2019 CD80 Financial Product Design&Development Intramural Competition

2020-09-23

Introduction to the Competition

“Chengdu 80” is a global high-level fintech competition jointly organized by Southwestern University of Finance and Economics and Chengdu Jiaotzu Financial Holding Group Co. Participants design their own entry within 80 hours based on the application scenarios of fintech given by the organizer and using open source technology. The organizer will take into account the comprehensive performance of the teams in the internal competition and select one team to represent our university to participate in the final of the “Chengdu 80” Financial Product Design and R&D Competition for Colleges and Universities. In today's era, new thinking, new ideas and new technologies are emerging everywhere, and finance and technology are colliding, with breadth and depth co-existing. The teams in the “Chengdu 80” Financial Product Design and R&D Competition will use machine learning, blockchain, UI design, financial engineering and full-stack software development technologies to create product prototypes. A panel of judges will select the winning team based on the effectiveness, complexity and user experience of the prototype. The final round of the “Chengdu 80” Financial Product Design and R&D Competition will provide a platform for participants to interact with academic leaders from the finance and technology fields, executives from international financial institutions, and leaders from government and regulatory agencies. Teams that stand out in the on-campus competition are expected to have in-depth discussions and compete with top financial talents from home and abroad.

Official Recap of the Inaugural 2018 CHENGDU 80

The scene of the competition

The inaugural "Chengdu 80" Global Financial Product Design and Development Competition successfully concluded in 2018, featuring teams from Peking University, University of California, Berkeley, Southern University of Science and Technology, Georgia Institute of Technology, Tsinghua University, Southwestern University of Finance and Economics, University of Hong Kong, and National University of Singapore. Competing against each other within an 80-hour time frame around a given theme, these teams joinly compete for the fintech product design and development award.

Upon the competition's commencement, the participants engaged in intense and vibrant discussions, collaborating seamlessly and contributing their unique perspectives. Each team was filled with passion, fully immersed in the task at hand. Divergent viewpoints converged, and ideas clashed, fostering an environment of intellectual stimulation. These 80 hours served not only as a competition among teams but also a rigorous test of their collaboration, coordination, and mutual trust.

The scene of the final

After 80 consecutive hours of relentless brainstorming, the eight teams took turns presenting their solutions to the challenge of "Individual IPO Pricing and Issuance" within 15 minutes, followed by a 5-minute Q&A session with the judges. During their presentations, contestants not only elaborated on their products' design concepts and advantages from a professional and rigorous standpoint but also shared amusing anecdotes from their 80-hour journey. The competition arena resonated with a blend of tension and levity as contestants showcased their talents. In the Q&A segment, they responded confidently, demonstrating exceptional adaptability and teamwork even in the face of challenging questions.

After fierce competition, National University of Singapore was awarded the Pioneer award, while the University of Hong Kong and the University of California, Berkeley, were awarded the Leader award, georgia Institute of Technology, Peking University, Southwestern University of Finance and Economics, South University of Science and Technology of China, Tsinghua University won the Innovator award.

The second “Chengdu 80” in 2019 held as scheduled.

The grand finale ceremony of the competition was held at SWUFE on November 3rd, capping off an intense 80-hour preparation and impressive roadshows. Yin Sheng, Deputy General Manager of Chengdu Jiaozi Financial Holding Group and Chengdu Financial DreamWorks Investment Management Co., Ltd., Professor Chen Yuanzhu from Memorial University of Newfoundland, and Executive Dean Zhao Jingmei of the School of Finance, SWUFE, graced the opening ceremony. The competition theme, "Developing a visual research and discovery platform for financial scholars," was drawn live on the spot. Eight teams from top universities worldwide showcased their products and presented their defenses at the Hongyuan Building of SWUFE.

The final round was adjudicated by nine experts from esteemed institutions including Daguan Data, Memorial University of Newfoundland, China Construction Bank, State Street Bank, Kuangbang Technology, Ping An Pioneer Fund, Ping An Pension Insurance, Ping An Technology, and Chengdu Jiaozi Financial Holding Group.

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As the presentation segment commenced, each of the eight teams, in the order of their draw, had 15 minutes to analyze and showcase their solutions to the challenge of creating an "Academic Explorer" platform for financial scholars, followed by 10 minutes of Q&A from the judges.

In the presence of eight teams, the contestants carefully analyze the title of the competition, systematically display the hatching results, humorous yet serious to the judges and the guest team's design concept and product, their brilliant presentation won applause from the audience.

After intense competition, the University of Hong Kong was awarded the Trailblazer Award, while the University of California, Berkeley, and the National University of Singapore received the Pioneer Award. Peking University, SWUFE, Tsinghua University, the University of Toronto, and Shanghai Jiao Tong University were recognized with the Innovator Award.

In the afternoon, at the invitation of Chengdu Jiaozi Financial Holding Group, the contestants visited the Jiaozi Park in Chengdu Financial City, where they witnessed the achievements of Chengdu's journey towards becoming a national western financial center. They savored the leisurely pace of Chengdu life, enjoyed performances of Sichuan Opera, including the art of face-changing and fire-spitting, tasted local delicacies, experienced Eastern tea ceremonies, and immersed themselves in Chengdu's intangible cultural heritage. The interactions between the team members and Jiaozi Financial Holding Group's staff were fruitful for both sides, with the contestants expressing their profound gratitude for the organizers' thoughtful arrangements.