Canara Bank unveils Data and Analytics Centre in Kerala's Kochi
Kochi: Canara Bank opened its new Data and Analytics Centre (DnA), equipped with state-of-the-art facilities to support innovation and collaboration.
"By establishing this facility in Bengaluru, we consolidate our position and embrace a future of data-driven banking. AI is reshaping our lives in unprecedented ways and we are committed to adopting it to spur the business growth, while ensuring data privacy and security. The world is exciting with the ethical use of AI, and we are right there," K. Satyanarayana Raju, MD & CEO, said in a statement.
"The facility, launched on January 1, marked another milestone in the Bank's transformation journey as the Bank entered into partnerships for data lakehouse implementation and establishing Advanced Analytics Platform and Data Lake in Cloud."
"We have been at the forefront when it comes to leveraging Analytics for improving customer experience and operations."
A host of analytics initiatives in the areas of customer experience, business generation and employee upskill using AI/ML were also launched thereafter.
The Bank also held the grand finale of its DACOETHON – Data Analytics Centre of Excellence Hackathon, where finalists from across the country competed over themes of customer experience, fraud prevention, and default prediction.
The teams presented their prototypes, which were evaluated by a technical jury, and the winners were awarded attractive cash incentives.
The Canara Bank hackathon event (DACOE-THON), spanning from October 20th to November 5th, witnessed an impressive registration count of 2899 participants. Among them, 256 innovative ideas were selected to advance to the next phase.
From November 13 to 30, 24 prototypes emerged as standout solutions, paving the way for the subsequent presentations.
On December 5, 11 prototypes showcased their potential, leading to the selection of five finalists for the ultimate showdown.
Finally, on January 1st, 2024, these top five contenders delivered compelling presentations at the hackathon finale.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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