RHB Bank (Cambodia) Plc and Amazon Web Services (AWS) are jointly hosting a competitive “hackathon” in the Kingdom, one that will challenge the community to create technological initiatives and solutions for the banking industry.
“The competition is open to university students, developers and cloud enthusiasts to participate in the first ‘Build On, Cambodia 2021 Hackathon’ for those with coding skills eager to create a positive impact in the business community with the power of technology.
“This is an event where participants will have the opportunity to learn more about the fundamentals of cloud computing,” said RHB Bank Cambodia CEO Wong Kee Poh.
A hackathon – a portmanteau of “hacking marathon” – is a design event in which teams collaborate intensively on software projects, and the Build On, Cambodia 2021,the four-hour grand finale is set for May 28.
The shortlisted teams are currently building their prototypes, with mentoring from RHB Bank and AWS solution architects, having met the participants on May 10-11 to better understand the challenge statements.
“RHB Bank is excited to be partnering with AWS on this project, one that has vast potential to improve financial inclusion and financial literacy for young people in Cambodia.
“With this event, RHB Bank hopes to inspire a new generation of financial innovators to come up with ideas that can help propel Cambodia into a financial ecosystem where every person can enjoy banking facilities wherever they are, whenever they want,” Wong said.
From 9 to 30 April, more than 50 participants started sending information about themselves, and their ideas, along with their proposals for shortlisting to the next stage. The selection of finalist by RHB Bank and AWS was carried out between April 30 and May 7.
Having provided three challenge statements for the hackathon, RHB Cambodia is judging the hackathon and sponsoring the two winning prizes.
“From the ideation and proposal evaluation, it can be seen that the young talents in Cambodia are very excited about developing proposals for digital ideas for RHB Bank Cambodia. Their drive to present innovative ideas to the organisers was shown just during the short discussion between the RHB Bank panel and AWS.
“The participants have been coached and guided by the RHB Bank Cambodia panel and AWS experts during the competition. They have had the chance to learn more about the fundamentals of banking and cloud computing.
“The teams behind the shortlisted winning ideas will be invited to present their respective proposals and prototypes to a panel of judges and stand a chance to win some exciting prizes.
“A team of mentors have guided them from the beginning to the presentation stage, making sure they are well prepared for the final competition,” Wong said.
‘Engaging with customers’
The winning team for each challenge statement will receive prizes up to $1,500 and have lunch at Phnom Penh’s 5-star Rosewood Hotel with the RHB Cambodia’s CEO and management team.
RHB Bank (Cambodia) Plc was established in July 2008 and currently has 12 branches operating in Phnom Penh and provinces. To complement the services of its commercial banking activities, the RHB banking group in Cambodia also offers investment banking services that cover capital market and brokerage.
The RHB Banking Group is the fourth largest fully integrated financial services institution in Malaysia, with more than 100 years of service excellence and a regional presence across Asean.
The Build On, Cambodia event – which the bank hopes to be able to host annually, with 2022 being the first “on-site” hackathon in Phnom Penh once the Covid pandemic is over – reflects RHB’s commitment to using innovation to best provide for its customers.
“Banks have been making customers aware of relevant products as a path to growth. In the past, that approach was about introducing other banking products. A narrow focus on core adjacencies ignores the broader role a bank can play on behalf of its customers.
“By moving into ecosystems beyond the normal tradition, RHB Bank is able to tap into our existing client base and operational capabilities, strengthen engagement and capture data that will provide a complete view of customers’ needs.
“For most consumers, a bank is just a means to perform their banking services: ensuring a secure retirement, growing a business or buying a home. But RHB Bank intends to engage with the customers at all stages of their life journey,” Wong said.
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