CUA kicks off its own startup partnership efforts

Financial services provider launches hackathon in Brisbane to come up with new customer products and services

Member-owned financial services provider, CUA, has become the latest corporate to seek innovation through startup partnerships, launching its first hackathon to find new products and solutions for customers.

CUA’s first fully-owned hackathon, which is being hosted with technology startup hubs, River City Labs, is designed to find new financial solutions around key life events for customers, such as purchasing their first home or the birth of a child. The theme of the event is ‘The Forces of Attraction’ and will be open to CUA employees, entrepreneurs, startups and developers.

Teams will be encouraged to design, develop and validate their ideas in individual teams. They’ll then be able to pitch to a panel of judges including entrepreneur and Shake Tank mentor, Steve Baxter, along with CUA CEO, Rob Goudswaard. The winning team will receive $5000 in cash as well as a mentoring session with Baxter.

The hackathon is being held in Brisbane between 4 and 6 August.

CUA’s general manager of business transformation and technology, Sue Coulter, said the initiative is all about generate fresh ideas that can improve member experiences.

“This initiative is an exciting opportunity for CUA members, employees and no-members to work together for mutual benefit,” she said. “It is also an excellent avenue to hear from our employees who are familiar with the CUA business and gain some fresh ideas and new perspectives form outside CUA on how we can better cater for our members’ financial needs.”

CUA’s senior manager of innovation and strategy, Melissa Witheriff, told CMO the business had been leveraging the Brisbane startup community over the past 12 months, along with Sydney-based innovation hub, Stone and Chalk. All of this was driven by the need to bring more diverse thinking into the business.

“With the disruption that’s being experience in fintech, it’s important for us to work closely with the startup community as well as engage internal staff,” he said. “The way we’re focusing on this is very hands-on and proactive. By running our own event, we’re engaging entrepreneurial people to identify great ideas that could meet member needs and turn them into a value creation opportunity.”

According to a recent US report by the Association of National Advertisers, marketers are increasingly turning to startups for innovation, as well as to leverage emerging technologies.

593293

Among brands locally to have embarked on startup initiatives are Mondelez International, through its Mobile Futures Program; FMCG giant, Unilever, through its Unilever Foundry global program; and NRMA ,through its Jumpstart program.

CMO’s latest print issue for 2016 includes a special report on how corporates can ensure their partnerships with startups are successful. Download your free copy of the digital edition here now.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quali...

mark Johnson

Digital advertising continues to dominate marketing budgets

Read more

I am a new satisfied customer with the cryptodriven darkwebsolutions company, they helped me with a very efficient crypter for my company...

Yusef

The CX thinking behind Westfield A/NZ's new brand and digital identity

Read more

I enjoyed reading your article. It all starts from creating a persona of your ideal customer. Once you understand the needs then you can ...

Ardie Cash

4 skills needed for a marketer to sit on boards

Read more

A very prestigious list. Cant wait to see who ends up in this years list. Cheers!!

Diganto

CMO50 2018 is now open for submissions

Read more

Hi, where can I read about the results of the recent Salesforce Digital Advertising 2020 report? I would very much like to look at the an...

Milla Cross

Salesforce chief strategy officer: Why it’s a transformative time for customer service

Read more

Latest Podcast

More podcasts

Sign in