Hackathons reinventing the bank
Aiming for strength in numbers, Societe Generale is pursuing the development of its open innovation system and extending its reach to partner communities and their creativity. In this spirit, the bank has organised hackathons and challenges in order to identify projects with the potential to reinvent banking relations for the digital age and successfully transform the company.
Open innovation is a method of applying the IT open source approach to innovation: sharing, exchange and an emphasis on the multiplicity of players. From an entrepreneurial standpoint, this involves connecting a company to its environment (research labs, clients, partners, etc.), developing working relations with players outside the company structure and mobilising all employees.
Igniting the startup within
By guiding young startups, customers and employees through the process of co-creation, the company creates an open ecosystem, a “collective sandbox”, where all players work to build the most impressive castles, as colourfully described by Aymeril Hoang, Head of Innovation at Societe Generale. The purpose? To generate ideas and inventions, and ignite startups that might be the Facebooks and Twitters of tomorrow.
10 Learning Experiences
In reality, these collective sandboxes take several forms: open competitions, OpenLabs or simply taking into account customers’ feedback on social networks. The bank organises “hackathons” to encourage creative exchanges with the world of high-tech. Fun and collaborative events, they bring together students, engineers and Group employees who work for several days on ideas that aim to reinvent the bank.
Following these events, a number of ideas were put into action and are now in the production phase. An example: the Star Drive application developed by the Group’s Insurance business line, which allows users to evaluate their driving skills, and gives top drivers the chance to earn rewards. Star Drive is a Pay-How-You-Drive pilot project, combining an embedded connected device and an auto insurance policy based on driving behaviour.
Accenture FinTech Innovation Lab in Hong Kong
September 2017 - On 22 September and as part of the Accenture FinTech Innovation Lab Hong Kong 2017, six entrepreneurs presented and discussed their business models and innovations with senior managers from Societe Generale’s various services, businesses and support functions. A wide range of topics were covered, including Blockchain, financial management, machine learning and automation.
FinHACK, a 36-hour FinTech hackathon in Hong Kong
July 2017 – The FinHACK Hackathon was organized to help promote innovation and the development of Hong Kong’s FinTech ecosystem. During 36 hours, students, entrepreneurs, coders and developers worked together to design and develop innovative solutions addressing business challenges like Blockchain, Artificial Intelligence and ChatBots, Big Data or RegTech, InsureTech and WealthTech.
Komercni Banka Hackathon in Prague
March 2017 - KB staff, startuppers, finance professionals and entrepreneurs all working together for 48 hours on one theme: "a bank of the future you can count on, wherever you are", supported by the business incubator StartupYard.
The Hackathon #Manager2020
#Manager2020 is a two-day co-creation sprint at Les Dunes, the Group’s new technology hub. The participants’ objective: in multidisciplinary teams, work to invent innovative, concrete and operational managerial practices based on four themes: positive management, quality of life at work, participatory practice and the simplification of management methods.
Discover the winning projects
Societe Generale Private Banking hackathon in Paris
January 2017 - Ecole 42 students, Societe Generale coaches, 48 hours of teamwork, 4 themes, 1 objective: simplification
Open Innovation Challenge in Serbia
November 2016 - Societe Generale Srbija and its partner ICT Hub brought together startuppers, designers, creatives and technicians and challenged them to create innovative prototypes on five themes: the hybrid bank, the knowledge bank, the digital bank, the freelance bank and the bank of the future.
Innov’ Days: a Pan-African hackathon in Dakar
February 2016 - With the challenge of “reinventing the customer's in-branch experience together”, the hackathon was open to all developers and start-ups in Sub-Saharan Africa. The awards ceremony began with the announcement of the Africa Innovation Lab.