News & Announcements

CIMB Bank-MDEC InnoChallenge Winners Announced!

5 Aug 2015

Top 5 innovative ideas set to receive a total of RM45,000 in cash prizes.

KUALA LUMPUR, 5 AUGUST 2015 – The CIMB Bank-MDEC InnoChallenge finale concluded with the announcement of 5 prize winners earlier today at the Aloft Hotel in Kuala Lumpur. The exclusive ICON-developer-only competition is an ideation challenge under the collaboration of CIMB Bank and MDEC to support the growth of local tech/SME companies by providing a rewarding platform for them to compete with one another. The competition also served as a showcase of talent and capabilities of the developers to industry players. The challenge was divided into 3 categories which are “Fintech solution”, “Social & Lifestyle” and “Gamification”.

Team AAAA emerged victorious as the Grand Prize winner with their concept of the AAAA app that does XXXXXXX XXXXXXXX XXXXXXX. The team were presented with the grand prize of RM25,000 by the Chief Executive Officer of MDEC Dato’ Yasmin Mahmood and the Chief Information Officer of CIMB Bank Ramesh Sundararajan during the prize-giving ceremony. There were 4 other teams that made it to the finals and each of them received a consolation prize of RM5,000. The judges saw a lot of great ideas coming from the participants throughout the competition however Team AAAA’s AAAA app proposal was the one that stood out the most with its practicality, economic viability, value-added capabilities and innovative application.

[CIMB CIO’s quote]

“The InnoChallenge competition itself is a proof of concept that with the right platform, incentives and encouragement, our local talents are very capable of coming out with world-class solutions. It is not far-fetched to say that by the year 2020, Malaysia will be one of the powerhouses for big data analytics and solutions in the ASEAN region”, says MDEC COO Ng Wan Peng.

For more information on the CIMB Bank-MDEC InnoChallenge, kindly head over to