Hong Leong Bank launches virtual hackathon Asean edition focused on ESG

HLBank HackIT Aug21

KUALA LUMPUR: Hong Leong Bank has launched its virtual hackathon “Can You Hack It” Asean Edition 2021 with its focus on environmental, social and governance (ESG) aspects.

In a statement on Wednesday, the bank said it is calling all budding disruptors to join its to find and co-create innovative solutions focused on ESG.

This virtual hackathon aims to get creative ideas and unique solutions on how people in the region interpret ESG and how technology can be leveraged to improve digital banking products, services and experiences.

It said the hackathon is open to all to form up to a three-member team from all Asean countries.

“Can You Hack It” is designed to allow participants to propose their ideas by solving problem statements provided by the bank, coding and validating them.

The teams have to demonstrate a working prototype to a panel of Hong Leong Bank executives as well as digital and FinTech players.

With the focus on ESG, this year’s problem statement categories include community banking, community investment, climate-positive financing, socially responsible business and financial literacy.

Teams are expected to use the likes of big data, artificial intelligence (AI), blockchain, machine learning and machine vision to tackle the problem statements.

Teams will also get a chance to work with and be mentored by top executives from Hong Leong Bank’s regional counterparts in Vietnam, Cambodia and Singapore, Google Cloud, Malaysia Digital Economy Corporation (MDEC), MaGIC, JomHack Malaysia and Hong Leong Bank Launchpad 2021 winner, ERTH, a startup that offers e-waste recycling services.

Hong Leong Bank’s chief digital innovation officer Shailesh Grover said, “Our digital at the core strategy over the past few years has successfully enabled us to continuously simplify how customers interact with us across channels of their choice and get a delightful experience.

“As a proud community bank with sustainability as a core value, we now want to take it a step further to create effective banking and financial products and services that create long term sustainable value for our customers, community and the planet.”

“Moving forward, we want to take full advantage of technologies like AI, machine learning and big data analytics to better generate and analyse ESG data.

“This will allow us to gain deeper insights to measure, track and continuously improve our ‘green quotient’ when it comes to all things finance. Hence, we invite anyone across the region who want to identify solutions, new business models and opportunities relating to ESG in co-creating sustainable digital banking and finance.”.

From a total of 10 teams, the winner will get a US$5,000 cash prize, followed by US$2,500 and US$1,000 for the first and second runners-up respectively. There will also be a US$350 consolation prize given to the remaining seven teams.

Applications are open until Aug 31. For details, go to https://www.hlb.com.my/hlbcanyouhackit/.

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