NH Nonghyup Bank Successfully Concludes 'NH Digital Innovation Campus Challenge Hackathon'

57 Teams, 211 Participants Compete in Corporate and General Divisions
Total Prize Money of 25 Million KRW, NH Bank President's Commendation Awarded
Winning Teams Receive Startup Development Support Opportunities
Document Exemption Benefits Provided for New Recruitment Applications

[Asia Economy Reporter Kangwook Cho] NH Nonghyup Bank announced on the 23rd that it successfully concluded the ‘2020 NH Digital Innovation Campus Challenge Online Hackathon.’

A hackathon is a portmanteau of hacking and marathon, referring to a collaborative project in the software development field where related groups work together to produce results.

This competition was held entirely online?from application, pre-education, IT development, to evaluation?considering COVID-19 prevention and social distancing. A total of 57 teams and 211 participants competed in the ‘Corporate Division’ and ‘General Division,’ showcasing original digital services based on AI technologies such as chatbots, image recognition, translation, analysis, and prediction under the theme of ‘Fintech and Artificial Intelligence Convergence.’

The Grand Prize in the ‘Corporate Division’ was awarded to Whatsup, a subscription payment and daily expense management service. The Excellence Award went to CID, which introduced ‘QR OnPay,’ a golf course caddie payment and settlement service. The Encouragement Awards were given to Buen Camino, MyShopCloud, and Happybin, respectively.

In the ‘General Division,’ the Grand Prize was awarded to I’m OK, a navigation-based restaurant and local agricultural specialty product sales recommendation service. The Excellence Awards went to HoP, a peer-to-peer point transaction brokerage platform using smart contracts, and Arcadi, a memory-recording passbook diary service called ‘Saerok Saerok Parenting Passbook.’ The Encouragement Awards were given to Sarangah Nonghyuphae, Direnti, ATM, Seonguan, Seedning, Nabinalda, and REST.

This competition, with a total prize pool of 25 million KRW, awarded 15 teams. Winning teams in the Corporate Division will have the opportunity to participate in NH Nonghyup Bank’s accelerating program ‘NH Digital Challenge+’ and commercialize their projects. Winning teams in the General Division will receive a benefit of exemption from document screening once in five years when applying for new employee recruitment at NH Nonghyup Bank.

Lee Sang-rae, Vice President of the Digital Finance Division at NH Nonghyup Bank, said, “I believe the hackathon competition is becoming a catalyst for innovation in NH Nonghyup Bank’s digital business,” adding, “We will continue to hold hackathons to actively discover fintech and AI technologies applicable to the financial industry and strive to leap forward as a super-gap digital human bank through digital innovation.”

This content was produced with the assistance of AI translation services.