Fresh ideas and new initiatives are born within strong self-organized teams. For this reason, hackathons represent a great way for companies, especially those engaged in the FinTech world, to leverage their employees’ creativity and abilities to create something of tremendous value for both the company and the larger community. A recent hackathon held at Ak Bars Digital Technologies demonstrates the value of hackathons.
The company held a three-day hackathon to find new technologies for the company’s FinTech solutions. By providing round-the-clock access to the office and allowing teams to freely work on the ideas, technologies, tools and roles they wanted, the company was able to create a unique and creative environment that led to 8 new ideas being developed. Although there was a winning team selected, the goal of the hackathon was to develop a number of ideas that can be further developed. To this end, Ak Bars Digital Technologies’ hackathon was a great success as all 8 ideas that came out of it will, to some extent, be used in the development of an online bank and its future products.