Page 25 - Banking Finance November 2017

PRESS RELEASE

Bank of Baroda launches “Baroda Finathon Challenge”- a nationwide

Hackathon

Bank of Baroda, India’s International Bank, launches a bright minded tech enthusiasts and to co-create innovative
nationwide hackathon “Baroda Finathon Challenge”. The technology solutions which can bring value to the Bank
contest is an attempt to crowd source ideas and to bring customers. Bank has released diverse set of APIs for the
technology innovations happening outside into Indian purpose of hackathon which provides tech community a
banking industry. It invites techies, developers, students and unique opportunity to explore use of technologies like
start-ups to come up with exciting, innovative, novel and Blockchain, Machine Learning, Artificial Intelligence,
viable solutions under the listed themes. Robotics Process Automation and Augmented Reality along
with the given APIs towards making the banking services
The “Baroda Finathon Challenge” is a two-month long more efficient and convenient and aligned to the latest
online hackathon divided into two phases. In phase 1, customer expectations.’
participants can register their ideas during September 2,
2017 to October 8, 2017. The participants can form a team Speaking at the launch, Mrs. Papia Sengupta, Executive
Director said “Baroda Finathon Challenge” is Bank of
of maximum three people to develop applications or
Baroda’s first such initiative to promote innovations in the
solution on various themes given by the Bank. Phase 2 is a Indian banking industry. The “Innovation” theme of the
solution development stage where shortlisted participants
hackathon provides a unique opportunity to apply out of box
will submit the working solutions online from October 15,
thinking to create new age banking solutions using emerging
2017 to November 05, 2017. Solutions will be evaluated by
technologies. Participants can also use this platform to
an eminent jury and top three solutions will be awarded
create business value driven outcomes in the focused areas
prizes in the Grand Finale. like enhancing customer experience, improving operational
Speaking at the launch, Mr. P. S. Jayakumar, MD & CEO said efficiency, discovering new ways for conversational banking
‘Bank has launched this initiative with an objective to invite and creating smarter ways for customer acquisition.

HDFC Bank’s CODE launches “Industry Academia” for start-ups

HDFC Bank’s Centre of Digital Excellence (CODE) today launched “Industry Academia”. The initiative, first-of-its-kind in
the country, aims at mentoring and hand-
holding fintechs and start-ups incubated at
country’s top technical and B-schools. In all,
over 50 such partnerships with institutes are
envisaged in phase one of the initiative
beginning with IIT-Bombay, IIT-Roorkee and
CIIE at IIM-Ahmedabad. The objective is to
identify potential fintech ideas at Incubation
and Entrepreneurship cells in these
institutes at a nascent stage, and help them
evolve into a consumer-ready product. The
Bank will use its domain expertise to mentor
start-ups on customer experience, reduce
time to market and costs, among other
things. In turn, the start-ups will get the
Bank’s platform to test their ideas in the
real world, in addition to expert insights,
and knowledge.

BANKING FINANCE | NOVEMBER | 2017 | 25

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010