Financial inclusion is the cornerstone of meaningful and sustainable small business growth in South Africa. For the country’s SMEs to successfully expand, create employment opportunities, and further South Africa’s economic development, tailored, digitally-advanced financial solutions are essential.
Nedbank aims to deliver these solutions at its 2023 Innovate Hackathon, to be held on 1 and 2 December at the Nedbank Rivonia Campus in Sandton.
The Innovate Hackathon is hosted by Nedbank in partnership with Make.dev, a spinout of OfferZen.
According to Chipo Mushwana; executive, emerging innovation at Nedbank Retail, the Innovate Hackathon is an opportunity for the country’s talented developers to conceptualise, design and deliver AI solutions to help drive the ambitions of small businesses in South Africa.
“We recognise the transformative potential of technology in addressing the unique challenges faced by small businesses,” Chipo says. “The Hackathon represents the tangible delivery of our commitment to foster an environment of creativity and practical solution development.”
The primary focus of the Hackathon is on creating AI-powered financial tool tools to help propel South African SMEs to new heights. Participants will have the opportunity to access Nedbank’s banking APIs, including its PayShap API, to develop solutions that streamline the process of accessing financial services for small businesses and ensure a hassle-free experience when they open accounts or seek credit from the bank.
Contestants in the Hackathon will be expected to present a working proof-of-concept (POC) showcasing a feasible solution that utilises Nedbank APIs. While perfection and final development are obviously not the goal, the practicality and potential of the proposed solution will need to be evident for the concept to be considered by the judges.
In addition to the chance to win some great tech prizes and AVO vouchers, participants will gain insights into Nedbank’s world-leading banking technology, deepen their understanding of South Africa’s business landscape, and have the opportunity to harness the capabilities of GPT4 for innovative, real-world problem-solving.