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MANAMA: A three-member panel of judges has been announced for the BisB Innovation Challenge, the Bahrain Islamic Bank (BisB) said yesterday.
Currently running as part of the bank’s partnership with FinHub 973, the Central Bank of Bahrain (CBB)’s digital lab, the fintech competition is challenging globally mature and enterprise ready fintech applicants to brainstorm ideas in ‘Big Data’ and develop a platform that uses adaptive machine learning (AI) empowering the BisB’s financial advisory unit to provide personalised banking to clients.
Convening on Monday, the panel comprises BisB chief information officer Osama Nasr, CBB head of fintech and innovation unit Yasmeen Al Sharaf, and BisB chief of corporate and institutional banking Wesam Baqer.
The winning platform must strategically harness the power of extensive data collection and AI to provide more data-driven insights that are curated to individual customer portfolios, with a special focus on lending products.
The final solution developed will require the use of sophisticated data extraction and analysis in order to effectively integrate unstructured data including key market trends, data points in broker submissions, financial history and factor in customer behaviour.
Ten teams will be shortlisted after the first round of screening, which will be narrowed down to five teams that will compete in a demo day.
The shortlisted finalists will be announced later this month.
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