Carolina Fintech Hub (CFH) and The Clearing House (TCH) are partnering to create the first ever Real Time Payments Hackathon
Carolina Fintech Hub (CFH) and The Clearing House (TCH) are partnering to create the first ever Real Time Payments Hackathon. The idea? Provide companies, startups, and students with the Real Time Payments infrastructure so they can dream up innovative business cases, products, and platforms of the future.
We believe this event will serve as a unique, collaborative “R&D” session for participantes not only to dream up the future but share creative solutions to solve unmet market needs. In addition, we’ll have teams from banks, insurance, and tech companies. This industry convergence represents a broader trend in the ecosystem and the power of payments.
Team will have 2.5 weeks to create and present their most innovative idea in one of four challenge areas. The winning team from each category will present at TCH’s national conference in June and be recognized by national payments & fintech leaders.
We look forward to corporate, startup, and students teams from across the country pushing payments in to the future.
Challenges & Rewards
Four Challenges Areas
Best B2B Solution: There are a lot of payments that go between businesses. B2B’s challenge to create a solution that would change the relationship between businesses thru payments.
Best Consumer Solution: Consumer payments certainly has a lot of innovation but the RTP rails open up a new set of tools to continue evolving consumer payments.
Enabling the Next Digital Native Business: Digitally native businesses are changing everything from banking, mattress buying, and renting our homes - how could RTP’s powerful payment rails enable entirely new, digitally native businesses thrive?
Backoffice Improvement: Large enterprises deal with large volumes of payments. How could the inner workings of a company change with RTP’s capabilities?
Rewards & Winners
One winner from each category will be selected by national payments experts. The winner of each category will present at The Clearing Houses’ Payments Perspective Conference on June 25th.
Timeline & Team Making
Timeline
Registration Closes: April 30th (Midnight)
May 1st - May 16th - Education sessions, webinars, and preparation time for teams before they have access to the RTP Platform. We want to ensure everyone understands the technical background before “Plug In Day”
May 17th - Plug In Day where teams can access all the technical infrastructure and begin building their prototypes
Carolina Fintech Hub, TCH, Oracle, and Yodlee will provide Office Hours and Troubleshooting Help during the 2.5 week hackathon
June 5th -Submission Deadline
June 10th - 4 Finalist Announced
June 25th - Finalist Present in NYC and Overall Winner Annouced
Team Makeup
3 - 5 People
Suggested Team is 2 Technical, 1 Payments Expert, 2 Business
Teams can be made up of people from the same company, cross-company, or individuals
Submission & Judging Criteria
Teams will be expected to submit:
Executive Summary of Product
Link to working Prototype of Product
Technical Infrastructure
The Clearing House, Oracle, and Yodlee are providing the technical infrastructure for teams to leverage during the hackathon. Detailed documentation, education, and API information will be provided before the Hackathon begins.
Individual teams will be responsible for their code, code repository, and any other non-payments & banking infrastructure.
About Envestnet | Yodlee
Envestnet | Yodlee® offers APIs to aggregate user-permissioned consumer financial accounts and instantly authenticate accounts to make transferring funds easier. Participants will have free access to our Platform API for Account Aggregation and Account Verification use cases through our developer portal. Use the Envestnet | Yodlee API to access rich financial account and transactional data to build innovative financial apps and online banking solutions.