ASNB, Jewel Digital Ventures launch virtual hackathon

• Co-organised with 1337 Ventures
• To encourage innovation, fintech software development

Amanah Saham Nasional Berhad (ASNB), the wholly-owned unit trust management company of Permodalan Nasional Berhad (PNB), and Jewel Digital Ventures Sdn. Bhd. (JDV), the wholly-owned subsidiary of PNB to spearhead its digital business strategy, launched a joint digital hackathon, Hack-A-Tech 2022. 

In a joint statement, the companies said this hackathon which is co-organised with 1337 Ventures Sdn Bhd will be held from Oct 14 to Oct 16, and is aimed at encouraging innovation and software development in financial technology (fintech). 

The final demo day on Oct 29 will focus specifically on fintech ideation and development, they added.

The Hack-A-Tech 2022 event will bring fintech leaders and technology partners to collaborate with talents from various disciplines. The challenge is divided into two categories namely:

• Open Track: Open to developers, product designers, first-time hackathon participants, students, and university or innovation labs to improve or introduce new digital functionalities, features, and product offerings; and
• Advanced Track: Open to start-ups interested in integrating and co-creating new products and services.

According to chief executive officer and executive director of ASNB Muzzaffar Othman, the Hack-A-Tech event will be an exciting platform for the company to encourage and invite strategic partnerships or collaboration with the fintech industry. 

“ASNB is proud to play a key role in the lives of Malaysians seeking to protect and grow their wealth for themselves and future generations having been in the industry for more than 40 years.

“We remain customer-focused, continuously optimising customer experience with the help of technology that personalises product offerings or services,” said Muzzaffar.

Chief technology officer of JDV Azrul Rahim said JDV prioritises innovation at the core of everything it does as it believes in staying ahead of the curve by preparing for the future. 

“The ecosystem players can be an excellent trove of knowledge and information in how we can develop products or services even better as we promote the development of cutting-edge technologies,” he said.

Azrul said exploring concepts, tools or approaches to solve problems with all participants and deliver products in addition to learning from the Hack-A-Tech event is most anticipated.

During the event, participants are required to disrupt the fintech landscape, and the winning teams stand a chance to win up to US$85,800 (RM391,000). 

The top three teams in the Open Track will receive US$2,196 (RM10,000), US$1,098 (RM5,000), and US$658 (RM3,000) respectively. 

Meanwhile, the top three teams in the Advanced Track will receive US$10,900 (RM50,000), US$2,196 (RM10,000), and US$1,098 (RM5,000) respectively.

Top startups from the Advanced Track will also be awarded grants of up to US$21,900 (RM100,000) each to help them further develop their solutions.

Both parties said participants may participate in the Hack-A-Tech 2022 event individually or as part of a team of two or three members. 

They added that throughout the event, all participants will learn about the state of the fintech landscape through a series of topical workshops, ideate using design thinking, and hack to create a prototype that addresses a fintech problem statement. 

Key industry leaders from the public and private sectors will host office hours and mentoring sessions, they said.

Founding partner of 1337 Ventures, Bikesh Lakhmichand (pic), said the hackathon is intended to bridge the gap between start-ups and corporate entities in Malaysia. 

“We hope to attract innovative problem solvers who will shake up the financial sector, while also encouraging corporates to tap into disruptive entrepreneurial innovation from start-ups or aspiring founders,” he added

The Hack-A-Tech 2022 is supported by the Fintech Association of Malaysia (FAOM), Malaysia Digital Economy Corporation (MDEC), Microsoft and UNIRAZAK, who will bring significant values in assisting startups with advisory, technical and productivity tools support. 

Participation in the virtual hackathon is free and the closing date for registration is 1 October 2022.

Click here for further details.