Stanbic Bank Ghana, in its quest to make employees future fit, creative, and innovative thinkers, has organised a 2-day Staff Hackathon themed ‘Creating a competitive advantage by adopting a digital mindset’.
The idea-generation hackathon took place from Thursday, Sept. 19 to Friday Sept. 20, 2019 at the SBIncubator, Silver Star Towers in Accra.
In his opening address, Head of PBB, Nana Dwemoh Benneh commended the Digital Transformation Team for such a laudable initiative to build the needed capacity that will set the bank apart.
“The future generation is not interested in the traditional construct in which we operate. In order to stay relevant and manage them, we need to combine emotional intelligence, cognitive abilities and the language of coding to be on top of our game”, he said.
Digital Transformation and Agile Experts within and outside the bank such as Jalilu Issahaku, Albert Yirenchi Danquah, Futurist Kwame Opoku and Dr. Gordon Adomdza gave keynotes and had panel discussions to set the tone for the hack.
The “hackathonians” participated in a Design Thinking workshop facilitated by Design Thinking Ghana. The workshop equipped them with problem solving skills to enable them empathize, research and ideate to solve complex value and failure demands for clients. Three key customer journeys were the focus of the hackathon. The participants were tasked to complete user research and build prototypes of solutions that address the issues or opportunities along the key customer journeys of the bank – Onboarding, Lending and Cash Management.
After 48 hours of brain racking and nerve teases, the eight (8) competing teams; the Revolutionaries, Team Agile, The Spartans, Team PALCR, The Innovators, Early Birds, Futurists, and D-Byte, took turns to present their high-value actionable business ideas and product concepts to a panel of judges.
Team Early-Bird made up of Pierre Barrad Amoyaw, Wumpini Abdul-Basit Fuseini, Kanor Carboo, Emmanuel Sarpong and Prince Anderson awed the panel with their innovative submission on how Stanbic can go cashlite with deposit mobilisations and were eventually pronounced winners. The team created a user-friendly payment platform which enables corporates to digitally present invoices to their customers. The invoices enable their clients to complete payments via any electronic mode of payment and provides real-time and automated reconciliation.
According to the judges, Benjamin Mensah (Head, Wealth, West Africa), Pearl Nkrumah (Head, Enterprise Banking), Telly Morris (Head, Business Process Improvement), Kakra Gyeke-Lartey (Head, Operational Risk) and Dr. Ernest Asimenu (Head, Private Banking), the teams were assessed on feasibility, level of innovation, expected business impact, opportunity for intellectual property and the potential for differentiation.
The winning teams were awarded with Cash prizes totalling GHS 10,000.
The Head of Digital Transformation at Stanbic, Mr Patrick Quantson, congratulated all the participating teams for bringing such real and actionable customer insights to the table.
“The future is happening around us and we must rise to the challenge to meet it and thrive in the 4th Industrial Revolution. The time to begin questioning everything, from rethinking our strategies and business models, to discovering the right investments in training and potentially disruptive R&D investments is now”, he intimated.
The 2-Day sprint saw about 50 Stanbic Hackathonians showcasing their client-centric driven, out-of-the-box ideas in the creative space of the SBIncubator with cheers and jeers from colleagues.