DCB Innovation Carnival Concluded with a Great Success

The year 2017 was the advent of Technological transformation in financial services. In 2018 there will be more collaboration between FinTech (financial service startups) & Banks. It will blur lines between traditional products (retail, payments & insurance in particular), and the acceleration of the convergence of technologies including improved Customer Experience, Conversational banking, Artificial Intelligence, Mobile, Blockchain, IoT, Robotics, Automation and Security. Banks will evolve more Mobility & Digital to provide an seamless Ecosystem to Customer.

Innovation Carnival is an initiative to promote the development of financial technology for DCB Bank and its customers with help of Fintech. Bank look forward for innovations in Lending, Risk management, Trading, Investing, Personal finance, Big-Data, Retail banking, Regulatory compliance, Mobile payments, Security and Enterprise social.
They have been organising this Hackathon “DCB Innovation Carnival Hackathon” with an intension of bringing together participants like Start-up/FinTech ventures, Institutes, developers and designers to develop financial products and discover new technologies for DCB Bank across 7 location over last 1 year.

“Innovation is my passion, execution is my action,” says a organizer of Innovation Carnival- Smart Card Expo at Pragati Maidan, Chief Innovation Officer at DCB Bank, Prasanna Lohar. His speech was intended to 25 innovative startups being part of the finale.

Having a professional background in product development and risk audit management, the Prasanna is known as a promoter of Global Innovation program “DCB Bank Innovation Carnival”. Being a Technical Architect, Prasanna Lohar is in charge of developing innovation and working with multiple corporate & forums in India. As part of DCB’s Digital Transformation, the he is closely associated with the latest technology assimilation, experimentation and innovative practices in collaboration with banks and blockchain-based projects. Over the last two years, he has been listed to TOP 50 CIO, Top 100 Innovative CIOs and Top 20 BFSI Leadership award.

Pragati Maidan, New Delhi. This year, the event carried the theme of “Be Innovative. Master with DCB” and introduced various Fintech solution while promoting a local innovation and technology culture.

Mr Prasanna Lohar, Chief Innovation Officer, DCB Bank; Abhijit Shah, CTO at DCB Bank; officiated at the opening ceremony, “Strengthening popular innovative solution and increasing public awareness are essential in driving Innovative solution development. Through a wide variety of activities, the Innovation Carnival promotes innovation and entrepreneurs across the community and raises public awareness of the importance of Co-Innovation to the economic and social development of India. I hope the carnival would encourage the public, in particular the younger generation, to have more interest in Innovation and Startups, as well as inspire them to pursue a career in the field and work for the betterment of society,” he addressed.

The two-day Innovation Carnival 2018 showcased a wide range of local innovative inventions. More than 25 handpicked innovative startups generated a great deal of interest, including a double security system to verify a person’s identity with behavioural characteristics of motions, a Blockchain enable trace-ability and SMEBanking (Rekochain) System.