National Bank of Oman’s Hackathon 2019 Looking for Tech’s Next Big Idea

National Bank of Oman (NBO) is gearing up for the third edition of its annual Hackathon competition, which will see the bank completely lockdown for 24 hours as young developers and designers take over the entire building. Those who think they have what it takes to come up with the next big idea in banking are challenged to come up with the most creative digital solutions, and the best concepts or prototypes will be rewarded with cash prizes as well as internships and potential employment opportunities. This year’s specially-developed themes are inspired by Oman Vision 2040’s national priorities and are Industry Collaborations, Digital Transformation and Wellbeing, and Easy Banking. The competition is a once-in-a-lifetime experience, encouraging candidates to flex their brains, think outside the box, and have their part in the digital disruption of Oman’s banking industry.

“Young people have this amazing energy and fearlessness that flames innovation. Very often they are also open to ideas in a way that tends to diminish as we get older and more set in our ways. As a bank that takes pride in our ability to embrace the new, it’s an amazing feeling to be able to engage with young people on their level, help them to unlock their potential and inspire real change,” said Sayyid Wasfi Jamshid Al Said, Acting Chief Executive Officer at National Bank of Oman. “An ever-growing event, the Hackathon has proved to be one of our most ground-breaking initiatives, and we have been impressed with the quality of the prototypes that have come up in the past. Through its incredible success it has sparked similar initiatives across the country from leading organisations. This year’s Hackathon will once again put our young hopefuls to the test as they race against the clock. We look forward to seeing them test the limits of creativity, and see what they come up with. Last year we had some incredible ideas so this year’s participants will have some really big shoes to fill.”

During the Hackathon, candidates will be tasked to create innovative software, apps, or other innovative technology using any platform, framework, language, or hardware device. Competitors must pick from three predetermined themes. The first, Industry Collaborations, requires ideas that collaborate banking with other industries like FinTechs. This is in line with the increasing partnerships between banks and other institutions to maximize their technology arsenal and better meet the growing demands of the customer.

The second theme is Digital Transformation and Wellbeing, focusing on innovations that improve physical and mental health, leisure and recreation, social interaction and the qualities of the surrounding environment. Candidates will be asked to look at how companies from different sectors use new technologies such as connected sensors, smart textiles and intelligent algorithms to help improve our way of living in Oman. Lastly, Easy Banking will focus on ideas that make banking more accessible, inclusive, and easy for everyone to understand.

The NBO Hackathon was launched in 2017 as an innovation platform that offers young Omanis the chance to present a big technological idea that will shape the way we see the world. Participants are given the opportunity to start an idea from scratch or modify an existing technology in order to change or improve its functionality or purpose.

Last year’s competition saw over 500 school and university students, computer programmers, developers, designers, interface specialists and subject matter experts work to find forward-thinking solutions to solve some of the most pressing problems faced in banking, customer service and the challenges involved in creating Smart Cities. This year is anticipated to be even bigger and better, bringing even more young minds together.