DBS wraps up its first global hackathon with 12 international teams in the finals
Singapore.30 Sep 2019
Teams from Russia, Indonesia, Malaysia and Singapore made final cut
Singapore, 30 Sep 2019 - Twelve international teams beat over 2,500 participants from 67 countries to hack their way to the finals of the DBS Paradigm Shift global hackathon. Over the last four months, more than 300 teams from around the world worked with 74 mentors from DBS and its partners[1] to create solutions that focused on leveraging artificial intelligence in retail banking, improving insurance products, creating hyper-personalisation services for customers and improving sustainability.
At the end of the final 48-hour sprint held on 28 and 29 September, “We Shift Paradigm”, a team of three from Malaysia edged out 11 other teams to come up tops with their idea of building a more inclusive banking system.
“We Shift Paradigm” impressed a panel of 11 judges from DBS and its partners with their spirit of entrepreneurship, passion and commitment. Said Leong Yok Tien, captain of the team, “It has been a very challenging and thrilling experience for us, and we couldn’t have done it without the guidance and mentorship of DBS. We’re excited to work with the Best Bank in the World to bring our idea to life.”
Soh Siew Choo, Managing Director and Head of Consumer Banking Technology and Big Data Analytics Technology, DBS Bank, said she was very impressed with the original thinking, diversity and potential exponential customer benefits of the ideas presented. “Watching these teams conceptualise, develop and deliver these solutions over the past five months has been very rewarding. I’m looking forward to working with the winning teams to bring their ideas to life so we can further transform what we bring to our customers.”
The final 12 teams and their solutions were selected based on their concept, ease of implementation, use of technology, solution performance and overall user experience.
The winners of the DBS Paradigm Shift global hackathon are as follows:
In recent years, DBS has made significant strides in its digital innovation agenda to seamlessly weave banking into the everyday lives of customers. Some initiatives include DBS digiPortfolio, a hybrid human-robo investment solution; POSB Smart Buddy, the world’s first in-school wearable tech savings and payments programme; and digibank, a mobile-only bank available in India and Indonesia. Earlier this year, DBS was recognised as the World’s Best Bank by Euromoney.
[1] DBS Paradigm Shift partners include Amazon Web Services (AWS), Capgemini, Cloudera, Microsoft, Pivotal, QuantumBlack, Stack Overflow and Telstra.
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
At the end of the final 48-hour sprint held on 28 and 29 September, “We Shift Paradigm”, a team of three from Malaysia edged out 11 other teams to come up tops with their idea of building a more inclusive banking system.
“We Shift Paradigm” impressed a panel of 11 judges from DBS and its partners with their spirit of entrepreneurship, passion and commitment. Said Leong Yok Tien, captain of the team, “It has been a very challenging and thrilling experience for us, and we couldn’t have done it without the guidance and mentorship of DBS. We’re excited to work with the Best Bank in the World to bring our idea to life.”
Soh Siew Choo, Managing Director and Head of Consumer Banking Technology and Big Data Analytics Technology, DBS Bank, said she was very impressed with the original thinking, diversity and potential exponential customer benefits of the ideas presented. “Watching these teams conceptualise, develop and deliver these solutions over the past five months has been very rewarding. I’m looking forward to working with the winning teams to bring their ideas to life so we can further transform what we bring to our customers.”
The final 12 teams and their solutions were selected based on their concept, ease of implementation, use of technology, solution performance and overall user experience.
The winners of the DBS Paradigm Shift global hackathon are as follows:
Prize | Team | Country |
1st Prize USD 35,000 | We Shift Paradigm | Malaysia |
2nd Prize USD 25,000 | Wildcard | China/Singapore |
3rd Prize USD 20,000 | Ready | Singapore |
Runner-up USD 10,000 | Fimatic | Singapore |
Runner-up USD 10,000 | Team 1206 | Singapore |
In recent years, DBS has made significant strides in its digital innovation agenda to seamlessly weave banking into the everyday lives of customers. Some initiatives include DBS digiPortfolio, a hybrid human-robo investment solution; POSB Smart Buddy, the world’s first in-school wearable tech savings and payments programme; and digibank, a mobile-only bank available in India and Indonesia. Earlier this year, DBS was recognised as the World’s Best Bank by Euromoney.
[1] DBS Paradigm Shift partners include Amazon Web Services (AWS), Capgemini, Cloudera, Microsoft, Pivotal, QuantumBlack, Stack Overflow and Telstra.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
