Win your share of R50 000

We’re looking for teams of innovators, thinkers and designers in the fintech space and we’re giving away R50 000.

How does it work?

Fintech and banking innovation is the future, and we’ve got 4 challenges for you to think about. Choose one, solve it, present it to us, and you could walk away with your share of R50 000 in your pocket.

Start by downloading the competition pack, assemble a team of 3 to 5 people and submit your idea to designadmin@absa.africa

Download the competition pack

Documents
Prizes

Winning team: R50 000
Runner up team: R15 000
Prize money will be shared equally between all team members

Documents
Important dates

Entries submitted by: 15 October 2021
Top 5 selection: 3 November 2021
Final presentation and winners announced at a virtual event: 19 November 2021

Innovation is the future

The best and most innovative products – in any digital industry – are designed around users. At Absa, we are focussed on creating products and services that will solve problems for our customers.

And great design requires great minds – nothing else! So, if you have the kind of brain that can solve problems, understand needs and identify opportunities, you owe it to yourself to enter our hackathon. It could be the start of a new phase in your career or just a chance to make your mark in the fintech space!

How to enter

Download the competition pack and submit your idea to designadmin@absa.africa

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Step 1

Download the competition pack

apply
Step 2

Enter a team of 3 to 5 people

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Step 3

Choose one challenge to solve

apply
Step 4

Submit your entry, supporting documents and presentation via email

The challenges

Here are the four challenges ... or opportunities.

 

  • Challenge 1 : Adapt or die – Innovation

    COVID-19 and the resultant lockdowns have changed the world - but customers’ needs have stayed the same. So how can customers fulfil their banking requirements without having to go into a branch? More importantly, customers have varying degrees of digital skills/knowledge

    Challenge: Develop an idea whereby customers can self-serve – help customers with varying degrees of digital skills/knowledge

    I CAN make banking digitally an easy and intuitive experience.

  • Challenge 2 : Understanding your customer – Data and analytics

    Customers’ needs are not static; they change as customers move through life. A successful bank will offer relevant products at relevant times to ensure that the customer relationship lasts a lifetime – which means that we need to understand our customers.

    Challenge: How can we use our customers’ data to continually make their banking relevant, exciting and valuable and extend their relationship with us?

    I CAN make banking an evolving partner in customers’ lives.

  • Challenge 3 : Opening the doors – Driving growth

    The bank is always looking for more customers, but are more customers looking for our bank? Customers come from all walks of life and it is their situations that determine just how easy or hard it is for them to become part of the banking ecosystem.

    Challenge: Develop an idea that makes banking accessible for potential customers from all walks of life and ultimately will grow our customer base.

    I CAN make banking accessible to all.

  • Challenge 4 : Back to the future – Relevance and value

    Digitalisation has changed almost every aspect of our lives. And probably even more aspects of business. Digitalisation is a fundamental game-changer. But with the advent of digitalisation, many processes and products have fallen by the wayside.

    Challenge: Identify a product or service that once offered value and re-imagine it for the modern digital world and customer.

    I CAN use digital to create and enhance the value of the past.

The path to success

Success is based on hard work and thinking. So, before you submit your idea, answer these questions:

  • Have you solved the problem in your chosen challenge?
  • Is your idea unique?
  • Is your idea a game-changer?
  • Are customers at the centre of your idea?
  • Ensure that your video is no longer than five minutes

If you would like to participate and do not have a team, please contact us at designadmin@absa.co.za 

Download the competition pack