Deutsche Bank

API/Open

The jury at the API/Open was impressed by the high quality of all the pitches and the creativity of most teams in truly going beyond banking.
The API/Open is over! After 42 hours of coding and development, the hackathon ended yesterday evening with the announcement of the winners. You could feel the tension in the hall during the closing ceremony yesterday, even though everyone was trying to sound relaxed and look happy. Each team had four minutes to present their results to the jury. That meant focusing on the essentials – dividing up tasks among team members, recording progress and, in between, repeatedly seeking advice from the bank’s experts on compliance, legal and privacy guidelines.

At the hackathon, Sasan Hashemi for example subjected himself to that level of scrutiny. The 25-year-old company founder from Vienna developed the Flattr app with five partners. The app is meant to help flatmates make shared transactions, such as buying a new dishwasher for the shared flat or even just when buying weekly groceries together. With the help of our Design Thinking workshop and the pitch training on the hackathon, Hashemi, learned to check even more precisely whether there is a sufficiently large group of potential clients and how he can best target those clients through storytelling to ensure successful sales direct to the real needs of potential clients.

Winning app a comfort catalyst for clients who are relocating

In the end, the smart resident of Vienna and his partners came in second place, taking home EUR 15,000 at the hackathon. It was a tight race between all three of the top-scoring projects. Creativity, the level of technological maturity and value for clients were the criteria used by the international jury chaired by Head of Private, Wealth and Commercial Clients Christian Sewing to pick the winners.

Dwins won first place with their project Finance Guru, taking home EUR 30,000. The app by the team headed by twins Alexander and Benjamin Michel is a real comfort catalyst for bank clients that are moving to a new home or city. Cancelling subscriptions, finding a new electricity provider, reporting the address change to municipal authorities – the app manages all of this based on clients’ banking data with the help of an interface to Google and comparison portals. And all of it is done in compliance with all privacy regulations.

Finchild, represented by Christian Pergande and Christopher Geyer, came in third and took home EUR 5,000. It’s an application that introduces children to careful money management in a practical and illustrative way, and with their parents’ full control. The additionally presented Tech Award, which acknowledges an application’s particular technological maturity, went to the project AutoBudgie by Fireflies, a team headed by Christopher Small. The digital aid ensures that car owners can reliably plan the costs for buying, maintaining and repairing their vehicles.

At their core, all apps receiving an award offer financial planning services and still go far beyond the traditional banking business. And they are giving the bank access to a younger target group that it wants to form long-term business relations with.

As an eagerly awaited surprise, the host of the awards ceremony, Anna-Cécile Vogt, announced that a fifth team would be getting a wildcard, giving the team the chance to explore the possibilities of collaborating with Deutsche Bank in an additional workshop. This wildcard went to the team Wire, represented on stage by Helena Kos and Gregor Herdmann, who developed a special chat bot. While not quite as far beyond banking as the other prize winners, it has the potential to improve on what already exists within the bank.

In the end, Christian Sewing stressed again how important it is to explore new territory: “The financial sector will change fundamentally. This weekend, we have passed another important milestone in Deutsche Bank’s transformation into a technology group.”

Share this post