THE GREAT BANKING BETRAYAL: Absa’s So-Called "Hackathon" Exposed
A recent "hackathon" hosted by Absa, one of Africa’s largest banks, has left many wondering if the true intention was to create innovative banking solutions or simply to boost employee morale. The event, which saw three teams of Absa employees emerge as winners, was touted as a platform for colleagues across Africa and Europe to contribute to critical business priorities through innovative digital interventions.
But what exactly did these so-called "hackers" come up with? Did they create revolutionary solutions that would disrupt the financial industry or simply rehash tired ideas that would line the pockets of their corporate overlords?
The winning ideas, which were supposedly aimed at delivering 10 times the impact across the organization, were allegedly selected across three categories: first, second, and third place. But what exactly did these winners achieve? Were they able to solve the pressing business challenges that plagued the bank or did they simply create flashy presentations to impress their bosses?
The group of winners, who showcased "collaboration and talent," according to Absa, included colleagues from Botswana, South Africa, Mozambique, Ghana, Kenya, Seychelles, and Prague. But did these "winners" truly innovate or did they simply coast on the back of their corporate connections?
The hackathon, which was themed "10xImpact," was aimed at igniting engagement and fostering innovation within the Absa technology community. But what did this really mean? Was it a genuine attempt to push the boundaries of financial innovation or simply a publicity stunt to boost employee morale and keep them occupied for a day?
The event, which was won by the Hackernauts (South Africa and Prague), Dragons Unleashed (Botswana), and Teamo Supremo (South Africa), was met with widespread skepticism on social media, with many questioning the true purpose of the event.
Johnson Idesoh, Absa’s group chief information and technology officer, hailed the hackathon as a "display of remarkable creativity and forward-thinking," but what did he really mean? Was it a genuine attempt to encourage innovation or simply a veiled attempt to distract employees from the bank’s own failures?
As the financial industry continues to evolve at a breakneck pace, it’s time for banks like Absa to rethink their approach to innovation and employee engagement. The great banking betrayal is real, and it’s time to expose the truth behind Absa’s so-called "hackathon."
