DBS has just launched a global hackathon called Paradigm Shift, which aims to find new solutions that “make banking effortless”.
It focuses on the use of technologies such as machine learning, IoT (Internet-of-Things), AR/VR (augmented reality/virtual reality), to build a better experiences for digitally-savvy customers.
DBS says it looks to attract submissions from “the world’s best and brightest technology talents” including developers, data scientists, behavioural scientists, UX/UI designers, and entrepreneurs.
“Banks continue to face stiff competition from non-financial companies and must reinvent and disrupt themselves in order to stay relevant,” says DBS Managing Director and Head of Consumer Banking and Big Data Analytics Technology, Soh Siew Choo.
“This requires us to have a fundamental shift in the way we think and operate, so as to build a superior user experience for our customers.”
Taking place from 28 May to 22 September 2019, the Paradigm Shift hackathon will be stretched across three phases:
- Ideation (28 May-5 July): Interested participants can register and form teams of up to four to begin ideation based on consumer trend themes provided.
- Prototyping (13 July-6 September): Shortlisted teams from the ideation phase will be given eight weeks to develop their concepts into prototypes.
- Finals (21-22 September): Teams whose prototypes are selected will compete in the finals through a virtual pitch session.
At the end of the hackathon, best performing teams could land a job at DBS, and stand a chance to win cash and prizes from a total prize pool of US$100,000.
Teams will be judged based on “the novelty of their concepts, relevance and impact”.
Interested participants can learn more about Paradigm Shift and register themselves here.
So far, it has already drawn over 1,000 participants from 25 markets including Brazil, Germany and the US.
Participants will be given access to technology platforms, as well as a panel of over 50 experts from DBS and its partners, across areas of specialisation like big data, artificial intelligence, mixed reality, consumer trends, banking and sustainability.
The global hackathon will be supported by DBS’ partners which include Amazon Web Services, Capgemini, Microsoft, QuantumBlack and Telstra.
This isn’t the first time that DBS has organised hackathons as their method of seeking out new talent.
Previously, the Singapore bank has run two editions of their Hack2Hire programme.
The initiative has helped them assess the problem solving and technical capabilities of potential hires, and even reach out to expand on gender diversity with their focus on female developers this year.
Featured Image Credit: DBS