Manipal Institute of Technology (MIT), an engineering college of Manipal Academy of Higher Education (MAHE), has secured the first runner-up position in the American Express CodeStreet Hackathon national challenge with the theme Open Banking.
Over 9,000 students participated in the hackathon from August 13 to October 8.
In all, 10 teams were selected after the ideation phase. The 10 teams had to develop prototypes between September 24 and October 8, with guidance from a mentor from American Express, a release from MAHE said.
The team, Ipseity, from MIT comprising four students Mini Shail Chhabra Praseedha, Praveen Kalbhavi, Pratyaksh Gupta and Shreya Tewari worked on the theme of Open Banking with an ideology of One world one identity. They worked and brainstormed to bring a proposal of a multi-purpose identity card with all identities united at a single place, being powered and entrusted by blockchain technology.
Director of MIT Anil Rana said: “MIT students keep showcasing their true talent which motivates teachers to work hard for them and aim at providing them the best exposure to participate in such prestigious platforms.”
The CodeStreet is American Express’ annual hackathon that provides coders an opportunity to showcase their technical skills by solving the latest tech riddles in the Fintech industry.
The event consisted of three themes, Open Banking: identity on demand, Cyber Security in financial services and Monitoring hotspots in distributed computing.
The MIT team presented the prototype on October 8 to a panel of four judges, the release added.
