HCT & Mashreq Bank Collaborate to Implement Students’ Digital Banking Innovations
The Higher Colleges of Technology, (HCT), the UAE’s largest applied higher educational institution, announced its partnership with Mashreq Bank, one of the leading financial institutions in the UAE, to launch a unique digital banking competition, entitled ‘THINK BANK.’
Under the competition, HCT’s Business students will have the opportunity to submit innovative ideas and solutions related to digital banking. To date, the response has been very positive, with approximately 40 unique entries from the HCT campuses, which are also submitted as part of their Capstone Project for the following semester.
Dr. Aysha Abdulla, HCT Executive Director of Business programs, emphasized the importance of this competition, an initiative of Mashreq Bank, which aims to invest in students’ new and innovative ideas to provide customer centric solutions to industry challenges within the digital banking space.
She highlighted that the HCT regards innovation as an integral part of the continuous learning process in applied education, which is based on the implementation of innovative projects, as well as the “Hybrid Education” model. This model has enabled thousands of HCT students to receive academic degrees from HCT and professional certificates from international awarding bodies, concurrently.
“This exclusive THINK BANK’ competition will allow Business students, especially those in their final year, to research developments in digital banking services in accordance with global best practices and to design innovative ideas aimed at solving challenges within the digital banking space that Mashreq could invest in and implement. Students will benefit from enhancing their banking services knowledge and expertise through turning their ideas into reality,” Dr. Aysha added.
Speaking about the initiative, Ibrahim Al Mheiri, Head of Mashreq Al Islami & UAE National Segment at Mashreq Bank said, “We are thrilled to partner with the Higher Colleges of Technology on this exciting competition that will draw the creative and unique perspectives from some of the best young talent in the UAE. Digitization has always been a crucial part of our strategy at Mashreq, and this initiative will enable us to get a fresh viewpoint towards solving industry issues within the digital banking space, and eventually help make a difference for our customers.”
He added: “THINK BANK also allows Emirati students to develop their critical thinking and generate solutions to complex industry issues that they will further experience over the course of their professional careers. We hope to engage in many more initiatives such as these in the future, as part of our focus towards investing in Emirati youth and talent, as well as supporting our region as a hub for forward thinking.”
This competition will operate for a period of 15 weeks under the supervision of a panel of arbitrators consisting of representatives from HCT and Mashreq Bank. Winning students will receive various prizes and have their ideas implemented by the Bank.