FinTech Global Hackathon: The most promising ideas from Belarus’ start-ups

By Darya Shakuro, Priorbank Belarus |

More than 100 developers took part in the FinTech Global Hackathon, partnered by Priorbank, that took place in Minsk in September. The hackathon was remarkable for an international high-level jury and participants from Russia, Ukraine, Lithuania and Estonia.

Fotocredit: bel.biz

Within 48 hours developers had to create inventive ways of using IT technologies in the financial field. Twelve teams consisting of programmers, designers, marketers, business analysts and financiers worked on their projects. Key ideas included mobile payments, banking services, asset management and electronic workflow. Blockchain technology was used in many projects, although experts there considered this topic a bit overestimated now.

The team HotSpot, cash flow management software developers, ranked number one. The main idea of the project is a mobile app to analyze purchases after scanning a receipt. The start-up has found a way to group items by categories, for example, food, clothes, etc. As the winning team HotSpot elaborates: “Other similar programs cannot recognize receipts. Users have to add purchases by themselves. With our app, you just have to point the camera at a receipt and then you can view your overall spend analysis. The team will represent Belarus at the international conference “Slush” in Helsinki in December. Together with Priorbank the start-up will develop the app.

Fotocredit: bel.biz

The second prize was taken by the team DC Base. They decided to simplify the electronic workflow with government authorities. Instead of printing documents and transporting them somewhere, the developers offer to use a smartphone. With the help of the program developed by DC Base you can create and send digital copies of necessary documents using blockchain. In fact, you can do it in two clicks. DC Base is awarded with a trip to the international startup conference Latitude59 in Tallinn in May 2019.

Four teams shared the third prize. One of them developed a project that analyzes financial data of companies in order to avoid cash deficiency. Other participants created a service for recruiting people for one-time jobs. This program allows drawing up necessary documents and making payments. Another project is a Telegram-bot (Telegram is a messenger popular in Belarus) that helps to become an individual entrepreneur. It chooses the appropriate system of taxation and assists to register. Additionally, there was a team, which created a platform for investors and traders working on smart contracts. This platform allows reducing investment risks.

The project Sandbox-Z got a special prize. The team invented a financial game for primary school pupils that teaches them to manage money properly. The game is not only about cash, but also about banking products that children can explore.

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