{"id":14507,"date":"2019-09-28T12:56:31","date_gmt":"2019-09-28T07:26:31","guid":{"rendered":"https:\/\/www.technologyforyou.org\/?p=14507"},"modified":"2019-09-28T12:56:31","modified_gmt":"2019-09-28T07:26:31","slug":"syndicate-bank-bets-big-on-technology-innovation-organizes-synd-innovate-hackathon","status":"publish","type":"post","link":"https:\/\/www.technologyforyou.org\/syndicate-bank-bets-big-on-technology-innovation-organizes-synd-innovate-hackathon\/","title":{"rendered":"Syndicate Bank bets big on technology innovation, organizes Synd Innovate Hackathon"},"content":{"rendered":"

\u2022 Partners with HackerEarth to crowdsource ideas to improve customer experience
\n<\/strong><\/span><\/p>\n

\u2022 Receives overwhelming response with more than 3500 developers participation<\/p>\n

\u2022 Final phase scheduled on 28-29 September<\/strong><\/span><\/p><\/blockquote>\n

Bangalore, India, September 28, 2019 :<\/strong>\u00a0Syndicate Bank, one of the most trusted and technology savvy public sector banks, partnered with\u00a0HackerEarth<\/strong>, a leader in developer assessment software, to conduct a large-scale hackathon,\u00a0Synd Innovate<\/strong>.\u00a0 The two-month long hackathon received overwhelming response with more than 3500 developers crowdsourcing ideas for digital banking solutions.\u00a0<\/span><\/p>\n

Synd Innovate was aimed at helping the bank identify innovative ways to improve\u00a0customer experience<\/u>\u00a0and digitize day-to-day banking functions. The HackerEarth has earlier conducted several BFSI hackathons with renowned banks, state governments and other institutions.\u00a0<\/span><\/p>\n

The Synd Innovate hackathon was organized in three phases to give participants enough time to work on their solutions. The first online phase which ran from\u00a0July 16th, 2019 till Sept 03 2019<\/strong>\u00a0received participation from\u00a03558\u00a0<\/strong>participants submitting more than\u00a0564\u00a0<\/strong>ideas. For second phase,\u00a0396 participants<\/strong>\u00a0were selected to present prototype of their ideas. Out of over 200 prototypes presented in second phase,\u00a0only 40 teams<\/strong>\u00a0are selected for the final phase,\u00a0onsite hackathon<\/strong>, which is scheduled for\u00a028-29 September<\/strong>\u00a0at 91 Springboard, Bangalore.\u00a0<\/span><\/p>\n

A healthy mix of participation was witnessed from both students from prestigious institutes of India as well as working professionals from some of the industry leading firms. Students from IIT, IIM, IIIT, BITS, NIT, SRM University, Army Institute of Technology (Pune), RV College, etc. and working professionals from OLA, DBS Bank, VMware, TCS, Astra Robotics, etc. are a few to name.\u00a0\u00a0<\/span><\/p>\n

The Syndicate Bank team will mentor the finalists and help chisel their solution during the course of the onsite hackathon. The finalists will get the opportunity to showcase and discuss their solution before the esteemed judges and stand a chance to win amazing prizes. A total of INR 7 Lakhs will be given away in prizes with the winning team standing a chance to win INR 3 Lakhs.\u00a0<\/span><\/p>\n

Mrutyunjay Mahapatra, MD & CEO, Syndicate Bank said<\/strong>\u00a0\u201cTechnology has always been integral part at Syndicate Bank. We understand Fintech collaboration and open co-creation is the basic of new age digital banking and events like Synd Innovate Hackathon are just the right platforms to discover better and efficient ways of improving digital banking and thereby customer experience. We are delighted to partner with HackerEarth which comes with a proven track record of successfully organizing hackathons at premier organizations in the past. We look forward to making the most out of technology and hackathon events in the future too.\u201d\u00a0<\/span><\/p>\n

Atul Kumar, CIO, Syndicate Bank added<\/strong>\u00a0\u00a0\u201cWith hackathon, our focus is on building a user-friendly platform for our customers to enhance their experience whether, it is at a local bank branch or online. There are unlimited possibilities for us to give them a hassle-free banking service. India has the second-largest online population\u00a0in the world, with more than 462 million users and which such potential we are aiming at making India world\u2019s fastest growing innovation and digital hub. We hope to implement some of the ideas that will be presented at the hackathon.\u201d \u00a0\u00a0<\/span><\/p>\n

