PayHack 2024
Open Finance is an ecosystem that allows the seamless exchange of financial data through secure, standardized and excrypted connections using APIs. This opens a myriad of exciting opportunities which enables users to aggregate multiple sources of financial data into a single place for innovators like you to create new exciting use cases.
PayHack 2024 Open Finance Hackathon aims to promote Open Finance in Malaysia; to create an inclusive, innovative and customer-centric financial ecosystem through technology. We're inviting the best and brightest minds to come show us what you got. Teams will be shortlisted in batches, so apply early.
Application closes on 20th November 2024.
Hackathon Timeline
Apply as a team of 3-4 pax by filling up our form. All teams; both professionals and students will compete in the same track. Only 100 teams will be invited to join the hackathon.
The Virtual Hackathon will begin on Saturday, 23 Nov at 9.00am with the full details to kickoff the projects, ending with the selection of Top 30 semi-finalists on Sunday, 24 Nov at 5.00pm.
The Top 30 teams will be invited to join the 24-Hour Physical Hackathon. There will be a virtual Pre-Hack Briefing on 25 Nov for all selected teams to prepare for the main event.
The Physical Hackathon will begin on Saturday, 30 Nov at 8.00am. The Top 30 teams will pitch it to our judges live, ending with the Grand Finals for the Top 10 on Sunday, 1 Dec.
APPLY NOW
Why You Should Join
You're here to bring to life a new category of fintechs that aims to help users simplify their financial services through better access, education and control. Discovering innovative new solutions and winning cash prizes is definitely great, but opportunities to implement these solutions in the real world or turn it into a business is way more exciting. Here are some of the many benefits of joining this hackathon:
Startup Opportunity
Develop your prototype solution further and launch it with the support and recognition of PayNet, to kickstart your own fintech startup.
Career Opportunity
Showcase your talents in tech, business or marketing so that you may explore job opportunities with PayNet & ecosystem partners.
Networking
Benefit from great networking opportunity with industry experts and professionals from PayNet and the Malaysian fintech ecosystem.
The Challenges
Here are the challenges you can tackle for this Hackathon. Please select one of the following challenges for your team. You may tackle more than 1 challenge in your project but it's not a must.
Personal Financial Management (PFM)
How can we use access to CASA (current & savings accounts), term deposits, credit cards, loans and transaction data across banks to create more data-driven financial solutions tailored to customer needs?
Additional Data for Credit Risk Assessment
How can we use access and aggregation of deposit balances, outstanding loans and transactions across banks and e-wallets to enable more efficient loan approvals for an alternative segment of users?
Fraud Detection & Prevention
How can we use access to customer data and real-time analytics across banks to verify identities, detect financial fraud patterns and implement measures to actively prevent fraudulent activities?
APPLY NOW
The Prizes
Twenty Thousand Ringgit in Cash, Trophies & Winners Certificates.
Ten Thousand Ringgit in Cash, Trophies & Winners Certificates.
Five Thousand Ringgit in Cash, Trophies & Winners Certificates.
One Thousand Five Hundred Ringgit in Cash & Finalist Certificates.
One Thousand Five Hundred Ringgit in Cash.
Frequently Asked Questions
Fill up the application form with your full team details and introduction. Assemble a team of 3-4 members, including at least 1 member with coding abilities. All participants must be 18 years and above. Only the shortlisted teams will be invited to join the Hackathon. We don't accept any individual participants.
You can, as long as you have at least 1 member with coding abilities in your team so that you can build and submit a working prototype. A team with diverse capabilities will have a great advantage.
Yes, this hackathon is open to everyone above 18 as long as you are currently residing in Malaysia with a valid PR or work/student visa.
No, unfortunately PayNet employees and affiliates are not eligible to participate in this Hackathon.
Yes, for the Physical Hackathon all the Top 30 Teams will be REQUIRED to attend in person from 30 Nov - 1 Dec 2024 at Asia School of Business in Kuala Lumpur. All team members need to be present.
This is a 24-Hour Hackathon so teams will be expected to be at the venue overnight. Bring your own sleeping bags or pop-up tents for power-naps! We will provide full meals, freeflow snacks and beverages to ensure you can complete your projects!
None! This programme is completely FREE for all eligible participants. The organisers will take care of everything you need to ensure you have a great hackathon experience.
Round 1 will be a 24-Hour Virtual Hackathon and the Finals will be a 24-Hour Physical Hackathon that begins on Saturday, 30 Nov at 8:00am and ends on Sunday, 1 Dec by 5:00pm with the Top 10 demo day.
We want highly innovative and practical solutions, with originality and good design. We will also evaluate the business value of the idea and technical ability of the team members to execute the project. Of course, they need to be highly relevant to the problem statements.
All the relevant information are available on this website, including the Terms & Conditions page. We will also share the latest updates and announcements on the JomHack Facebook Event Page. Or you can contact us at [email protected]
APPLY NOW