Eminent FinTech experts will be at your disposal and you will gain new experience, knowledge and contacts.
The topic of the CBCG FinTech Hackathon is The Future of Digital Banking and Payment Services in Montenegro.
The right to compete will have five teams, with three to five members, who are shortlisted. To participate in the competition, you need to sign up here.
We are looking for teams involved in FinTech-related projects or having an initial idea of how to improve this area, those interested in the FinTech development in Montenegro and those wanting to bring their ideas to market.
Only Montenegrin citizens may participate in the competition.
To enter the selection process, your idea should meet the following eligibility criteria:
- Innovation – new opportunities (new services) in banking and payment services that bring savings, inclusion, simplicity for end users;
- Applicability – relying on available, known technologies and with a specific description of their application;
- Convenience – solving a specific problem or obstacle;
- Functionality –serving the general interest and improvement of the socio-economic position of all citizens.
All registered teams will go through a pre-selection process conducted from 15 to 19 October 2021. After that, all applicants will be notified of the outcome. The CBCG jury, which includes banking, digital payment services, and communications experts, will do the pre-selection. The selected teams will have a deadline until 21 October 2021 to submit a two-minute video presenting the idea. The video will also be shown at the Hackathon opening as part of the teams’ presentation.
All pre-selected teams will receive their four-member mentoring team, composed of the CBCG representatives for regulations governing banking, payment and digital payment services, the Association of Montenegrin Banks for banking and public relations and ICT Cortex for IT and public relations.
The competitive part of the CBCG Hackathon lasts 48 hours. Within their team, the competitors themselves allocate time and responsibilities for project development. Competitors are required to provide the equipment needed to create/develop a project/idea.
The Hackathon will be held at the Hilton Hotel in Podgorica. Teams will be provided with space to work during the Hackathon, rest area, meals and refreshments. In case the epidemiological situation deteriorates, the Hackathon will be held in an online format.
The seven-member jury will consist of the CBCG representatives, the representatives of the Ministry of Public Administration, Digital Society and Media, the representatives of the Association of Montenegrin Banks, the representatives of ICT Cortex, and a representative of the Croatian National Bank’s FinTech Hub.
The three teams, which present the best ideas, according to the decision of the expert jury, will win valuable prizes.
1st prize - 3,000 euros
2nd prize - 2,000 euros
3rd prize - 1,000 euros
Sign up for Hackathon
Are you creative, innovative? Do you have an idea how to improve digital banking and payment services in Montenegro? SIGN UP by 15 October 2021!