Mastercard, in collaboration with ABB, successfully concluded the Sandbox as a Service platform Hackathon, a virtual event aimed at discovering innovative fintech solutions to combat climate change. The Hackathon featured 8 leading fintech startups from the region, showcasing live products designed to support sustainable development and reduce carbon emissions.

Over 50 regional and local fintech solutions were evaluated, with finalists meeting criteria such as the ability to operate in Azerbaijan, presenting live products ready for integration with banks, and aligning with the sustainability theme.

The final day included presentations from participants to a panel of six experts representing the Innovation & Digital Development Agency, ABB Bank, Kapital Bank, Pasha Bank, Mastercard and Sabah Hub. The panel assessed the solutions on the Sandbox as a Service platform, focusing on their relevance for banks, innovation, and user experience.

The winners of the Sustainability Sandbox Hackathon are:

• Winner 1 – CARBONEMIT
• Winner 2 – BESO
• Winner 3 – FARADAI

CarbonEmit, as the first-place winner, will receive $10,000 from ABB to further develop their startup and full access to the Mastercard Sandbox as a Service platform. The second and third-place winners will gain personal access to the Sandbox platform and additional Mastercard benefits.

These teams impressed the jury with forward-thinking solutions that address climate challenges and offer practical applications for banks and financial institutions in Azerbaijan and beyond.

Mastercard remains dedicated to fostering sustainable innovation, promoting environmental responsibility, and supporting fintech solutions that contribute to a greener future.