Question: Evaluate the impact of hackathon in DBS bank.

Mention the criteria for

your evaluation

The three-day Hackathon provided the bank with multiple prototypes for the problems faced by
them or for the decisions to be taken. The idea of Hackathon resulted in getting more than 50
prototypes which was used to get solutions and ideas for various plans for digibank. This activity
helped in brainstorming of ideas in a new manner giving different insights and thus help the
bank to achieve its goal of becoming ‘Asian bank of choice for the New Asia’.
The hackathon activity also had an impact on employee engagement. The executives and
directors involved in the hackathon got the opportunity to step out of from their daily schedule of
corporate world and work like a start-up. This allowed the participants to learn, do and learn
again many new things during the hackathon. The idea of digitalization which they have only
heard hypothetically came as a real situation in front of them and they realized the importance of
it to the DBS bank. Thus, the hackathon had an impact on engaging the employee more into the
digitalization process. This also helped in changing the view of leader towards the digibank and
helped in the change management process.
The hackathon also served as a system to get feedback from stakeholders. The employees who
participated in the activity gave their personal insights and inputs on the digibank and how things
can be done in a better way. The activity also involved gathering data about consumer and
business processes which also helped in getting views from customers or potential customers. In
the due process the hackathon also resulted in a market research in terms of how the mobile
users can be converted into customers and what would be impact of specific decision on the
potential customers.