BOCHK Challenge 2021-22 - Main

BOCHK Challenge
2021-22
Successfully Completed

BOCHK Challenge 2021-22 has come to its successful conclusion and the response was overwhelming.

12 groups of finalists competed for 7 awards and the winning teams were awarded HK$ 590,000 prizes in total.

The judge panel provides valuable advice and assistance to BOCHK Challenge 2021-22. A group photo of the judges, guests and teams at the closing ceremony.

Sweet Smile
BOCHK Challenge 2021-22
Outstanding Achievement Award

Maldin Consulting
BOCHK Challenge 2021-22
Gold Award for Innovative Design

Clairvoyance
BOCHK Challenge 2021-22
Silver Award for Innovative Design

DreamMeta
BOCHK Challenge 2021-22
Bronze Award for Innovative Design

TradeMe
BOCHK Challenge 2021-22
Greatest Prospect

DreamMeta
BOCHK Challenge 2021-22
Greatest Teamwork

Sweet Smile
BOCHK Challenge 2021-22
Greatest Tech Team

Themes

<u>Case study: AR/ VR</u><br>
AR/VR enabled companies to execute better marketing strategies through strengthening their interactions with customers. The bank can utilize VR and AR-enabled apps to virtualize scenes of their branch, so that customers can feel the cordial service of the bank even at home. In addition, gamification of banking products can also be included, transforming conventional print marketing materials such as leaflets and posters into interactive materials such as AR/VR games. With the aid of VR/AR , experiential marketing has become the norm for driving a successful campaign as content & experience are enriched and efficiency in advertisement& promotion has improved.

Martech

<u>Case study: Blockchain</u><br>
In the health insurance sector, blockchain technology enables the encryption of patient information, smoothens the sharing of information while still protecting patient’s privacy. Instead of requiring insurers and providers to consolidate patient data across individual databases, a blockchain system for medical records could store a cryptographic signature for each medical record on a distributed ledger. The signature catalogs the content of each document cryptographically and timestamps it, without actually storing any sensitive information on the blockchain. Whenever modifications are made to the documents, it’s recorded on the shared ledger, allowing insurers and providers to audit medical information easily across organizations.

Insurtech

<u>Case Study: E-KYC</u><br>
KYC (Know Your Customer) is today a significant element in the regulatory processes, fighting against financial crime and money laundering. The KYC processes has been digitalizing in recent years, forming a new concept called E-KYC. Customer's identity is verified electronically through biometrics authentications such as facial recognition. In addition, information from IDs and other supporting documents are captured using OCR technology. E-KYC makes customer onboarding seamless and is considered more and more feasible as its accuracy is improving by the advancement of artificial intelligence.

Regtech

<u>Case study: Robo-Advisor</u><br>
With tremendous data being involved in an investment process, artificial intelligence (AI) has taken up a significant role in facilitating investment decisions. Robo-Advisor, an AI-driven algorithm financial advisor, offers robust goal planning services based on investors’ preference and provides continuous monitoring towards investment portfolios. Consequently, Robo-Advisor introduces beneficial influence upon drastic minimization of human decision-making error and promotes accurate investment enhancement.

Investech

<u>Case study: ESG Management Platform</u><br>
Sustainable ESG platform allows financial institutes or corporate clients to manage and report their ESG (environmental, social and governance) data across subsidiaries and investment, whilst enabling companies to coordinate carbon footprint and manage corresponding carbon emission concurrently. In addition, integrated data will be scrutinized to set a benchmark in determining sustainability loan rates based on their performance. All in all, ESG platform serves as a catalyst for financial institutes to make a concerted effort in mobilizing green finance, thus maintaining a high level of corporate social responsibility to deliver a credible brand reputation.

Greentech

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