Team Harit Journey to Victory: Green Fintech Hackathon 2024

As the world tackles the ongoing climate crisis, sustainability has become a priority across industries. Financial institutions are at the forefront of this movement, and through green finance, they play a crucial role in fostering environmentally conscious decisions.

At HARITX, we are proud to be part of this shift, contributing our innovative solutions to incentivize sustainability through the Green Fintech Hackathon 2024.

Our Achievement: 1st Place Winners

We are happy to be recognized as top performers in the Green Fintech Hackathon, organized by IIT Jodhpur and the Reserve Bank Innovation Hub (RBIH). Competing against top-tier talent from across the country & industry, we emerged victorious, showcasing our groundbreaking platform, HARITX – Simplifying ESG Compliance.

The Problem We Solved: Incentivizing Green Choices

The core theme of the Hackathon was Incentivizing Climate-Conscious Consumers. Our mission was to develop a solution that encourages consumers and businesses to make eco-friendly financial choices. HARITX addresses this by offering a Green Score system, which rewards consumers and businesses based on their environmental impact.

Our innovative platform is powered by the SAYA Platform and leverages AI and Large Language Models to generate real-time sustainability ratings for both individuals (B2C) and businesses (B2B). This allows banks to offer rewards such as lower interest rates, green loans, or grants based on eco-friendly behavior.

HARITX: Simplifying ESG Compliance

At the core of our success lies HARITX, a cutting-edge platform designed to simplify ESG compliance for businesses. Powered by AI, Machine Learning, and the SAYA Platform, HARITX automates the traditionally complex process of sustainability rating assessments.

HARITX offers a Green Score system, rewarding both consumers and businesses based on their sustainability reports. By leveraging real-time data, HARITX allows companies to upload their sustainability reports and receive accurate, reliable ratings based on the TCFD framework.

Looking Ahead: A Bright Future for HARITX

This victory at the Green Fintech Hackathon is just the beginning for HARITX. We are excited to continue driving innovation in sustainability, empowering financial institutions, businesses, and consumers to make greener choices through our cutting-edge platform.

What Makes HARITX Stand Out

Banks and Financial Institutions – HARITX helps them evaluate a business’s sustainability through accurate HARIT scores.
Business Entities – HARITX enables self-evaluation of ESG compliance, providing valuable insights to help businesses make informed decisions.

See How Simple HARITX is:

Onboarding: Entities can submit their sustainability reports online for evaluation.
Real-Time Rating: HARITX generates instant sustainability ratings based on the TCFD framework.
Cloud Admin Support: The HARITX Cloud team validates submissions and ensures the accuracy of the ratings by training the model consistently.

A Step Toward a Greener Future

HARITX represents the future of ESG compliance. By simplifying the process and offering real-time insights, we’re making it easier for businesses and financial institutions to promote sustainability and adopt green practices. Winning the Green Fintech Hackathon is just the beginning – we’re excited to continue driving innovation for a more sustainable world.

A Week-by-Week of Our Journey

Week 1: Problem Identification

In the first week, we focused on identifying the key challenges facing financial institutions in incentivizing climate-conscious consumers. Through workshops and design thinking sessions, our team analyzed the gaps in the current system and submitted a GAP analysis to highlight the need for better incentives.

At the end of Week 1, Team Harit ranked 7th.

Week 2: Development & Mentorship

Guided by expert mentors, we began developing the concept of HARITX. This phase involved exploring cutting-edge technologies like AI, Machine Learning, and automating ESG compliance processes. We proposed the idea of automating sustainability ratings, moving away from traditional manual methods.

By the end of Week 2, our team secured 9th place.

Week 3: Testing & Iteration

With a working prototype in hand, we underwent rigorous user testing. This week was all about refining our solution based on feedback from potential customers and industry experts. We prepared a compelling pitch and showcased the core features of HARITX.

At the end of Week 3, we climbed to 6th place.

Week 4: Finalizing and Winning

In the final week, we polished our pitch and solution, presenting a fully functional prototype of HARITX to the judges. Our solution stood out for its ability to simplify ESG compliance using AI and Machine Learning, delivering real-time sustainability ratings based on company data.

On the final day, Team Harit emerged as the 1st place winner!

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