On July 23, 2021, the fourth edition of the "Fintech Hackathon" - the final round of the 4th FINTECH 80 CHENGDU HACKTHON(CHENGDU 80 for short), as part of the 4th International Fintech Forum SWUFE & CDAR 2021 series of events, successfully concluded at Southwestern University of Finance and Economics (SWUFE). Eight top-tier university teams from around the world converged on SWUFE, where after an intense 80-hour competition, the team from Tsinghua University emerged victorious, claiming the Trailblazer Award. It is worth noting that the FINTECH 80x program was also released for the first time in this competition.
Co-organized by SWUFE, the University of California, Berkeley's International Consortium of Data Analytics and Risks (CDAR), and Chengdu Jiaozi Financial Holding Group, with support from SWUFE's International Joint Laboratory of Fintech, Chengdu Fintech Association, and Jiaozi Financial DreamWorks, this global competition kicked off on July 17 and officially began on July 18 at SWUFE's Liulin Campus, culminating in the finals and closing ceremony on July 23, where awards were presented to the winning teams.
80-HOUR CHALLENGE GATHERS EIGHT TOP GLOBAL UNIVERSITY TEAMS
Now in its fourth consecutive year, CHENGDU 80 is a design and R&D competition aimed at students from top universities worldwide in the field of fintech. The competition, colloquially known as the "Fintech Hackathon" among academia and industry, requires participating teams to design and create their projects within an intense 80-hour period. This year, the competition's theme, "Enterprise Risk Assessment," was closely aligned with the cutting edge of finance and technology, requiring teams to design products tailored for banks, regulatory agencies, and investment institutions based on the given theme and application scenarios.
西南财经大学党委常委、副校长尹庆双 在启动仪式上致辞 At the opening ceremony, Yin Qingshuang, member of the Standing Committee of the CPC SWUFE Committee and Vice President of SWUFE, delivered a speech. He noted that SWUFE is the only finance and economics university in western China to be included in the first batch of "Double First-Class" universities, earning it the reputation of being "China's Financial Talent Pool." As fintech's impact on the financial industry becomes more profound and long-lasting, nurturing top-tier fintech talent is crucial for the prosperity of the financial sector. Accelerating the development of high-quality fintech products represents a hotly contested area in financial competition, giving rise to the CHENGDU 80 Fintech Product Design and R&D Competition.
The competition comprised two main stages. During the development phase, teams leveraged machine learning, blockchain, UX design, financial engineering, and full-stack software development technologies to complete their tasks independently, with evaluations conducted through public voting and jury assessments. The second stage involved presenting project outcomes on July 23, with the jury team assessing and scoring each project. After 80 hours of intense competition, Tsinghua University's product, "Panda," emerged as the winner of the Innovator Award for its clear logic, strong practicality, innovation, and ease of operation. Additionally, the teams SWUFE and the University of Zurich secured the Leader Award, while the National University of Singapore, the University of Hong Kong, the University of Electronic Science and Technology of China, Chongqing University, and Tel Aviv University were awarded the Innovator Award.
At the award ceremony, Ou Bing, member of the Standing Committee of the CPC SWUFE Committee and Vice President of SWUFE, and Ma Honglin, member of the CPC Chengdu Jiaozi Financial Holding Group Co., Ltd.'s Committee and Deputy General Manager, presented the trophies to the winning teams. Ou Bing offered words of encouragement, stating, "CHENGDU 80 has gathered financial elites from around the world, showcasing the indomitable spirit of challenge among our students. Congratulations to the winning teams, and I hope you will continue to deepen your product research and application, contributing even more to the fintech industry and socio-economic development."
It is understood that there are eight teams participating in this competition. Due to the global pandemic, this year's finals adopted a hybrid "online + offline" format. Teams from Tsinghua University, Chongqing University, the University of Electronic Science and Technology of China, and SWUFE participated in the offline presentations, while the University of Zurich, the University of Hong Kong, the National University of Singapore, and Tel Aviv University presented their projects online.
The products developed by the competing teams garnered widespread attention at the finals, with Chengdu Jiaozi Financial Holding Group expressing keen interest in exploring the potential for product commercialization with the teams. And the possibility of landing and incubation of relevant products is being discussed with various participating teams and the group.
As one of the sponsors, Chengdu Jiaozi Financial Holding Group has supported CHENGDU 80 for four consecutive years. Ma Honglin, member of the CPC Chengdu Jiaozi Financial Holding Group Co., Ltd.'s Committee and Deputy General Manager, noted that Chengdu's fintech ecosystem has grown increasingly sophisticated over the past four years, fostering the integrated development of "government-industry-academia-research-application." This platform has provided real-world experience and training for a new generation of fintech talents. He encouraged young scholars to use fintech as a "golden key" to unlock a better future for society.
OFFERING DIVERSE VALUE: THE DEBUT OF THE "FINTECH 80 x" PROGRAM
Focusing on the integration of "industry-academia-research" to empower the financial sector, the "FINTECH 80 x" program was launched at this year's competition opening ceremony, along with the announcement of application and hosting standards.
Huang Wen, Deputy Secretary of the CPC SWUFE School of Finance Committee and Director of the Entrepreneurial Finance Center, explained that after three years of development, the "FINTECH 80 CHENGDU" brand has gained significant influence in the fintech field. The "FINTECH 80 x" program aims to further enhance the competition's and organizers' influence within the industry, contributing more diverse value to China's financial sector and driving the development of Chengdu's financial industry.
The "FINTECH 80 x" program, initiated by the CHENGDU 80 organizing committee, is a series of exchange activities focused on the fintech industry. Authorized by the organizing committee, it can be hosted by financial or fintech enterprises or other organizations. It provides opportunities for professionals in the fintech field to connect, fostering closer ties between academia and industry, promoting the healthy integration of "industry-academia-research," and narrowing the information and regional gaps in fintech development, thereby driving the overall growth of the sector.
Centered on exploring industry frontiers and addressing issues faced by fintech enterprises, the "FINTECH 80 x" program encompasses diverse formats, including but not limited to roundtable, salons, lectures, and other events. It serves as a platform for connecting resources, disseminating industry information, enhancing resource utilization, and fostering the healthy development of the industry.