School's out but RBC's student prototyping challenge is in session

School's out but RBC's student prototyping challenge is in session 
Post-secondary students and recent grads are put to the test and awarded 
$5,000 for best prototype 
TORONTO, June 24, 2013 /CNW/ - Five post-secondary students and recent 
graduates have been named the winners of the first ever 24 hour RBC Next Great 
Innovator (NGI) Challenge Prototyping Event. The team was awarded $5,000 by a 
panel of RBC executives for creating a working prototype, including social 
media components, that would make everyday banking easier. 
"It's been a really eye-opening experience for us to work with the students - 
we've been able to explore many creative and fresh ideas and concepts," said 
Avi Pollock, vice-president, Innovation and Strategic Planning, RBC and a 
judge of this year's competition. "We pride ourselves on being leaders in 
innovation at RBC, always finding new and better ways to do things. Becoming 
the first bank in North America to hold a 24 hour prototyping event seemed 
like a natural evolution of the NGI program." 
The official challenge question asked participants to use the shared 
development platform,, to "build an innovative prototype for a 
mobile, tablet, web or desktop app that utilizes the power of social to 
seamlessly integrate banking into the daily lives of our clients." 
The winning team was selected from 54 teams and 153 post-secondary students 
and recent graduates, representing 22 schools across Canada. Their prototype 
and idea focused on transferring money and sharing product and educational 
information between mobile devices by tapping them together. 
"The experience of taking part in the first ever NGI Prototyping Event has 
been amazing. We walked away with a great prize, successfully solved a 
real-life business challenge under intense pressure and also got to present to 
senior executives," said Matthew Clark on behalf of the team. "The challenge 
put us to the test and we learned so much along the way. We're so proud of 
what we achieved in the last 24 hours and that we were named the winners of 
the challenge." 
Participants had a week to prepare and 24 hours, from June 21 to 22, to bring 
the prototype to life, including presentations to a judging panel. The top 
five finalist teams underwent a second round of judging by a panel of RBC 
executives. An RBC recruitment booth was open to all challenge participants 
during the event. 
For the past seven years, the RBC Next Great Innovator Challenge has taken the 
form of a nation-wide competition that asked college and university students 
to answer a real-world business challenge by providing an innovative idea. 
This year, the initiative took on a new approach to include four separate 
challenges taking place at various times throughout the year, including the 
new 24 hour prototyping event. Since its start in 2006, over 2,300 students 
have participated in the RBC Next Great Innovator Challenge. 
Over the years, numerous ideas put forward by NGI participants have been 
tested and streamlined in the RBC Innovation Experience Lab and some have been 
developed for use at RBC. The telepresence technology in RBC retail stores was 
produced based on the past winning submission, the VIBE interactive personal 
banking workstation. Prototype submissions from this year will follow the same 
For more information on the RBC Next Great Innovator Challenge Prototyping 
Event, visit the website, follow it on Twitter @rbcinnovator or become a fan 
on Facebook. 
Media contact: Lauren Raley, RBC, 416 313-6496, 
Image with caption: "The winning team of the first-ever 24 hour RBC Next Great 
Innovator Challenge Prototyping Event, Team Mobilify, celebrate their 
achievement and $5,000 prize. (CNW Group/RBC)". Image available at: 
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ST: Ontario
-0- Jun/24/2013 15:00 GMT
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