Team WonderTech grabbed the grand prize at the recently concluded Finastar fintech hackathon held in Finastra Universe, New York, United States. By using the company’s open APIs on FusionFabric.cloud, the Manila-based team developed the “Agree Farm App” from among five category winners.
Team WonderTech consisted of four young professionals and university students in Manila including Vaniza Dagangon, Clyde Palattao, Michael Puzon, and John Robert Tubale.
Using Finastra’s payment APIs, in combination with third-party industry APIs, the team built the working prototype in just a few weeks, proving the speed and simplicity of FusionFabric.cloud. The app, which aims to connect rural farmers in the Philippines with access to bank loans, was chosen by an audience of senior professionals representing financial institutions.
More than 1,000 individuals, including data scientists, developers, and engineers, from across 38 countries participated in the “Hack to the Future” hackathon. Inventing over 240 innovative new apps, the hackathon teams harnessed new technologies, with more than 40% of the hackathon submissions using Machine Learning.
“Team WonderTech and all of the category winners have demonstrated an incredible ability to understand the needs of the market and have shown that the future of finance is truly open,” said Shuki Licht, Chief Innovation Officer at Finastra. “Fintech is one of the hottest growth and innovation areas, with some serious investment from banks, private equity, VC and government.”
The five category winners will have the opportunity to continue refinement of their apps, for promotion in Finastra’s FusionStore. The complete list of category-winning apps includes:
- Future of Capital Markets: Stratl
- Future of Corporate Banking: Accenture, with IN-CRE-D (Intelligent Credit Decisioning using AI) app
- Future of Payment & Banking for a Better Future: WonderTech, with Agree Farm App
- Future of Retail Banking: ING, with Financial Assistant on FB Messenger app
Best App by an Established Fintech: Manager.one