Emirates Islamic launches ‘Innovation Challenge’
Dubai, November 25, 2013
Emirates Islamic, a leading Islamic financial institution, has launched “The Innovation Challenge,” a competition that calls on students of UAE universities to devise new social media solutions for the banking world.
As an inter-university competition, it provides a platform for qualifying teams representing their universities to battle it out for the “Innovation Champion” title.
Teams of six students were required to register their interest in participating ahead of the launch meeting at Emirates Islamic’s head office.
Working with mentors from their faculties and from the bank, the teams will develop new means of using the existing social media channels to improve Emirates Islamic’s customer database within key demographics at the same time as strengthening the brand through greater advocacy.
They will also be tasked with how to improve the bank’s cross-sell opportunities and how to use social media to attract and retain new talent.
Following the first meeting with the bank and faculty mentors, the teams will work towards submitting final proposals by December 5.
These submissions will be reviewed by Emirates Islamic’s Innovation Team which consists of industry experts and technology practitioners, and a short list of participants will be invited to present their proposals to Jamal Bin Ghalaita, chief executive officer, Emirates Islamic on December 11. The team will focus on finance, innovation, practicality and quality of submission.
The winning entries will be announced at an awards ceremony to be held on December 23, where they will be presented with a medal of accomplishment and certificate, in addition to a cash prize and internship at Emirates Islamic.
The winning team’s university will also receive a token contribution from the bank, while all participants will receive a certificate of participation for their efforts and a token of appreciation for the students.
Bin Ghalaita said: “Our commitment to bring the best solutions to our customers means that innovation is always at the core of our offering. Social media is rapidly and continuously evolving and who else to teach us about these new channels other than the youth.
“Through this competition, we are reaching out to the young people in the community to source innovative projects that will enable us to maximise the opportunities presented by social media channels.” - TradeArabia News Service