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Hong Kong’s student AI solution grab top prize at the Innovator Tribank Fintech Challenge 2019

Nine teams of FinTech innovators from the Mainland, Hong Kong, and Taiwan universities assembled at Cyberport last month  to duke it out over their FinTech proposals during the Grand Final of The Innovator Tribank Fintech Challenge 2019, an Haccelerator event organised by Shanghai Commercial Bank (SCB), the Shanghai Commercial & Savings Bank and Bank of Shanghai and supported by Cyberport, Hong Kong Monetary Authority and IBM.  

 

In the initial round of competition, contestants had to develop innovative solution in different theme according to respective competition region in which Fintech was the theme for Hong Kong. Contestants were challenged to  develop solutions for one out of the following four challenges : (i) to facilitate customer on-boarding at the SCB; (ii) to improve transaction convenience of SCB’s online payment; (iii) to enhance customer experience for SCB wealth management; or (iv) to apply AI in SCB operations.

 

 “We_Love_FinTech”, a team formed by the students from the Chinese University of Hong Kong (CUHK) and the Hong Kong University of Science and Technology (HKUST), earned the top award and won a cash prize of HK$200,000 at the final competition.

 

Their solution, called BankMiner, applies frontier AI technology to the relationship management of retail banking customers. From facilitating customer on-boarding, enabling data-driven marketing and data-mining, to minimising customer churn and managing customer retention, the solution enables banks to leverage the powers of AI to meet the needs of their customers throughout their life cycles and to boost competitiveness.

 

In addition to winning cash prizes, the champion and first runner-up received a Fast Pass to final round interview of the Cyberport’s entrepreneurship programmes. All teams participating in the Grand Final were also given free access to the IBM Cloud platform for up to six months.

 

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