DBS Bank has launched a global hackathon for building a customer-centric approach to developing new services for digitally-savvy customers. The hackathon, called Paradigm Shift, has attracted over 1000 participants across 25 markets. The bank is looking for participation from top technology talents globally, including developers, data scientists, behavioral scientists, UX/UI designers, fresh grads to PhD students, and entrepreneurs. Separated into three phases, teams of up to 4 can create concepts that will make banking effortless for customers. Soh Siew Choo, managing director and head, consumer banking at the bank, said banks continue to face stiff competition from non-financial companies and must reinvent and disrupt themselves in order to stay relevant. This requires banks to have a fundamental shift in the way they think and operate, so as to build a superior user experience for their customers, he added. The DBS Paradigm Shift global hackathon started on 28 May and will continue till 22 September and is supported by partners such as Amazon Web Services (AWS), Capgemini, Microsoft, QuantumBlack and Telstra.
