Financial inclusion is the cornerstone of meaningful and sustainable small business growth in South Africa. For the country’s SMEs to successfully expand, create employment opportunities, and further SA’s economic development, tailored, digitally-advanced financial solutions are essential.
Nedbank will unpack solutions to achieving greater financial inclusion at its 2023 Innovate Hackathon that will be held on 1 to 2 December at the Nedbank Rivonia Campus in Sandton.
Driving Financial Inclusion
The Innovative Hackathon, will be hosted by Nedbank in partnership with Make.dev, a spinout of OfferZen. Make.dev helps businesses engage with the community in meaningful ways. The event will be offer a unique occasion creating a connection between tech innovation and real-world application.
Contestants in the Hackathon will be expected to present a working proof-of-concept (POC) showcasing a feasible solution that utilises Nedbank APIs.
Bringing Together Talented Developers
According to Chipo Mushwana; Executive, Emerging Innovation, Nedbank Retail, the Innovate Hackathon is an opportunity for the country’s talented developers to conceptualise, design and deliver cutting-edge AI solutions to help drive the ambitions of small businesses in South Africa.
Opportunity to Creative Innovative Financial Tools
The primary focus of the Hackathon is on creating innovative AI-powered financial tools to help propel South African SMEs to new heights.
Participants will have the unique opportunity to access Nedbank’s banking APIs, including its leading PayShap API, to develop solutions that streamline the process of accessing financial services for small businesses and ensure a hassle-free experience when they open accounts or seek credit from the bank.
The hope is that the participating developers will also produce some highly inventive financial management tools that can help SMEs effectively track their income, expenses, and profits, and provide them with faster and safer payment alternatives that prioritise transactional ease.
Aretha Cooper, Co-founder of Make.dev, believes that by collaborating with Nedbank, Make.dev can support developers to contribute to the growth of the South African economy. “The Innovate Hackathon provides a unique opportunity for the South African developer community to get access to the latest banking APIs and collectively build impactful SME solutions”