TKS and Interac: Open Banking Challenge

TKS and Interac Corp. team up on Consumer-Directed Finance (aka Open Banking) Challenge

TKS is proud to collaborate with Interac to bring unique challenges and learning experiences to the students in the program, and support the development of young innovators in Canada.

On April 8, Interac leaders joined 14 TKS students in an interactive online Challenge to generate new perspectives on Consumer-Directed Finance (CDF) solutions.

Senior leaders from Interac, Oscar Roque, VP, Strategy, Trends & Emerging Solutions, and Kashmera Self, AVP, Strategy & Emerging Solutions Delivery kicked off the Challenge with a crash course in CDF.

TKS teams alongside mentors from Interac and TWG broke out for the day to ideate and brainstorm ideas in the emerging topic of CDF. The mentors guided TKS students to develop customer use cases, refine their ideas, and develop new frameworks for solving problems. TKS student Sigil Wen said that “Working with the Interac team helped me exercise mental models and push my problem-solving horsepower. In school, rarely are we given the opportunity to work on actual problems in the world that don’t yet have an answer. Having an open-ended problem promotes next-level collaboration between the students and Interac that I think we should have more of”.

A group of Interac leaders, ranging from Legal, Risk, and Innovation, were invited to listen to and provide feedback on the students’ ideas. The end result? TKS students wowed the Interac team with their thoughtful approach and solutions ranging from improving financial literacy to a comprehensive platform connecting consumers accounts from different banks.

“Interac is continually exploring ways to future-proof our business and accelerate innovation and digital transformation,” says Oscar Roque. “Conducting this challenge with TKS provides us with a different lens grounded in exponential technologies, which enables us to further push the boundaries and potential for initiatives like CDF.”

TKS students walked away with more than just an understanding about CDF. They gained valuable insight from Oscar through his Ask Me Anything session on self-exploration and discovering your passion. And in true TKS style, our students were quick to organize a post-challenge feedback session to absorb the learnings and accelerate their growth even further.

Thank you to Interac for providing valuable learning experiences to our students through COVID-19. This initiative is part of a broader partnership to provide students with the opportunity to solve real business challenges and bring fresh perspectives from early talent to the Interac team.

About TKS

Founded in 2016, The Knowledge Society (TKS) is a 10-month accelerator program for curious and ambitious teens between the ages of 13-17. Through project-based learning and real-world skill-building, TKS trains young people to solve the world’s biggest problems using emerging technologies. TKS has trained more than 500 students across North America in areas such as artificial intelligence, regenerative medicine, and quantum computing, among others.

TKS was recently named a School of the Future by the World Economic Forum.

Want to partner with us to revolutionize your business AND do good? TKS works with leading companies like Interac to invest in early talent and drive innovation in their organizations. Partners help fund our Bursary program to provide financial support to students from underserved communities.

Click here to contact our Partnership teams and discuss how we can help innovate your business practice.