SAN FRANCISCO, June 24, 2016 /PRNewswire/ -- Bank of the West, in partnership with parent company BNP Paribas, announced the winners of its second annual International Hackathon, which was held over the weekend at Galvanize in San Francisco. Winning teams received a cash stipend and are automatically entered into the next phase of the competition, which is a 10- week bootcamp beginning in July and culminating with a 'Demo Day" in Paris on December 2, 2016.
"The hackathon provided a great opportunity for our employees to continue engaging with innovative companies," said Andy Harmening, vice chairman of the Consumer Banking Division at Bank of the West. "We believe that relationships with FinTech companies can be symbiotic; these companies can evolve more quickly with a bank as a partner, and their specific expertise is insightful in our rapidly evolving digital world. The annual hackathon is an opportunity to showcase startups' creative solutions and to collaborate and explore how their applications could bring added value to our customers. We look forward to continuing on this journey of the International Hackathon."
The first phase of the 2016 International Hackathon took place simultaneously in eight cities – San Francisco, Paris, London, Brussels, Berlin, Istanbul, Rome and Warsaw – where designers, developers, and startup teams were invited to work over a 48-hour period on the overarching theme of "making customer journeys more effortless for the client." Bank of the West put forth two local challenges, focused on relevant customer journeys: "I want to buy a home" and "I want to track progress against my goals." Winners of these two challenges, specific to the San Francisco competition, are:
- KaChing, a company that makes it easy for parents to create custodial investment accounts for their kids so that families can start investment portfolios with the touch of a button.
- Spacequant, a company that provides an automated research platform for commercial real estate investors; helping analyze where to invest and how well a property is likely to perform.
"The weekend was a tremendous opportunity to exchange ideas and see the future of banking come to life in very tangible ways. Innovation is a major business driver and a key commitment we have made throughout the business globally," said Pierre Ramadier, senior executive vice president, head of Bank of the West's Wealth Management Group. "The collaboration at the hackathon showcased new ways of thinking about how it is possible to empower our clients and support our teams in the delivery of a world-class client experience. I am excited by the partnerships that are being forged through this and other forums globally."
During the second phase of the competition the two winners will have exclusive access to experts from the Bank. The startups will receive mentorship from Bank of the West and BNP Paribas' professionals to refine their solutions, validate the business opportunity, and perfect their pitch. The 10-week bootcamp concludes with an opportunity to present their solutions at an international Demo Day in Paris on December 2, 2016. During this event, the winning startups from each country pitch to a variety of BNP Paribas' executives, as well as external thought-leaders, technologists, entrepreneurs, and investors.
During the third and final phase, winning teams from the international Demo Day are given the opportunity to participate in a tailored incubation program. This provides the winners with an opportunity to draw on greater BNP Paribas resources, including financial support, cutting-edge workspaces, a customized acceleration program, plus introductions to key suppliers and other potential partners. The teams will retain the intellectual property rights produced from their work during the International Hackathon.
Bank of the West presented BNP Paribas' first-ever International Hackathon in 2015. News and updates regarding the 2016 International Hackathon will be available on Twitter @BankoftheWest (#InternationalHackathon).
About Bank of the West's Wealth Management Group
Bank of the West Wealth Management provides wealth planning, investment management*, personal banking, philanthropy, and trust services. The group is part of BNP Paribas' global wealth management business of more than 6,300 professionals in 30 countries worldwide with more than $10.4 billion** in assets under management in the United States and €325 billion ($370 billion) in assets under management globally as of March 31, 2016.
About Bank of the West
Bank of the West is a regional financial services company chartered in California and headquartered in San Francisco with $77.2 billion in assets as of March 31, 2016. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 75 countries with 189,000 employees. Follow us on Twitter: @BankoftheWest
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 in Europe. The Group has key positions in its main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. Follow us on Twitter: @BNPParibas_pr
*Securities and variable annuities are offered through BancWest Investment Services, a registered broker/dealer, Member FINRA/SIPC, and an SEC Registered Investment Adviser. Financial Advisors are Registered Representatives of BancWest Investment Services. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California, (License #0C52321), through BancWest Insurance Agency in Utah and through BancWest Investment Services, Inc. in AZ, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, WA, WI, WY, HI, GUAM and CNMI. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors. BancWest Investment Services is a wholly owned subsidiary of Bank of the West. Bank of the West is a wholly owned subsidiary of BNP Paribas.
**Assets under management refers to assets under administration, management, advisement, and on deposit, including assets with our affiliate BancWest Investment Services as of March 31, 2016.
Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. In South Dakota, Bank of the West operates under the name Bank of the West California. Bank of the West Wealth Management offers products and services through Bank of the West and its various affiliates and subsidiaries.
Investment and Insurance products:
NOT FDIC INSURED
NOT BANK GUARANTEED
MAY LOSE VALUE
NOT A DEPOSIT
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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SOURCE Bank of the West