Hack The Core: CeleritiFintech Readies for July Hackathon

There’s a month and a half to go before CeleritiFinTech (CFT) launches its first core banking hackathon, CFT Hack the Core. And if you’re a fintech developer or startup looking to partner with a leading core banking provider in financial services, CFT Hack the Core on July 14 – 16 in San Ramon may be the moment you’ve been waiting for.

Most financial services have a Fintech strategy which involves collaborating with all kinds of Fintechs – disruptive and enabling startups,” CeleritiFintech’s CEO Oded Shoshany said. “CFT is enabling a direct Core API connectivity, as we realize that collaboration with financial services and licensing or white-labeling startup innovation represents a significant market potential for Fintechs and Banks,” he added.

Based on CFT’s high-performance Hogan core banking software and its APIs, events like CFT Hack the Core can be important stepping stones for emerging fintech startups. Faced with the dual challenges of long sales cycles in the financial services industry and the lack of domain expertise and overall knowledge of the environment, even the most innovative startups can struggle to get their technologies seen by the right people in the right places. By contrast, partnering with companies like CeleritiFinTech enables startups to leverage existing CFT relationships with financial services companies as well as take advantage pre-integration measures that save time and cut red tape.

As part of the competition, CeleritiFinTech will offer up to 20 startups access to more than 25 of its banking APIs. These tools will enable competitors to build exciting and innovative solutions for banks and their customers in challenge areas such as API banking, customer service, and payment innovation. Hackathon winners will also earn invitations to work with the iValley Fintech Market Readiness Accelerator run by iValley Innovation Center and powered by CeleritiFinTech. Here they will refine their solutions ahead of a Demo Day event during CeleritFinTech’s Core Banking Innovation Summit in early 2018. The six-month long accelerator program runs from August 2017 through January 2018, and provides mentoring, office space, and other resources to help startups further develop their technology toward minimum viable product status. Accelerator participants will also benefit from monthly workshops with industry experts, and business and go-to market strategy development, as well as fundraising advice and networking with investors.

Applying to CFT Hack the Core is easy. Visit the Hackathon registration page at http://www.celeritift.com/events/hackathon, provide contact information, a description of your idea and how you plan to partner with CeleritiFinTech’s core banking system, your preferred challenge area, your startup stage (early stage, seed or Series A, growth, etc.) and that’s it.

“The CFT Hack the Core provides a unique opportunity for Fintech startups to pre-integrate with Core Banking, Loan or Payment Microservices and showcase their value proposition to leading financial institutions,” said Paddy Ramanathan, Managing Director at iValley Innovation Center. “This type of creative partnerships for FIntechs with innovative providers like CFT has the potential to rapidly accelerate their growth and reduce customer acquisition costs. Embracing this new-core with pre-integrated Fintechs provides financial institutions the much-needed operational agility to compete with disruptive Fintech value proposition. It is a win-win for everyone.”

CeleritiFinTech is a specialist in helping banks, credit unions and other financial services businesses leverage advanced core banking technology to modernize their operations. Launched as a joint venture by global IT giants HCL and DXC Technology (formerly CSC) in 2015, CFT is focused on ensuring FIs are able to maximize the way they use their existing platforms while implementing new solutions and services designed to accelerate growth. CFT leverages software and product development talent from DXC Technology and capital investment, application implementation and more from HCL, to bring cloud-based, advanced core banking services and solutions to a widening group of partners in financial services.

With the Hogan Core Banking System, CeleritiFinTech provides a high-performance core banking software platform that provides real-time, cross channel engagement via an integrated suite of applications. Featuring real-time processing and mobile and online access, the Hogan Core Banking System was used by top tier banks in the United States and globally. 

So if helping banks and credit unions gain “flexibility, efficiency, and value for money” aligns with the mission statement for your fintech startup, then we’ll look forward to seeing your application to CFT Hack the Core, the Hogan Core Banking System Hackathon sponsored by CeleritiFinTech, July 14 through July 16 in San Ramon.