Sachin Gupta, CEO and Co-Founder, HackerEarth said<\/strong> \u201cWe are honored to partner with Syndicate Bank for the hackathon. It is great to see that the organization is taking digitization seriously and want to crowd source ideas from Indian developers. Every bank is trying to retain their customer base and acquire new customers, but Syndicate Bank has taken a huge leap forward by creating a hackathon to channel good ideas and tech-forward solutions. We hope to see great results in the coming days.\u201d\u00a0<\/span><\/p>\n

The developers worked on below themes for the Synd Innovate hackathon :<\/span><\/strong><\/p>\n

\u25cf\u00a0Customer Social Profiling<\/strong>– Build solutions to check & verify customer\u2019s social life, connections, transactions, purchase patterns, travels, place of work, company where he is employed, current address and other details through social media\/other platforms (LinkedIn, etc) through facial recognition and other information.<\/span><\/p>\n

\u25cf\u00a0Voice-Based Customer Grievance Redressal System<\/strong>– A voice-based Customer Grievance Redressal where customer should be able to register & track grievance through voice message which gets directed to respective departments with proper back-end system for redressing for management having centralized monitoring.<\/span><\/p>\n

\u25cf\u00a0An App for Agents<\/strong>– Create an easy referral system for anyone to register freely and refer new customers, to receive rewards points.<\/span><\/p>\n

\u25cf\u00a0Branch wise customer ranking<\/strong>– Develop a system to analyze branch\u2019s customer data as per their digital channel usage, display the same in their digital signage system and suggest them to improve their digital user base by migrating the customers to digital channels instead of conventional brick and mortar banking.<\/span><\/p>\n

\u25cf\u00a0Branch Ambience & Cleanliness<\/strong>– A centralized system to detect a bank branch\u2019s cleanliness & ambience effectively, for better customer experience.<\/span><\/p>\n

\u25cf\u00a0Whatsapp Business integration<\/strong>– Develop a system to integrate Whatsapp business for amazing experience to customers like immediate receipts of transactions, smart notifications, online transaction details, chatbots, live-chat etc.<\/span><\/p>\n

\u25cf\u00a0Automated Queue Management System<\/strong>– Create an automated queue management system for walk-in-customer in the branch with the help of latest technology like QR Codes, IoT etc.<\/span><\/p>\n

\u25cf\u00a0Identification & Triggering alert when a High Net Worth customer<\/strong>– Develop a system which can identify HNI & Top 100 customers and send an alert to branch head to avail priority banking services.<\/span><\/p>\n

\u25cf\u00a0Mobile number verification of customers<\/strong>– Create an easier method for customer to verify their registered mobile by scanning QR code at the branch, sending missed call or any other easy procedure to provide him hassle-free verification process.<\/span><\/p>\n

\u25cf\u00a0Early Fraud Detection Mechanism<\/strong>– Solutions sought for early fraud detection system by using AI, ML, NLP, BI or any other technology.<\/span><\/p>\n

\u25cf\u00a0Customer Acquisition<\/strong>– Analysis for faster customer Acquisition for Banking Products such as Credit Cards, Loans, Current Accounts, Fixed Deposits etc.<\/span><\/p>\n

\u25cf\u00a0Open Innovation<\/strong>– For any ideas that do not come under any other category, participants are encouraged to submit their ideas under open innovation.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u2022 Partners with HackerEarth to crowdsource ideas to improve customer experience \u2022 Receives overwhelming response with more than 3500 developers participation \u2022 Final phase scheduled on 28-29 September Bangalore, India, September 28, 2019 :\u00a0Syndicate Bank, one of the most trusted and technology savvy public sector banks, partnered with\u00a0HackerEarth, a leader in developer assessment software, to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,7,4],"tags":[8104,8105,8103,8106],"class_list":{"0":"post-14507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-careers","7":"category-events","8":"category-technology","9":"tag-hackerearth","10":"tag-synd-innovate","11":"tag-synd-innovate-hackathon","12":"tag-syndicate-bank-synd-innovate-hackathon"},"_links":{"self":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/14507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/comments?post=14507"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/14507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media?parent=14507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/categories?post=14507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/tags?post=14507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}