MobiKwik, India’s largest digital financial services company, successfully concluded the second season of MobiKwikathon, called MobiKwikathon 2.0. The 24- hour hackathon, aimed to further encourage innovation within the company, received an overwhelming response from the MobiKwik employees, with participation from over 100 employees. There were 3 key themes at MobiKwikathon 2.0- UPI (United Payments Interface), Big data and Productivity. A total of 35 teams of 3 members each participated in the hackathon that witnessed marathon 24 hour of brainstorming. The teams were evaluated by a panel of esteemed judges, which included Mr. Aloke Bajpai, Co-Founder and CEO, ixigo and Ms. Riddhi Mittal, Co-Founder, Finomena.
MobiKwik is India’s leading digital financial services platform, a mobile wallet major and a leading payment gateway. MobiKwik app is a leading mobile payment platform with a network of over 3 million direct merchants and 107 million plus users. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised four rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments Net1 and Bajaj Finance. The company has offices in New Delhi, Mumbai, Bangalore, Pune and Kolkata. It aspires to be the largest source of digital transactions in India and has a vision of enabling a billion Indians with one tap access to digital payments, loans, insurance and investments, by 2022.
Team ‘Churn Slayers’ were announced the winner of MobiKwikathon 2.0 for their idea based on the theme ‘big data’. The team built a ‘User Churn Prediction Model’ using machine learning and big data. Team ‘Van’ secured the second position for their idea on the theme ‘Big Data’ that helps the user to do better financial management including expense tracking, payment of bills and setting up a budget on a monthly basis. The team ‘3 Musketeers’ finished third for their idea based on big data and productivity that aimed at showcasing the nearby merchants to a MobiKwik user, at the click of a button. The winning teams together won a cash prize of INR 3 lakhs.
MobiKwikathon 2.0 was organised to challenge talented techies to ‘think out of the box’ and raise the bar on innovative ideas and develop newer solutions that add value to business. The idea was also to motivate employees and encourage their participation in such innovative tasks.
Echoing the need for more such activities, Ms. Upasana Taku, Co-Founder and Director, MobiKwik said:
“MobiKwikathon 2.0 was a grand success. It turned out to be a rewarding and challenging forum for some of the best and brightest minds in the organisation to showcase their talent and prove their mettle. We, at MobiKwik constantly strive to engage our employees and motivate them to realize their true potential. Innovation is key to the success of any brand and we will continue to organize such activities so as to breed a culture of innovation within the organization.”
The 24-hour Hackathon was a mix of learning, brainstorming and team bonding. MobiKwikathon 2.0 challenged participants to create solutions and pathway to any live problems that the business could be encountering.
MobiKwik believes in the ‘power of partnerships’ and has forged a string of smart partnerships with leading blue-chip brands such as BSNL, Bajaj Finserv Ltd and IndusInd Bank in the year 2017. In August 2017, BSNL went digital by launching a bespoke mobile wallet developed and issued by MobiKwik. Bajaj Finserv-MobiKwik have partnered to launch India’s first credit wallet, an EMI wallet through which customers can avail credits and loans. MobiKwik has also developed India’s first auto-load wallet for IndusInd Bank’s 10 million plus customers. The company has also signed a pact with IDFC bank for the launch of virtual cards.