Calling all startups, scaleups, and small business owners! Wetspac has launched its sixth annual Innovation Challenge. The challenge for entrepreneurs and innovative thinkers in 2019 is to come up with the next big idea that will shape the future of how we use data to drive new and improved customer experiences.
The banking giant is on the hunt for ideas in particular that provide solutions across the micro business, energy, aged care, insurance and government sector.
This year’s challenge is in response to the rollout of Open Banking in 2020. The bank is looking for startups and small businesses that are ready to assist businesses and consumers to ride the wave of opportunity that greater access to data from Open Banking will bring.
Westpac’s Head of Innovation Kate Cooper, said data is expected to enable a new wave of product innovation.
“We’re looking for innovative ideas that help businesses which operate in highly regulated or scrutinised sectors overcome unique challenges and deliver value for customers,” she said.
“A key part of the Challenge this year will be involving Westpac’s commercial and institutional customers, and enabling a platform for innovative start-ups to meet potential customers and collaborators.”
Last year’s Challenge winner, artificial intelligence software scale-up Daisee, has developed an AI product which analyses 100 per cent of customer conversations in contact centres and monitors and evaluates them for compliance and quality.
Entries to the Westpac Innovation Challenge are now open. Five finalists will be selected to pitch their ideas on December 4 to a judging panel that includes Westpac’s CTO, David Walker; Dr Catriona Wallace, founder & CEO of Flamingo AI, Tank Stream Labs CEO Brad Delamare and Digivizer CEO Emma Lo Russo.
Applications close at midnight on Sunday, October 20. Enter here.