DBS Bank Breaks Standard Hiring Practices to Recruit Staff via Hackathon

February 21, 20178:52 am3118 views

Singapore’s DBS bank announced plans to ditch the resume-interview process to find the next suitable hires. The leading financial institution plans to hire 100 developers through a Hackathon, coding challenge.

Cementing its position, as the leading bank to go digital and reimagining banking in the digital era, this unusual hiring practice is the first-of-its-kind in Southeast Asia. DBS Hack2Hire challenge is open to fresh graduates and experienced professionals, who can hack their way to secure a job at DBS.

The hacking challenge comprises of two parts – an online assessment to gauge the programming and technical capabilities of candidates and a live two-day hackathon session wherein the candidates approach to problem-solving skills will be put to test.

Shortlisted candidates from the second round will be chosen for a job role as coding professional for a full-time role at DBS. The recruitment drive is held in collaboration with technology providers Amazon Web Services, Cloudera and Pivotal.

“We are seeing rapid advancements in banking technology using cloud, machine learning and Big Data, which are paving the way for a new world of seamless banking. We want to bring developers well-versed in these new technologies into the bank to accelerate our digital transformation efforts. We believe that recruiting via a hackathon is an innovative and effective way to attract the right talent,” said Soh Siew Choo, DBS’ Group Head of Core Systems Technology.

“We are pleased to play a strategic role in accelerating DBS Bank’s digital transformation journey with Amazon Web Services.  It is impressive that a financial institution like DBS is using new, innovative ways to bring in talent with cloud development skills, and we are delighted to support them while grooming the technology leaders of tomorrow,” said Nick Walton, Head of ASEAN of Amazon Web Services.

See: DBS – First Singapore Bank to Adopt Cloud-Based Productivity Technology in the Workplace

“As the banking industry and its customers embrace digital in the face of the fourth industrial revolution, the need to utilise data for meaningful decision making and improving customer experience will only keep growing.” said Daniel Ng, Senior Director, Asia Pacific, Cloudera. “Bringing in talent with this new approach demonstrates DBS’ commitment to transforming its operations. We are thrilled to play a role in helping DBS shape the future of banking and develop smart talent for success in this digital era.”

Lionel Lim, Vice President and Managing Director, Asia Pacific and Japan, Pivotal said: “The financial services sector is a key driver of Singapore’s growth. Forward thinking organisations such as DBS are partnering with Pivotal to digitally transform their operations to innovate with the speed and agility of a Silicon Valley software company. Moreover, DBS’ transformation journey will enable greater possibilities and opportunities for their business, customers and the country’s workforce. We are extremely happy to collaborate with DBS in their transformation efforts to push the frontier of banking technology.”

Over the last five years, DBS has made significant investments in strategic technology initiatives to weave banking into the everyday life of its customers so that they can spend more time on people or things that they care about. This includes initiating a comprehensive re-architecture of the bank’s technology as well as catalysing a change in culture within the bank to one that is more “fintech-like” in nature.

DBS launched digibank, India’s first mobile-only bank, last year and has plans to introduce this groundbreaking service in other markets. It was also the first bank to be recognised as the “World’s Best Digital Bank” by prestigious financial magazine Euromoney in 2016.

Also read: Initiative by DBS Bank Singapore towards Shaping the Future of Finance Industry

Image credit: todayonline.com

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