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Innovation Labs 2019: A New Era for FinTech Solutions
Launch of the 7th Edition
The seventh edition of the Innovation Labs program kicked off in early March with a dynamic hackathon held in Bucharest. This year marks the second inclusion of the FinTech category, which saw last year’s finalists, CredXp and Tag4IT, make significant strides in the pre-acceleration phase. This time around, two teams from the FinTech category that emerged victorious from the Bucharest hackathon are Sales Lead Generator and FinBot.
Mentorship and Guidance
Horia Velicu, a mentor for the FinTech teams, represents a banking partner of the competition. He plays a crucial role in curating the list of ideas from which participants can select their future products or solutions. Horia notes that the teams CredXp and Tag4IT, who participated in the previous edition, are currently preparing to officially launch their solutions, with BRD being their first client.
Innovative Solutions from FinBot
FinBot, one of the FinTech teams, is currently developing its solution based on a specific challenge faced by BRD. Horia emphasizes that the team will have the flexibility to expand their offering to other sectors in the future.
„Our solution aims to minimize the time employees spend searching for information within the company. Our chatbot will provide users with 3-5 relevant options and allow them to give feedback on the quality of the responses, enabling the chatbot to refine its suggestions if the initial answers do not meet their needs,” explains Alexandru Maxim, a member of the FinBot team.
When an employee seeks information about a product, service, or procedure, the chatbot will analyze text blocks to extract the most pertinent answers. Alexandru mentions that they will utilize Python and machine learning for their development.
Enhancing User Interaction
„We’re initially focusing on a collection of keywords and their meanings rather than the exact phrasing of questions. We want to encourage employees to use as many words as possible, as this increases our chances of finding the information they need,” Horia Velicu adds.
Sales Lead Generator: Targeting Potential Clients
Cornelia Ene, a member of the Sales Lead Generator team, highlights that their solution is designed to assist sales teams across various companies by identifying the best potential clients for their products.
„I find this application incredibly useful because I have experience working in a call center. I understand the frustration of calling 50 people only to find that many are uninterested and wish to be removed from contact lists. I know how much time was wasted and how difficult it was to meet targets due to ineffective database selections,” shares Robert Apetrei, the newest member of the Sales Lead Generator team, who joined after the Bucharest hackathon and will contribute to their marketing efforts.
Conclusion
The Innovation Labs program continues to foster innovation in the FinTech sector, providing a platform for emerging teams to develop solutions that address real-world challenges. With the support of mentors and a focus on user-centric design, these teams are poised to make a significant impact in the industry.
