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RBL Bank Launches RBL ilabs, And Its First-Ever Hackathon

RBL Bank on Tuesday announced the launch of RBL iLabs, an initiative to promote innovation in banking and financial services


RBL Bank on Monday (17 April) announced the launch of RBL iLabs, an initiative to promote innovation in banking and financial services. They also launched the RBL Hackathon, a solution development programme aimed at fostering the creation of new solutions in the banking sector. The contest is a shout out to engineering students, IT professionals, tech enthusiastic, start-ups, and app developers.

The RBL Hackathon is supported by IBM, StartupBootcamp, PricewaterhouseCoopers Pvt Ltd, The Hive, 91 Springboard, Amazon Activate and NetMagic.

Speaking at the launch, Sanjay Sharma, head - technology, innovation and customer fulfillment at RBL, said, “The financial services industry in India is undergoing a digital transformation with innovation at its core. RBL is launching this hackathon to create innovative and viable solutions that surpass the currently available solutions in the market, thereby aiming to provide a superior and intuitive experience to the end user. The whole idea is to secure and raise customer experience to an all new level.”

“The open innovation theme of RBL Hackathon will provide fintech, start-ups, IT professionals, and others with a unique opportunity to explore technologies like artificial intelligence, machine learning, block chain, digital currency, etc., to improvise and transform the banking industry. This platform is created to recognise and reward the best of them and give them an opportunity to change the fintech industry,” Sharma added.

The top three winners will get a chance to win exciting cash prizes worth Rs.1 million, along with a potential engagement opportunity with RBL Bank for productising their ideas.

Participants can register here.

RBL is one of India’s fastest-growing private sector banks with an expanding presence across the country. It currently services over two million customers through a network of 237 branches and 375 ATMs spread across 16 Indian states and Union Territories.

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