Sushanth S ---- (PGP/23/424)

Evaluate the impact of hackathon in DBS bank. Mention the

criteria for your evaluation.
Impact of Hackathons:
The hackathons were an effective way for the DBS bank to identify talented
individuals and come up with new ideas to provide banking solutions. It was an
effective process because the participants got to interact with the senior management
of the bank like the presidents and the vice presidents of the bank. This provided
them the opportunity to understand the bank better and some clarity as to what the
bank was looking for amongst the individuals. The hackathon also provided a
common platform for the participants where the selection process was not biased
and very transparent for them to see. If we look at the hackathons from the bank
perspective it is an easy scalable method for them to recruit technical staff. It
attracted submissions from the world’s best and brightest technology talents,
including developers, data scientists, behavioral scientists, UX/UI designers, fresh
grads to PhD students, and entrepreneurs. Through the hackathon, DBS could find
teams with creative concepts that would make banking effortless, so customers could
focus more on the things that matter to them. More over at the end of the hackathon
the bank had a working prototype that they could test with live data of people who
could be potential customers to the bank in the future hence they can check the
viability of any banking solution provided by the customers.

Criteria for evaluation of hackathon:

1) Viability of Hackathon solutions
2) Scalability of hackathon competitions
3) Cost of conducting a hackathon
4) Types of participants in the hackathon
5) Transparency and selection process of hackathons
6) Talent being acquired through hackathons