Nedbank hackathon calls for SME AI innovations

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 16 Nov 2023
The Nedbank Innovate Hackathon will kick-off on 1 December.
The Nedbank Innovate Hackathon will kick-off on 1 December.

Local big-four bank Nedbank is hosting its 2023 Innovate Hackathon in partnership with The event will take place on 1 and 2 December at the Nedbank Campus in Sandton.

According to the bank, the focus is on creating innovative artificial intelligence (AI)-powered financial tools to help local SMEs with issues such as tracking their income, expenses and profits, and providing them with faster and safer payment alternatives that prioritise transactional ease.

Participants have the opportunity to access Nedbank’s banking application programming interfaces (APIs), including its PayShap API, to develop their solutions.

Chipo Mushwana, executive of emerging innovation at Nedbank Retail, says the 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 SMEs in South Africa.

"We recognise the transformative potential of technology in addressing the unique challenges faced by small businesses. This hackathon represents the tangible delivery of our commitment to foster an environment of creativity and practical solution development,” comments Mushwana.

To enable the successful expansion of the country's SMEs, create employment opportunities and further SA's economic development, digitally-advanced financial solutions are essential, says the bank.

Nedbank notes it is looking for creative solutions that embed payment and savings functions with minimum friction and maximum automation, enhance financial management and strategic planning, and provide concise, impactful financial advice and strategic planning., which is a spinout of OfferZen, specialises in creating developer experiences and opportunities for the South African developer community.

Aretha Cooper, co-founder, believes that by collaborating with Nedbank, the company can support developers contributing to the growth of the South African economy.

“The 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,” adds Cooper.

Contestants will be expected to present a working proof-of-concept to the judges, showcasing a practical solution.

Participants will gain insights into Nedbank’s banking technology, deepen their understanding of SA’s business landscape and have the opportunity to harness the capabilities of GPT4, says the bank.

Interested developers can visit for more information.