Fintech is seeing rapid takeup with new technology solutions such as FAST (fast and secure transfer), the blockchain, peer-to-peer banking, and more. IDA is keen to explore technologies and its potential solutions for a Smart Nation further. For example, in December 2015, IDA showcased the world’s first application of distributed ledger technology to detect fraudulent multiple invoice financing in a proof-of-concept with Standard Chartered Bank and DBS Bank.
IDA Assistant Chief Executive Khoong Hock Yun said, “Singapore’s Smart Nation journey must be done in co-creation with the public. We continue to encourage our youth to be engaged with and understand technology, code and utilise tech. This will equip tomorrow’s talent with the necessary skills, and for our 10th anniversary edition of Code::XtremeApps:: we are proud to explore the growing trend around financial technologies.”
ITSC Chairman Yap Chee Yuen said, “We are proud to have reached the tenth anniversary of Code::XtremeApps:: and its standing as one of Singapore's best 24-hour and kid's hackathon events. Our commitment to ensuring participants dream big, create innovative solutions and engage in and with the latest technologies, coding and programming has seen great results from both young and old. This year’s focus on financial technologies will continue our tradition of exploring and familiarising youth with the latest technologies as they co-create with Singapore on its Smart Nation journey.”
SPRING Assistant Chief Executive (Quality & Excellence) Choy Sauw Kook added, “Standards play a crucial role in enabling emerging industries such as fintech. The Standards Award at CXA provides a good foundation for students and working professionals to understand how standards support fintech through enhancing interoperability, cyber and data security, and user safety. This can help participants implement quality practices and knowledge as a strategic business tool in their current and future workplaces.”
SPRING Singapore Standards Award
In conjunction with the 50th anniversary of the Singapore Standardisation Programme, SPRING Singapore is involved for the second year to extend the Standards Award category. Open to the School and Open Category participants, the SPRING Standards Award category will award extra points and recognise one winning team which demonstrates the best understanding of how standards play a role in fintech solutions to ensure interoperability, cyber and data security, and user safety.
The winning team will receive a Standards Award trophy and certificate, along with a cash prize of S$1,000. Submissions will also form part of the overall score for teams. The special award aims to raise awareness of how standards can support innovations for commercialisation and user adoption; it also aims to inculcate a deeper understanding of how common standards make systems and applications interoperable, such as by enabling new payment technologies to reach its fullest potential. The deadline for this special submission closes on July 8.
In addition, CXA has partnered with the Monetary Authority of Singapore (MAS) in a special collaboration in conjunction with the Singapore FinTech Festival 2016 to be held in November 2016. Open Category participants who create proof-of-concept solutions related to MAS’ challenge statements may be considered for direct entry to the Global FinTech Hackcelerator finals to be held during the Singapore FinTech Festival.
Interested?
CXA has three tracks – a three-hour Junior Category, as well as a 24-hour School and Open Category. Registration is open from May 2 and the competition will be held on 29 and 30 July 2016.
The theme for the Junior Category will be The Piggy Bank Revolution, to be held on July 30. Open to youth in primary schools or those aged 12 and below, this category uses the child-friendly technology Scratch to encourage youth to experiment, explore and learn about basic coding.
The theme for the Junior Category will be The Piggy Bank Revolution, to be held on July 30. Open to youth in primary schools or those aged 12 and below, this category uses the child-friendly technology Scratch to encourage youth to experiment, explore and learn about basic coding.
The School and Open Category will focus on FinTech: The Next Ten Years. The competition will be held on July 29 and 30 in a 24-hour, overnight hackathon format. Students ranging from secondary up to pre-university education are eligible for the School category. The Open Category is available to enthusiasts of all ages, including teams from polytechnics, universities and Institutes of Technical Education.
Each team will receive a set of challenges based on the theme at the start of the 24-hour competition, from which they will be required to complete at least one challenge. They are free to use any technologies, including those offered such as cloud platforms and open source technologies.
CXA is unique in its buildup by offering a month of training classes to help ensure participants understand how to use the technology before the competition. These classes are catered for all levels, and can range from programming to hands-on with emerging technologies. This enables budding and current developers the perfect opportunity to share and learn more, as well as develop the seeds of innovative solutions.
CXA is unique in its buildup by offering a month of training classes to help ensure participants understand how to use the technology before the competition. These classes are catered for all levels, and can range from programming to hands-on with emerging technologies. This enables budding and current developers the perfect opportunity to share and learn more, as well as develop the seeds of innovative solutions.
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