40 LTS students from Level One and Level Up groups teamed up to build FinTech solutions for better world
The use of innovative digital technologies in the financial services continue to change the traditional banking system. Instead of in-branch banking, now customers can perform transactions, investments, payments and more, using different online banking or third-party platforms and applications. In recent years online banking gained huge popularity, becoming the primary method to many bank customers for accessing their bank accounts.
Despite the remarkable advancements in the FinTech industry, there are still many open challenges to tackle.
From 1st to 3rd July, the Luxembourg Tech School, in partnership with the Fondation ABBL and the Luxembourg House of Financial Technologies (LHoFT), held a hackathon where 40 LTS students, aged between 15-19, teamed up to design and build FinTech solutions around the topic of Smart Banking for Life.
During the hackathon the teams came up with 10 different digital products ranging from e-banking and smart bank assistants to financial education platforms. To achieve their goal in such a short amount of time the students got the opportunity to meet industry experts who helped them shape and finalise the project idea. Moreover, the students are supported by the LTS coaches during entire duration of the hackathon.
After working for about 21 hours, the hackathon concluded with a pitch competition. The innovative and creative solutions of the students impressed the audience and the expert jury, composed of Nasir Zubairi, CEO of the LHoFT Foundation, Analia Clouet, Secrétaire Général de la Banque Raiffeisen, Max Gindt, AI, New Tech @ Department for Media, Connectivity & Digital Policy of the State Ministry and Jerry Grbic, CEO of ABBL.
After deliberation, the 3 winners were:
1st place – Vodoo: A Fintech application for creating custom action in user’s banking account. It helps users automate certain tasks and transactions based on custom conditions.
2nd place - L.A.R.A: An educational banking application to help beginners advance their knowledge about finances to optimize their financial choices
3rd place - Pig-E Bank: An electronic bank to help young adults organise and manage their expenses responsibly.