KCB and Oracle drive digital banking solutions

KCB Bank and technology firm Oracle have signed a deal to develop new solutions for the lender’s future digital banking.

The two firms on Tuesday hosted over 200 technology developers drawn from across Africa for a one-week Hackathon challenge to create cutting edge solutions for the bank.

As part of the challenge, the developers will be required to create a solution that will help scale up KCB 2Jiajiri, the Sh50 billion job creation programme launched earlier this year.

The bank will select the best solutions for roll-out as it seeks to create a new platform to connect thousands of 2Jiajiri beneficiaries.

The partnership, said the bank’s Chief Executive Joshua Oigara, is part of the deliberate investments it is making in deepening its digital banking agenda, which is a key lever of its future growth.

“The goal of this project is to enhance entrepreneurship competencies to create jobs and reduce poverty,” said Oigara during the opening ceremony, adding, “The future of banking is digital and we are deliberately aligning ourselves to this.”

• .

  Keep Reading

• 
  Kenya's top CEOs outlook for 2025
• 
  FKF-PL: KCB tops Premier League table on Christmas
• 
  Busy calendar for State as Raila AUC chair bid enters crucial stretch
• 
  FKF-PL: K'Ogalo cage Kariobangi Sharks to close gap on leaders KCB

Senior Oracle executives attended the event and offered insights on developing the solutions. Oracle Kenya Country Director Gilbert Saggia said: “The Developer Day event is a manifestation of Oracle’s commitment to encourage innovation; support local businesses and tech entrepreneurship in Africa, with the aim of empowering them to create Made in Africa solutions to address local challenges on the continent,” added Gilbert.

Viable product

The contestants will be provided with a problem statement on the evening of October 4 after which they will be given a day to provide a solution and build a feasible prototype. Following this, a panel of judges consisting of experts from both Oracle and KCB will evaluate the entries.

The developers who will be chosen to proceed into the next stage will be given an extra day to develop their program into a viable product that can be applied into the business. The program will then be submitted to the judges for deliberation.

The winning group’s solution will enter into a non-committal agreement with KCB Bank to develop their solution and launch it into the market.