November 2014 – Credit Suisse ‘Wear the Future’ Challenge

Credit Suisse

***Example Only- this Competition has now expired***

To be presented at the ITMB North Event 2014

This competition is sponsored by Credit Suisse with a first prize of £500 and the first year trophy up for grabs! This competition is for first year ITMB students only*. Please read all the details, including the competition rules, carefully.
The idea of wearable computers has been around for a while but only now have computer power, data connectivity and phones allowed us to think about adopting it. From smart watches and Google Glass to fitness trackers, this new wave of technology brings information quicker to you than checking a smart phone!

Wearable Tech- Background

We are seeing an ever evolving application of internet connected devices in everyday life situations. With wearables translating physical movement into digital data, we are able to control and manage devices and analyse our own physical performance. There are no boundaries with wearables. It is already impacting the world of health, medicine and games. According to Gartner, the strongest consumer base for wearable technology is fitness enthusiasts, but wider interest in these devices is leading to broader adoption. Each industry sector is searching for ways that wearable electronics can enhance both their business and consumer experience.

Now Apple Watch has revolutionised the mobile payment business and will enable us to check in at the airport or open a hotel room door at the wave of our wrist. Through wearable technology, a number of banking, speech recognition and augmented reality apps are slowly entering the market. This could significantly change consumer behaviour and customer service experience. How can you use wearable technology to innovate and revolutionise the financial industry? Our competition is sponsored by Credit Suisse who are particularly interested in the adoption of such devices in the Finance sector.

Competition Question

How can you use wearable technology to innovate and revolutionise the financial industry?
Submit an innovative solution that uses wearable technology to resolve a challenge or enhance consumer experience within the Financial Industry. Thinking about the future, develop a concept and share it through a poster and/or digital platform.

The task

Explain the personal, environmental or business challenge you will be addressing.
What is your idea / product?
How does it benefit its target audience?
How will it benefit financial companies such as Credit Suisse?
What needs to be done to turn your idea into reality? Think about the business model taking into account key risks and limitations of your idea / product
How will you market your idea / product and ensure it is widely adopted by your audience? Think about benefits to the sector.
At the ITMB Student/Employer event on 26th November, your group will present your idea in the form of a either a poster, preferably through a digital platform such as a video/YouTube trailer, Prezi or infrographic (the more creative, the better) to an employer panel of approximately 6 – 8 judges.

Competition Rules

* Please note- This page is for first year ITMB students only. Second/final years and MSc students can access their competition details here.Teams to consist of 4-8 individuals per team, the optimum being 5 or 6.

All first year students should be encouraged to take part but only ONE first year team from each University will be eligible to go forward to present at the Event on 26th November.
It is recommended that Universities to use ‘Knock-Out’ rounds to determine their best entry to take forward to the Event on 26th November.
Each team is required to produce digital material to outline / market your product / idea. The entry going forward to the Event needs to be with e-skills UK by COB Friday 21st November 2014 latest to ensure we can distribute to employer judges. This gives judges time to consider your solution before the day.
You will have a maximum of 5 minutes (across all mediums) to present your idea to the judges. This will be followed by a further 3 minutes of Q&A.
If you are producing a video as part of your presentation, this is only a small part of this exercise. Employers will select the winner based on the overall idea, research and business considerations.
Please register your final team by COB Wednesday 29th October 2014 to ITMB@thetechpartnership.com including team members, their contact details and the university you are representing. Clearly state in the subject of the email: ‘1st Year Competition Entry – University XXX’. Where you do not know team members by this date as knock-out rounds have yet to be completed, please still register team with ‘names to be confirmed’. Registering by this date will ensure we are able to plan appropriate facilities and internet access for all entrants.

Recent news & useful websites

Banks need to consider wearable technology now http://www.banktech.com/innovation/banks-need-to-consider-wearable-technology-now/d/d-id/1297688

Austrian bank trials Google Glass http://www.computerweekly.com/news/2240213921/Finance-sector-early-adopter-of-wearable-technology

Fashion meets Finance https://www.fiserv.com/blog/the-point/wearable-computing-financial-services.aspx

Apply Pay is the same as Google Wallet? http://www.forbes.com/sites/quora/2014/09/18/why-do-people-think-apple-pay-is-so-innovative-when-an-equivalent-has-been-part-of-android-for-two-years/

http://wearableintelligence.com/

http://www.digitaltrends.com/mobile/google-glass-android-wear-talk-tech-behind-tech/#!bcfRNn

http://www.techrepublic.com/article/looks-are-everything-in-wearable-tech/