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2015-05-20

The mCommerce wave: Axis Bank, Nasscom to hold virtual hackathon challenge

The bank is looking to engage with innovative companies to build customer focussed solutions, which will reinvent consumers’ interaction with the bank’s mobile app.

Rapidly changing digital space and improved technology penetration across various customer segments have transformed the digital banking landscape globally. In order to build a strong digital banking capability, Axis Bank, in partnership with Nasscom, has announced a virtual hackathon challenge on 30th and 31st May, 2015.

Amit Sethi, CIO, Axis Bank, said, “Mobile technology has transformed not only customers’ daily behaviour, but their expectations of us as their financial partner. We are inviting creative minds to collaborate with us in this journey of building next generation customer centric mobile solutions. We want to be a part of customers every day digital lives.”

The bank is looking to engage with innovative companies to build customer focussed solutions, which will reinvent consumers’ interaction with the bank’s mobile app. The bank is in search of developers and designers who can gamify the financial technology solutions, using the power of Axis Bank's digital platforms/APIs on the mobile channel. Anyone who has a great idea - whether working alone or in a small/large leading tech company can participate. The bank would allow individuals as well as teams to participate.

Gamification can be meaningfully used to motivate customers and nudge their personal financial behaviour such as goal-based savings and debt reduction on the bank’s mobile app. The Bank will take forward the winning ideas to design an engaging product/service mix and make financial transactions enjoyable for customers.

Rajesh Rao, Chair, Nasscom Gaming Forum, said, “The hackathon in collaboration with Axis Bank is a progressive step towards leveraging technology to revolutionise the digital banking landscape. Nasscom is pleased to be a part of this initiative and are optimistic that this will be helpful in enhancing and creating a robust digital banking ecosystem in India.”

Furthermore, Axis Bank will reward the top three winners with an overall prize money of Rs 15 lakhs. Axis Bank may also get into service contracts with one or more of them. Intellectual Property would be retained by the Bank.

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