Initiated in partnership with CIH BANK and jointly supported by the AUI Employability and Entrepreneurship Office (EEO) and the CIH Bank Innovation Hub, will place particular emphasis on the adoption of dematerialized payments or cashless in an innovation approach in particular to meet the challenges of the 2030 World Cup, indicates a press release from the organizers.
Selected from around a hundred candidates, 30 students will participate in the final phase of this competition open to all courses and academic levels, to promote interdisciplinary collaboration.
Supervised by 15 mentors from CIH BANK and AUI, explain the organizers, they will have to develop solutions based on artificial intelligence to improve the customer experience by taking into account the increased needs for fluidity and security of transactions within the framework of international events.
“The 2030 World Cup represents a unique opportunity to accelerate the widespread adoption of Cashless in Morocco. This transformation is not only a technological necessity but a strategic response to global economic demands”, underlines the same source .
“We are therefore looking forward to discovering the innovative solutions that the students will propose to the jury, which could even become a reality on a national scale,” said Deborah Bartlett, Director of the Office of Employability and Entrepreneurship at AUI, cited in the press release.
“At CIH BANK, we firmly believe that the future of financial services lies in innovation and digital transformation. The collaboration with Al Akhawayn University through the Bankathon is an exceptional opportunity to identify and encourage the talents who will shape this future”, affirmed, for his part, Ismail BenMbarek, Head of Development Partnerships and Subsidiaries at CIH BANK.
He added that “by exploring solutions based on artificial intelligence, we can not only improve the customer experience, but also support the transition to more cashless services. We look forward to discovering the projects we will present to the students “.
In addition to the problem of dematerialized payments, participants will also have the opportunity to propose their solutions on other themes in the banking sector.
These are, it is specified, “Business: Adapt services to the specific needs of customers”, “Human Performance: Promote a global approach to banking services instead of a silo organization”, “Marketing: Develop strategies to promote new services. “Coding: Creating predictive tools and intuitive interfaces” and “Data Science: Harnessing data to personalize services”.
The Bankathon will begin on Friday with the presentation of mentors and coaches, followed by a full day of team work on Saturday. The projects will be presented and judged on Sunday, with prizes awarded at the end of the pitches.
A jury of 6 members, from CIH BANK and AUI, will evaluate the projects according to criteria of innovation, feasibility and impact.
In addition to attractive prizes, winners will benefit from professional opportunities, such as a networking dinner with a member of the CIH BANK board of directors, internship offers and an immersion day with a bank manager.
The Office of Employability and Entrepreneurship at Al Akhawayn University believes that every student has a multiple future. Its goal is to ensure that each student benefits from multiple job or investment offers even before graduating.
The office establishes valuable connections between students and the Moroccan and MENA markets. Whether students aspire to begin their careers, work remotely for renowned companies, or start their own business, the office provides them with the essential resources to
CIH BANK is a universal bank intended for individuals, professionals, businesses, as well as the real estate development sector. Thanks to a wide range of banking products and services, the Bank covers different areas of expertise, thus meeting the diverse needs of its customers.
Committed to anticipating the expectations of its customers, CIH BANK constantly develops personalized solutions to meet the specific requirements of each market segment. This dynamic approach allows the Bank to adjust to changes in the banking sector and to offer ever more relevant offers.
By combining digitalization and proximity, CIH BANK offers an optimized banking experience, supported by a network of more than 336 branches and 716 automated teller machines across Morocco, thus allowing quality service and optimal accessibility for its customers.
This combination of advanced digital services and a large branch network makes CIH BANK a player of choice for all those looking for financial solutions adapted to their expectations.
What is the purpose of the Bankathon in promoting cashless payment systems in Morocco?
Interview between Time.news Editor and Expert on FinTech Innovation and the Bankathon
Time.news Editor (TNE): Welcome to the show! Today, we have a fascinating topic to discuss: the upcoming Bankathon that aims to foster innovation in the banking sector, particularly focusing on cashless payment systems. Joining us is Dr. Amina El-Mansouri, a FinTech expert and professor of digital finance at Al Akhawayn University. Thank you for being here, Dr. El-Mansouri!
Dr. Amina El-Mansouri (AEM): Thank you for having me! I’m excited to delve into this important initiative.
TNE: Let’s dive right in. The Bankathon, initiated in partnership with CIH BANK, is set against the backdrop of the upcoming 2030 World Cup. Why is this event particularly significant for the adoption of cashless payments in Morocco?
AEM: The 2030 World Cup presents a unique platform for Morocco to showcase its ability to handle large international events. As we’ve seen in many countries that have hosted World Cups, the demand for efficient payment systems intensifies. Cashless payments can streamline transactions, reduce waiting times, and enhance overall attendee experience—key factors in making a global event successful. This is an opportunity for Morocco not just to improve its infrastructure but also to showcase innovation on an international stage.
TNE: Absolutely! You mentioned efficiency, but what about security? With the increased adoption of digital payment solutions, there are often concerns regarding transaction safety. How are these aspects being addressed in the Bankathon?
AEM: Great question! Security is paramount, especially in financial services. The students participating in the Bankathon are encouraged to develop AI-based solutions that respond to increasing demands for secure and fluid transactions. With mentorship from CIH BANK professionals, they’ll explore innovative ways to use technology not just to make transactions quicker but also to safeguard customer data and provide secure payment methods.
TNE: Interesting! I see that interdisciplinary collaboration is a hallmark of this competition, with students from various academic backgrounds participating. How does this diversity contribute to fostering innovation?
AEM: Interdisciplinary collaboration is vital for innovation, especially in FinTech. Different academic disciplines bring various perspectives, problem-solving approaches, and skill sets to the table. For example, a student from a marketing background may think differently about customer engagement than one from a computer science program. By working together, they can create more holistic and user-friendly solutions that address multiple facets of banking services.
TNE: That’s a compelling insight. Now, what kind of solutions do you hope to see emerging from this competition? Any specific themes or ideas that resonate with you?
AEM: I’m particularly interested in how participants will tackle the theme of personalized banking services using data science. Today’s consumers are looking for tailored experiences, and leveraging data is essential for understanding customer needs better. Additionally, I’m curious about projects that integrate predictive tools to enhance financial literacy and accessibility among users—empowering them to make informed decisions about their finances.
TNE: Those are vital areas! Lastly, how do initiatives like the Bankathon help students in their careers, especially in the context of a fast-evolving field like financial technology?
AEM: Participation in initiatives like the Bankathon opens up numerous avenues for students. Beyond prizes and recognition, they gain invaluable experience working on real-world problems, which can be a significant boost to their resumes. They also have the opportunity to network with industry professionals, which can lead to internships or job offers. The skills they develop during such competitions—innovation, teamwork, and problem-solving—are exactly what companies look for in today’s job market.
TNE: Thank you, Dr. El-Mansouri, for sharing your insights! The Bankathon sounds like a pivotal event that could shape the future of financial services in Morocco. We look forward to seeing the innovative ideas that will emerge from it!
AEM: Thank you for having me! I’m excited too, and I hope we see some groundbreaking projects that might well influence the future of cashless payments in Morocco.
TNE: And to our listeners, stay tuned for more updates on the Bankathon and its outcomes in the world of FinTech!