CIMB Bank Announces Digital Innovation Challenge

Yet more news of financial institutions embracing FinTech as Malaysia’s CIMB Bank Berhad (CIMB Bank) and Multimedia Development Corporation (MDeC) have announced a collaboration to work with application developers to support the innovation agenda through the launch of InnoChallenge.

InnoChallenge will focus on ideation and conceptualization of new innovative ideas and concepts with developers nationwide. Both CIMB Bank and MDeC will mentor and help developers participating in this challenge build, test and deploy their solutions.

“We're excited with the potential of this partnership. CIMB Bank has always led the way in the digital space and we are keen to be at the forefront where spotting 'the next big thing' is concerned. We look forward to working with MDeC as well as the SME's and small businesses out there to create practical solutions for our customers,” said Renzo Viegas, CEO, Regional Consumer Banking Division, CIMB Group.

“There is a need for banks to continue to innovate to stay ahead and this allows CIMB to embrace a more inclusive model where third parties can use our secure and open interfaces to integrate payments and other financial services into their applications. The InnoChallenge is an early step in our overall innovation roadmap,” concluded Iswaraan Suppiah, Group Chief Information and Operations Officer, CIMB Group.


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