PETALING JAYA: RHB Bank Bhd recently hosted the first Financial Technology Hackthon (FinTechathon) in Malaysia with Startupbootcamp (SBC) FinTech, a leading fintech accelerator.
The event “FinTechathon – Hacking the Wealth Management Industry” brought together digital and technology-savvy individuals from the financial services sector and non-financial backgrounds to synergise on new ideas and solutions for the wealth-management industry.
Through FinTechathon, RHB as a partner of SBC in Malaysia, is able to support and mentor fintech start-ups locally and within the region.
RHB Banking Group’s chief operations officer, Rohan Krishnalingam, said in a statement: “The FinTechathon is aimed at identifying innovative digital solutions to serve the changing wealth-management needs of our different segments of customers.
“The FinTechathon is part of our Digital Strategy, as we seek to tap into the Fintech ecosystem to find solutions that deliver superior customer experience for our clients.”
For this challenge, participants were given 48 hours to generate ideas on how to use technology to innovatively attract millennials to invest in wealth-related products; how to leverage big data and analytics to strengthen the advisor-client relationship and improve customer experience; and finally how to creatively use technology to encourage customers to save and grow their wealth.
Startupbootcamp FinTech Singapore managing director Steven Tong said, “We are very happy with the solutions we saw. There were ideas that could potentially be a good viable business in innovating areas of wealth management in the future.
“We will definitely watch out and monitor these talents and hopefully see their applications in our 2017 programme.”