Innovation Challenge Set To Change The World Of Retail Banking


From now until June 2019, HSBC Bank Malaysia Berhad is hosting the first ever HSBC Openlab Innovation Challenge to attract new talents, startups, designers, digital innovators and developers from all industries with innovative digital ideas to solve real-life retail banking challenges.

Be it re-thinking existing banking propositions by building a disruptive digital banking alternative, or re-designing banking processes by leveraging rich data, better UI/UX, and real time risk assessment, or even re-inventing customer engagement through the digitisation of customer service – participants of the HSBC Openlab Innovation Challenge 2019 are given the opportunity to work on their ideas using an openlab sandbox to create a working prototype of their solution.

Different from a traditional Hackathon model, the HSBC Openlab Innovation Challenge 2019 allows participants to work on their solutions from the comfort of their own home/ office and provides them with access to a live sandbox openlab that has 200 Application Programming Interfaces (APIs), software development kit, as well as synthetic data to help them build their prototype.

Commenting on this, Tara Latini, Country Head, Retail Banking and Wealth Management, HSBC Malaysia said, “Malaysia is the first market where HSBC launches such a challenge and this clearly demonstrates the Bank’s commitment to the nation and its talented community of digital innovators. As a global organisation which operates in 66 countries and territories, we at HSBC understand that digitisation is changing financial services at a rapid pace. We see that many of the current banking products, services and processes can be made better and faster via digitisation, better UI/UX and creative use of data. Therefore, through the HSBC Openlab Innovation Challenge, we aim to revolutionise the way financial products and services are designed and delivered to our valued customers.”

Teams stand to win attractive cash prizes for the best digital innovations: the first prize is RM8000, the second prize is RM6000 and the third is RM4000. For registration and more details, visit The team registration closes on 5 May 2019. Shortlisted teams will be notified accordingly.

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