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Technology is the building block of societies today, and YES Bank, through partnerships with tech giants such as Microsoft, Cisco, IBM and Adobe, is looking to address India's urban development concerns through that route.
The bank has joined hands with 12 global leaders as it prepares to announce the launch of the seventh edition of ‘Transformation Series’ on Monday.
Collaborative innovation
This edition of the challenge will focus on Collaborative Innovation – Collaboration as a Service (CaaS), said Amit Shah, Country Head, Corporate Strategy and Fintech at YES Bank. He told BusinessLine over phone that the Transformation Series was voted the second most prestigious B-School Competition in 2018 by Dare2compete.
Over 30,000 students submitted solutions last year of which the top three were selected by the NITI Aayog’s Atal Innovation Mission. “Ministry of New and Renewable Energy and NITI Aayog provided challenges in the last two years,” he added.
Rana Kapoor, Managing Director and Chief Executive, YES Bank, noted that “Collaboration within or across industries is inevitable. CaaS is an extension of the bank's ART (alliances and relationships driven by technology) philosophy. It will help provide creative solutions to issues of national importance by leveraging the insights of young minds and our global partners.”
The issues identified include over-utilisation of plastic and declining air quality in cities.
Shah said over 75.000 students have participated in the challenge since its launch in 2010. “We receive thousands of applications every year. The top 15 teams will get to work on issues national importance in partnership with NITI Aayog.
A cash prize of ₹5 lakh will be awarded to the winning team, followed by ₹3 lakh and ₹2 lakh to the runners-up. Finalists will also get an opportunity for pre-placement interviews with the bank, he said
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