How do you ensure you’re working towards having the best customer experience in the world?
You ask the world to help you.
Having our finger on the pulse of fintechs worldwide is very important to us. When we learn about a startup doing something interesting, we want to be able to find them, reach out, work together, and bring amazing opportunities and innovations back to Alberta, and to our customers. So this year, we held our very first innovation challenge.
An innovation challenge is a fun, interesting, and rewarding way of solving a problem, because it invites startups from around the globe to submit their pitches and proposals for a chance to work with the creator of the challenge—which in this case, of course, was us!
But before we launched the challenge, we had to actually figure out what it would be. This process was surprisingly fun, and involved teaming up with Matchi (now owned by KPMG), a startup from South-Africa whose business was centred on connecting large financial service companies with innovative startups—essentially, acting as a fintech matchmaker.
We landed on exploring customer onboarding and experience, and how we can make it even better, and nearly 60 submissions later, we’ve got a new work buddy. Avoka, a fintech out of Australia, has powerful tools to streamline the customer onboarding experience, and we’re now working together to figure out just how their technology could be applied to our unique environment.
This is the first time in ATB history that we’ve held an innovation challenge of this scale, and it’s been an incredibly positive process. From getting our teams collaborating in new and exciting ways to working with new fintechs from the other side of the globe, we’ve gotten so much out of the experience, and have discovered solutions we may have never discovered otherwise that we can bring back to our customers in Alberta in our efforts to continuously reimagine banking.
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