Woori Bank Hosts Ontact Hackathon Awards Ceremony... 15 Teams Awarded

Woori Bank held the awards ceremony for the "On-tact Hackathon Competition" non-face-to-face on the 7th at the Woori Bank headquarters located in Jung-gu, Seoul. Kwon Kwang-seok (center), President of Woori Bank, Jo Byung-kyu (right), Head of the Management Planning Group, and Hwang Won-cheol (left), Head of the Digital Finance Group, are taking a commemorative photo.

[Asia Economy Reporter Kim Jin-ho] Woori Bank announced on the 9th that it held the awards ceremony for the ‘Woori Bank Ontact Hackathon Competition,’ a gateway for prospective entrepreneurs dreaming of fintech startups.

Unlike traditional financial sector hackathon competitions, this event not only awarded winners but also continuously supports a stable environment to enhance technological completeness through ▲exemption from document screening during recruitment ▲provision of technical spaces ▲professional recruitment.

A total of 86 teams applied, exceeding initial expectations, and 40 teams participated in the finals after document screening. From the 30th of last month to the 3rd, the competition was held under the theme of ‘Innovative services leading digital finance,’ utilizing Woori Bank APIs and AI technologies from AWS (Amazon Web Services).

Judges composed of bank and external digital experts comprehensively evaluated completeness, creativity, and business feasibility.

The grand prize was awarded to the ‘Woopy’ team, which introduced a transparent and simple allowance management service for children. The excellence award went to ‘DoubleSAP,’ which presented a part-time job payment and receipt service targeting young adults starting their careers. In total, 15 teams were awarded, including 3 excellence awards and 10 encouragement awards.

The 15 winning teams will enter UniqueOn, a technical development space located near Nonhyeon Station in Gangnam-gu, Seoul, this month to begin full-scale technical development. Outstanding development teams are expected to be recruited as professionals by the bank.

President Kwon Kwang-seok said, “We will continuously support prospective startups with excellent technology and creative, innovative ideas to grow stably,” adding, “We will continue to discover prospective entrepreneurs and cheer them on to grow into unicorn companies with strong technological capabilities.”