In September this year, YES Bank had launched first of its kind bank-led Datathon to boost its Machine Learning, Artificial Intelligence and Embedded Data Analytics units. Yesterday, Yes Bank conducted the grand finale of the 100-day long Datathon by recognizing and awarding the top 10 most promising solutions.
Over 6,000 data scientists/engineers and developers participated in the diverse Machine Learning Challenges. The objective behind the Datathon was to drive rapid prototyping of AI/ML-based products, optimize digital product suite, and enhance product/service design and delivery, in a short span of time, that could eventually add more value to the overall BFSI system.
There were many promising models/products developed during the Yes Bank Datathon, some of the most prominent/promising ones were based on:
- Predictive service delivery to enable the bank to provide proactive service
- Customer Transaction Relation Graph, equivalent to a social network of transactions
- Fraud Detection and analytics for card customer
- Customer Sentiment Analysis to predict Customer engagement, etc.
- Customer 360-tool to provide comprehensive products & services to each customer
- Personal Finance Management tool without requiring access to customer SMS
- Sales recommendation models
The active participation by the hundreds of students from the top engineering/ management colleges as well as top companies was the testimony how popular such Datathon is becoming in India. Developers, having a keen interested in data and finance, are constantly evolving themselves to develop a path-breaking solution. A similar trend was also observed in Yes Bank Datathon. Nearly 200 teams comprising of students and professionals from IIT Bombay, IIT Chennai, IBM, Siemens, Amazon Development Centre and Walmart Labs led in the Yes Bank Datathon. To provide the right direction to their thoughts and idea, there were around 20 top data science experts who constantly guided the teams during the product development process.
The top 20 shortlisted teams got a chance to showcase their final model during the finale. Among them, the adjudged top 10 teams received the cash prize of Rs 20 Lakh in total.
Team Oracle, consisted professionals from IBM and 2 IIM students, won the Yes Bank Datathon for creating a 360-degree view of every retail customer, which eventually predict the next possible action of the customers with the highest level of accuracy.
“YES BANK embarked on a data centred business model as part of our TechTonic initiative and now has a full stack of technology and talent capability built up. In order to leapfrog on this data native transformation, YES Datathon provides us with an opportunity to engage with 6000+ data scientists. It has helped us identify newer use cases as well as statistical techniques and also incorporate cross-industry best practices.’ says Rajat Monga, Senior Group President, Financial Markets, YES BANK.
To keep the roadmap open and all the participants encouraged the Yes Bank would be taking the top 20 identified models to live within a month and the remaining would be moved back to the bank’s product development library for the further enhancement and iteration to make it market fit.