Santander is offering to share of £20,000 to ambitious young innovators who can help solve some of the key technological issues facing the financial industry. The Big Ideas competition aims to help people identify and develop solutions, with participants retaining ownership of their work.
The Big Idea is made up of 3 challenges:
- The future of semantic search – With more and more content and data being generated by both customers and banks it’s a challenge for front office staff to find answers to complex queries quickly and efficiently. How would you search for meaning in a sea of data?
- The future of digital authentication – How can personal information be protected in the digital age? What do you think is the ideal way to verify your online identity?
- The future of virtual banking – Virtual reality is the seamless transition from the physical world to the virtual world. How can Santander use this technology to improve the customer experience?
Applicants with a big idea need to be a UK or international student or recent graduated in the last 5 years. Santander is encouraging people to work in teams since in the second part of the competition they'll be asked to develop a prototype.
The closing date for entries is 15 January 2016, with proposals judged on the basis of creativity, feasibility, viability and credibility.
Prizes worth £20,000 are up for grabs, split into:
- Best overall phase 1 submissions: up to 30 prizes of £50
- The future of semantic search category winner: £5,000
- The future of digital authentication category winner: £5,000
- The future of virtual banking category winner: £5,000
- Santander creative thinkers award for the most forward-thinking proposal: £3,500
Finalists will also be given the opportunity to:
- Develop ideas with engagement from Santander’s innovation team.
- Present their idea to Santander’s senior and executive teams.
- Gain valuable experience for their CV.
- Apply academic theory to real business challenges.
Find out more about the competition on Santander’s Universities Enterprise Portal.