24-hour event spotlighted region’s top coders as part of the 2015 MasterCard Latin American and Caribbean (LAC) Forum

MIAMI – December 4, 2015 – Monkey Dots from Brazil was selected as the winning team at the Code4Inclusion Hackathon, which took place at the MasterCard LAC Forum in Miami on Dec. 1 and 2. The 24-hour competition featured top coders and developers from Mexico, Sao Paulo and Miami who were challenged to develop solutions that would help close the financial inclusion gap in the Latin America region.

Their winning solution– The global pharmaceutical market is worth US$300 billion a year and is estimated to grow to US$400 billion in the next three years.[1] The elderly population is a large beneficiary of the industry and one in need of solutions that ease the way they buy and receive their medication. That is why Monkey Dots ideated a solution through which the elderly can buy, replenish, and schedule automated refills for their medications, which are delivered to their doorstep by a drone.

The winning team earned US $10,000. Prizes were also given to the second place winner, Mexico-based team Crowd Chef, and the third place winner and Miami-based team, Cash Out.

The hackathon is part MasterCard’s effort to engage with entrepreneurs, start-ups, developers to develop solutions that promote inclusiveness, build businesses, enhance consumer experiences and drive more participation of the underserved communities in the global economy. “As the world of commerce evolves in today’s dynamic digital marketplace, it’s important that we look beyond our walls in order to leverage the ingenuity and creativity of developers in our region to create solutions relevant for the consumer,” said Daniel Cohen, head of digital payments and financial inclusion, MasterCard Latin America and Caribbean.

The competition was an exciting highlight of the two-day 2015 MasterCard LAC Forum: Connecting Innovative Solutions, which brought together industry leaders and tech innovators to address the forces reshaping commerce in the region. Dozens of speakers and panelists discussed the key themes of digital payments, women in technology, and financial inclusion.

“Integrating this event as part of the forum really allowed us to showcase what innovation means at MasterCard, which is: thinking differently, designing products differently and innovating faster than ever before,” added Cohen. “We were inspired by the work of Monkey Dots and the other brilliant LAC coders who participated in the event.”

During the hackathon, competitors were presented with the challenge of coming up with a solution that would either benefit their community to displace cash, or that would help drive financial inclusion. .

Each participating team showcased their created solution among a panel of judges who then selected the winner. Teams were required to use at least one MasterCard API, but were also able to leverage open-source code.

About MasterCard
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[1] Source: http://www.who.int/trade/glossary/story073/en/