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NIBSS Hackathon 2018: ₦3 Million Prize on Offer for Software Developers

The Nigerian Inter bank Settlement System (NIBSS) is inviting software developers to pitch their ideas at its maiden Hackathon, for a chance to win ₦3 million. If you’ve devised a personal identification system that could work as part of a fintech infrastructure, you might consider entering for it.

The NIBSS Hackathon is being organized with the aim of discovering new biometric solutions which could help improve the security of Nigeria’s financial services system. In accordance with this, the event is themed Biometrics: Key to Future and Inclusion. NIBSS says it’s doing this as part of its drive to strengthen biometrics-based security for financial transactions in the country, in line with a global trend in this direction.

The event will attract persons interested in or actively involved in technology. They’ll be learning and sharing innovative ideas and working to bring them to life. The contest’s organizers are expecting that the Hackathon- or invention marathon, as they’ve dubbed it -will see the emergence of products that open Nigeria’s technological space to new possibilities. Prizes will be awarded to individuals adjudged to have presented the best ideas.

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Eligibility

There’s no age limit on participation in this competition. If you’re a Nigerian, you’re eligible to have a go at it.

In specific terms, NIBSS is requesting entries from teams that are able to do the following:

  • Create a finger print authentication and validation system.
  • Devise a payment innovation by deploying fingerprint identification and authentication systems.
  • Collaborate with partners, such as banks and fintech companies

NIBSS is especially keen on solutions that are creative, unique and viable. The products turned out by participating teams must meet the following conditions:

  • User-friendly
  • Accurate identification
  • Safe, secure and saves time
  • Convenient, with multiple functionalities
  • Scalable

Teams adjudged to have the best solution will receive a winning prize of ₦3 million. There will also be prizes for the first and second runners-up who will be getting ₦2 million and ₦1 million respectively.

How to Participate

You can enter the NIBSS Hackathon by registering on the competition’s website. If your entry is deemed suitable, you’ll be called up and led through the steps you should take to develop the applications for the main pitch.

NIBSS is responsible for maintaining Nigeria’s interbank payments infrastructure. It is jointly owned by the Central Bank of Nigeria and all Deposit Money Banks. The NIBSS Hackathon, organized in partnership with Digital Jewels, forms part of its efforts to promote secure payments systems for Nigeria’s financial services sector.

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Ikenna Nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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