HDFC Bank has launched the 2nd edition of its Digital Innovation Summit, which is expected to be a platform for start-ups to showcase their innovations aimed at powering the bank’s next phase of growth.
Launching the program, Nitin Chugh, country head, digital banking, HDFC Bank, said innovation is a part of the bank’s DNA and through the Digital Innovation Summit, the bank is fostering a culture of innovation. Interested startups can submit their entries before 22 January and the top 25-30 entries will get an opportunity to present their ideas to a jury comprising senior management of the bank on 9 and 10 February in Mumbai. The top 5 ideas selected by the jury will be further evaluated and they will get an opportunity to partner with the bank.
The bank said evaluation will be done on parameters like uniqueness, business potential, usability and scalability and compatibility with the bank’s business and technology platforms. The broad categories under which entries are sought are: internet of things (IOT), virtual reality, artificial intelligence, blockchain and rural fintech. Innovations are to be introduced in areas such as mobile banking, customer experience, cyber security, social banking, payments, branch automation and operational efficiency. The bank has partnered with Let’s Talk Payment as the Summit partner.
The Summit is part of the bank’s strategic focus on customer convenience, access and delight, using technology as an enabler. The project began in 2014 in Varanasi with the launch of the #GoDigital ‘Bank aapki mutthi mein’ campaign.
