“Buyer-centric” is a phrase you’d usually see related to banks, because it’s true that their enterprise depends closely on coping with prospects, be they people or different companies.
That’s why banks are consistently striving to give you modern options, doing buyer satisfaction surveys, and so forth., and RHB Banking Group (RHB) has launched an inaugural hackathon to take it one step additional.
Known as Get Your Hack On (GYHO), the digital hackathon is slated to occur this June 11-13, 2021, with the Grand Closing taking place and winners being introduced on June 19. It’s an occasion that RHB is organising with the assistance of JomHack Malaysia.
The pandemic has made it clear that buyer behaviours and desires have modified, and RHB is hoping to seek out new options that may cater to them.
Ganesh Mahendranathan, Head of Innovation at RHB mentioned, “The accelerated digital consumption has resulted within the inflow of latest digital shoppers.”
“To journey on this digital tsunami, we’re reinventing our buyer acquisition and engagement fashions via the digitisation of buyer journeys in addition to driving a mess of initiatives throughout the innovation worth chain.”
Having a say in altering banking
According to that, there are 5 challenges that RHB desires contributors to unravel. Amongst them are:
- Methods to allow a totally digital buyer journey that additionally lets RHB securely migrate its prospects to cell and web banking channels and effectively serve them remotely;
- How the bank-biz proprietor relationship could be maintained and improved;
- Enabling the creation and validation of economic info, strong future money circulate predictions, and sustainable enterprise mannequin methods for fast-growing startups or corporations in order that RHB can construct trusted and clear credit score profiles;
- How modern applied sciences can be utilized to evaluate functions for financing from SMEs to enhance RHB’s credit score selections and scale back circumstances of default;
- Revolutionary options that may make RHB the employer of alternative for digital skills in order that the financial institution can scale back exterior reliance on distributors to scale its digital initiatives.
Throughout the hackathon, groups of three or much less should construct and submit a working prototype. The groups will personal the IP to their initiatives, and relying on how they carry out, RHB could provide follow-up alternatives within the type of pilot initiatives, a job provide, or a partnership, and so forth., to develop the thought additional.
One of many objectives of holding this hackathon is in order that RHB may also supply skills from the hackathon with a view to construct stronger in-house digital and technological capabilities, thus creating profession alternatives in tech, design, or enterprise.
Altogether, RHB is focusing on to work with as much as 300 techies via GYHO whereas subsequently fostering stronger ties with the Malaysian startup and enterprise ecosystem.
Rewarding and inspiring innovation
Winners of GYHO will win prizes from a money pool of RM26,000 and Amazon Internet Providers (AWS) cloud credit, with the champion profitable a money prize of RM10,000, AWS credit price US$800, trophies, and certificates.
Money and comfort prizes will probably be given to the 4th to tenth runners-up, and groups who carried out the perfect in every of the 5 challenges will get particular awards and money too.
The banking business is actually an thrilling place to maintain one’s eyes peeled for, notably with its fast digitalisation and the daybreak of digital banks in Malaysia.
Due to this fact, GYHO is a welcome initiative to push for artistic and modern options that may profit banks and prospects alike, and the profession alternatives it’ll present to skills are appreciated in a time the place the unemployment charge remains to be excessive. From it, we could nicely see new fintech startups emerge too.
- You possibly can be taught extra about GYHO right here.
- You possibly can learn extra about hackathons we’ve coated right here.
Featured Picture Credit score: RHB Banking Group / IFM