“NCB Bank Wins Big at the Data for Life 2024 Competition with its Innovative Big Data and AI Solution”

Data For Life 2024 is an international competition that aims to discover innovative ideas, solutions, and technology products from young talents in Vietnam and abroad. The competition focuses on leveraging big data and artificial intelligence to address social issues and contribute to the development of a digital government, society, and economy. Organized by the Population Data and Civil Status Center, the Ministry of Public Security’s Police Department of Administrative Management of Social Order and Safety; Hanoi University of Science and Technology; and Vietnam Television (VTV), the contest has attracted widespread participation.

In just over two months, Data For Life 2024 has received an overwhelming response with 376 teams from across Vietnam and international submissions from Australia, Singapore, South Korea, and Indonesia. The final round witnessed six outstanding teams presenting their creative digital products and solutions, showcasing their talent and forward-thinking approach.

As a “rookie” in the Data for Life competition and a relatively new player in the field of information technology in the financial banking sector, NCB’s team impressed the judges with their project, “Cloud-based Integrated ML Model and Feature Serving Platform.” Their solution showcased a feasible approach to utilizing artificial intelligence (AI) and population data to enhance social welfare services and economic development.

NCB’s Cloud-based Integrated ML Model and Feature Serving Platform aims to efficiently deploy machine learning models and optimize resources in technology and AI across various social domains. The system employs a range of optimized algorithms, from processing raw data to optimizing variable calculations, ensuring quick and accurate responses to all requests.

With its adaptability, high applicability, and ease of integration, NCB’s solution can effectively support the deployment of machine learning models and optimize resources in technology and artificial intelligence across diverse social sectors, including healthcare, education, security, and social welfare.

“We highly appreciate NCB’s investment in innovation and the practical implementation and wide applicability of their solution, which contributes to the government’s digitization goals,” said Mr. Dinh Viet Sang, Vice Principal of the University of Information and Communication Technology, Hanoi University of Science and Technology, and a representative of the Data For Life 2024 judging panel.

Sharing their excitement, Mr. Nguyen Van Khanh, leader of NCB’s participating team, expressed: “NCB is proud to be part of such a meaningful event that fosters creativity and encourages the application of data science in daily life. We are honored that our solution, which we have dedicated our hearts and minds to, has been highly regarded. This recognition fuels our determination to continue our digital transformation journey and make meaningful contributions to the community.”

Over the past two years, NCB has consistently invested in infrastructure and technology solutions to materialize various initiatives and implement complex digital transformation projects. The bank has also forged partnerships with leading global and domestic technology partners to implement solutions such as the Cloud Infrastructure and Data Lake Platform on Google Cloud, Customer Relationship Management (CRM) Platform, Artificial Intelligence and Machine Learning (AI/ML) Platform, and the Decision Engine. These collaborations enable NCB to efficiently adopt new solutions, models, and technologies, reinforcing their commitment to comprehensive digital transformation and their new strategic direction.

Recently, NCB took the lead in offering its customers a superior banking experience by being the first bank to integrate the account opening feature from the Ministry of Public Security’s electronic identification application, VNeID. By connecting the NBC iziMobile application with VNeID, citizens can now conveniently and securely open bank accounts and access banking services, promoting cashless payments and digital transformation. Moving forward, NCB will develop products and services that leverage population data to better serve the bank’s operations and positively impact the development of a digital economy and society, aligning with the government’s vision.

The award received at the Data for Life 2024 competition is a testament to NCB’s determination and efforts in its robust digital transformation strategy, constantly enhancing value for its customers and bringing meaningful contributions to the community and society.