Finastra Announces Winner of Hackathon to Tackle Fiserv Bias
Finastra has announced the winner of its recent hackathon – Hack to the Future 3. Launched to help build an unbiased fintech future, the event saw more than 600 participants from 50-plus countries, including Antarctica. Prizes up for grabs included cash, as well as incubation and internship opportunities from Finastra and some of its more than 40 partners.
The winner is Bloinx, a decentralized application using blockchain technology to help build savings communities by operating as a ROSCA administrator through smart contracts. Rotating credit and savings associations (ROSCA) e.g. tandas in Mexico, enable people with lack of financial knowledge and access to credit cards and bank loans to obtain money quickly through a money-pooling fund.