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INNOVBANK extends its deadline due to Overwhelming demand

Business News Update: Revolutionizing the Sri Lankan Banking and Financing industry for over eight decades, Bank of Ceylon, initiated paradigm shift through Fintech innovation to reach new heights of banking through digital technology.

Understanding the significant importance of digital disruption that is taking place, it was proposed to introduce “INNOVBANK International Symposium for Banking and Financial solutions in the digital era” as a platform to present ideas and proposals that could assist banking and financial services to be more responsive and agile towards customer needs. This task was therefore emerged with profound insight and strategy to meet its objective.

Organizers stated that they have so far received an overwhelming number of proposals related to digital breakthroughs related to the field of Banking and Finance and many claims to extend the stipulated time given for proposal submission. Therefore the new date of online submission has been extended to 4th February 2020. All such proposal can be submitted through www.innovbank.lk. It is requested to all interested parties including University Academics, Undergraduates, Fin-Tech Enthusiasts, Other institutions and School Students can present their applied research papers, concept papers, and proposals on disciplines of future banking outlined herein.

‘InnovBank International Symposium’ underlying the theme of “Innovative Banking in a smart world” is first of-its-kind in the industry, where the Bank of Ceylon sponsors to boost Industry growth by energizing digital innovations. The final outcome is aimed to provide smarter banking experience for the customers with the collaboration of ideas gathered from professionals and academics interested in Fin-Tech innovations. This can also be considered as a Corporate Social Responsibility initiative towards the betterment of the industry.

The Symposium tracks under six main categories namely; Fin-tech Solutions for Banking, Business Process Re-Engineering in banking, Artificial intelligence in financial industry, Innovative bankingproducts and services, MIS and Big data analytics for decision making and My Dream Bank category exclusive for students.

In order to ensure transparency and clear assessment thoughout the evaluation process, organizers have invited independent external evaluators representing academic and professionals in the field of IT and finance. The Evaluation process comprises three main phases in order to recognize the best proposal under each category. Evaluation of proposals submitted under school category will be evaluated under special criteria.

On receipt of proposals, efficacy and the expediency of the concept will be ascertained by the evaluation panel at the initial screening stage and the filtered papers/proposals will be scheduled for presentations. Proposals screened through the 1st stage will be called in for an presentation before an expert reviewing panel to ascertain the relevance and contribution of the concept towards the industry development. At the third and the final stage, all shortlisted proposals will be given the opportunity to present their proposed ideas at the “INNOVBANK International Symposium” scheduled to be held in May 2020. Additionally best three projects from each category will be recognized and rewarded accordingly. For more information please log on to www.innovbank.com.