MoraBanc Hosts Andorra's First AI Finance Hackathon with €7,000 Prizes
Andorra's inaugural AI and Finance Hackathon offers €7,000 in prizes for innovative prototypes tackling client challenges. Partners AWS and Hive Five provide tech support and venue.
Key Points
- Hackathon on Nov 7-8 at Hive Five TechLab in Andorra la Vella targets AI for finance like savings, fraud detection.
- Open to multidisciplinary teams; AWS provides cloud resources and workshops; no coding skills required.
- Prizes: €4,000 first, €2,000 second, €1,000 third for viable prototypes.
- Focus on financial sustainability and data security with isolated cloud accounts.
MoraBanc and AWS are organising Andorra's first AI and Finance Hackathon on 7 and 8 November at Hive Five Coworking's TechLab in Andorra la Vella, with €7,000 in total prizes for minimum viable prototypes that improve financial management through artificial intelligence.
The event welcomes multidisciplinary teams, including non-technical participants and anyone with ideas to enhance savings management, expense planning, confident financial decisions, fraud prevention or detection, or support for businesses and freelancers. Organisers stress that proposals must be financially sustainable, with AI aiding the shift from concept to prototype even for those without programming skills. A jury will assess entries for viability and other criteria, distributing €4,000 to first place, €2,000 to second and €1,000 to third.
Hive Five will handle logistics and provide full infrastructure at its venue. AWS offers each team secure, isolated cloud accounts with computing, storage and networking resources, plus generative AI tools for natural-language prototyping. Participants can attend four pre-event workshops—three on generative AI and one on the AWS platform—with on-site engineers available for guidance.
MoraBanc AI head Eric Garcia, speaking at a 23 September presentation covered in reports the following day, predicted around 10 projects would emerge. He stressed the hackathon's goal of turning ideas into prototypes without requiring pre-built apps or advanced coding, through teamwork over two days.
Hive Five director general Marc Talò noted the TechLab's focus on advancing AI, gaming and crypto within Andorra's tech scene. AWS executive sales lead Raimon Pou highlighted technical support to address development barriers.
Presenters addressed data security concerns with non-sovereign clouds. Pou explained teams' control over data locations, with full isolation preventing external access. Garcia personally argued against pursuing a sovereign Andorra data centre, pointing to challenges in hardware, chips and connectivity.
The initiative seeks to embed AI in financial services and bolster the local tech ecosystem. Registration details are not yet available.
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