Israeli bank invites developers to FinTech Hackathon

Israel based bank Bank Leumi is joining the startup/hackathon fad and is inviting developers to come to Tel Aviv and build Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term based apps for a chance to win prizes.

The 36 hour hackathon is scheduled for October 22-23, and came together through Bank Leumi’s subsidiary, LeumiTech in cooperation with software company Salesforce and event organizer BeMyApp.

Israel has been known as a hotbed for startup culture and innovation. The Middle Eastern country has churned out industry leading solutions such as ICQ Messenger (later AIM), the flash memory thumb drive, and the immensely popular Waze navigation app.

Over 150 developers, programmers, entrepreneurs and designers from all over the country are expected to participate. The hackathon’s focus will be on online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, UX improvements, social media, SMB promotion, gamification, and the 'Internet of Things'.

All attending developers will have access to Bank Leumi and Salesforce DEV environments and APIs, as well as have current senior developers act as mentors to participating “Hackers”.

"The idea behind Leumi Hackathon is on the one hand to allow external entities - and in fact the general public - to express their opinions and generate ideas, and on the other hand to provide a platform for developers and entrepreneurs that will enable them to develop banking apps that address specific customer needs," stated Danny Yerushalmi, Head of Leumi Technologies.

At the end of the 36 hour period, each participating team will have 5 minutes to present their solution in front of a panel of judges made up of Leumi senior managers, fintech investors and Salesforce reps. Top prize is 50,000 ILS (Roughly $14,500), with MacBook Airs and Google Nexus 7s being second and third place prizes respectively.