As the driving force behind new innovations, ‘people’ plays a pivotal role in shaping the future.
Ngern Tidlor recognizing the significance of sharpening talent, continuously invests in and prioritizes the development of individuals. As Bernard Tso, Head of Marketing and Business Development and Information Technology at Ngern Tid Lor Public Company Limited, states, "Many people often ask how Ngern Tidlor can rapidly create groundbreaking innovations for the best customer experience. What's the secret? I want to say that it’s not solely due to the leadership of a forward-thinking MD, nor our diverse set of experienced executives. Rather, it is because of the 'NTLers' who dare to think, dare to try, are ready to learn new things, and are ready to pass on this mindset to the next generations." This is why TIDLOR Hackathon, is part of fostered a culture of innovation and cultivate the next generation of innovators within the company.
Why Hackathon?
A Hackathon is a process used by leading tech organizations to generate fresh ideas and develop ‘innovative solutions’. Ngern Tidlor has introduced this process to the Thai Non-Bank sector for the first time, with consultation from RISE Thailand, an expert organization in this field, to collaboratively design a Hackathon suitable for Ngern Tidlor. The theme is 'Happily Do More with Less' – empowering NTLers to work smarter and happier, and enhancing customers' quality of life. This is achieved through our auto title loan and insurance products and services, which resulted from developing innovations and finding ways to enhance the customer experience further. The TIDLOR Hackathon’s goal wasn’t to find a ‘winner’. Rather, the event was a valuable learning opportunity for all participants, where they can gain hands-on experience, learn from trial and error, and receive advice from experts in Digital Transformation, IT, and Start-up Development through the idea pitching process.
With the stage of pitching, every competing team got to dig into all their skills, whether it’s Design Thinking (an out-of-the-box problem-solving process) or Lean Process (a solution to increase work efficiency by reducing complexity), which NTLers have developed through continuous company-provided courses.
Furthermore, the TIDLOR Hackathon exemplified Ngern Tidlor’s Smart Execution: Do More with Less, a direction of the company’s operations, particularly in 2023.
The TIDLOR Hackathon also provided an excellent opportunity for NTLers, both those competing and those cheering on, to learn and sharpen their thinking by engaging with experienced experts. Esteemed judges such as Sompoat Chansomboon, CEO of KT Venture Capital, Associate Professor Dr. Wannapha Siriwatwetchakul, Head of University, Rise Thailand, as well as Ngern Tidlor executives such as Bernard Tso, Head of Marketing and Business Development, Thitided Srimarayat, Senior Vice President of Marketing and Business Development, and Pakamon Tulyapizitchai, Senior Vice President of Digital Transformation collaboratively offered advice to participants and made decisions. These experts also guided each team’s with some tips and invaluable insights throughout the competition, and helped them refine their ideas as they progress to the Final Pitching round.
The Path of Building an Innovator
After receiving 149 applicants to participate in the ‘TIDLOR Hackathon’, the company organized an Open House and Team Matching Day activities that enabled participants an opportunity to connect with one another, exchange ideas, and forming teams with those who share goals and chemistry. As a result, 30 teams were formed, each comprising of individuals who are passionate about the same shared goal and making a positive impact through their innovative ideas.
Thanakorn Jantarungsri, from Insurance Broker Department, a member of the LeadWise team, described the team formation process as follows:
“Our principles for team formation was simple. Firstly, our members should have similar pain points. Secondly, our members should come from various departments which enabled us to complement each other and exchange knowledge within the team. And, we needed at least one IT team member to bridge the gap between the IT and Business. This ensured our ideas were not too far-fetched and grounded in reality, and helped us to maintain a common goal throughout.”
And Yuttasin Liupanjarat, from Management Information System Department, a member of the AVA team, said:
“Some of us knew each other from previous project collaborations. We thought that if our team was diverse, comprising Marketing, IT, Finance, and Risk, it would help us see problems from various perspectives.”
Following that, there was a Pre-Hackathon Workshop, allowing each team to get to know real customer or user insights to create solutions for their target group and learn the process of 'idea validation' through the creation of a prototype to determine if there was really a demand or market desire for their ideas, as well as to evaluate whether the project could effectively solve the problems. The workshop was facilitated by the esteemed mentor, Sawayos Danbunpot, who graciously provided guidance on business planning and idea generation, along with pitching techniques for the Hackers.
After the first round of pitching, the committee had to shortlist 15 teams to enter the final round and select only 3 teams to win awards. This was a challenging task for all the committee members, as every team presented ideas that addressed real customer pain points or organizational problems based on their understanding, and the ideas also had the potential for business expansion in line with Ngern Tidlor's direction.
Smart Execution Ideas Revealed
After careful consideration, the TIDLOR Hackathon announced 'LeadWise' as the winner for their innovative idea to develop a system that automated manual processes and enhances work efficiency, with the goal of generating revenue for the Company through the creation of a Lead and Data Management Platform designed to manage various Leads and Data internally.
Equally impressive was the first runner-up, 'AVA', whose idea involved the development of a new feature for the NTL mobile application that would enable customers to quickly and conveniently access credit requests and receive results within 5 minutes. This innovative concept aimed at expanding the customer base and increasing profits for Ngern Tidlor.
The second runner-up was 'INS-SEE', the team that came up with the idea of developing an application that uses AI to assist in assessing photos of a car from all four angles. This not only reduced the hours and number of people working in the insurance policy approval process, but it also improved customer experience as they would get approval results faster without having to wait long.
The 3 winning teams had incredibly close scores. The rest, despite not winning a prize, showcased their impressive talent and creativity, as each idea was fueled by passion and a deep understanding of the customer's pain points, in the eyes of the judges.
Several noteworthy ideas emerged from the Hackathon, including Team BEYOND ‘s proposal for a system to expedite customer refunds and a guideline to expand business by allowing customers to use the excess money to purchase TIDLOR's products without spending their own cash.
Team SMART FUN FIN’s idea to develop a financial education feature on the NTL App to educate customers on financial matters and guide them on spending, not only reinforced Ngern Tidlor's commitment to improving the quality of life for Thai people but also had the potential to reduce NPL and lead to new business opportunities. 'Team Charlie' suggested using notifications on the NTL App to help cultivate customers’ saving habits and reward them when they achieve their goals.
In addition, Team Position Won't Last Long, But Legend Will Forever came up with the idea to develop a platform that compared health packages from different hospitals. Team Cat Thief proposed an application to report various maintenance works, including branch repairs and company vehicle repairs, to streamline the back-end process, expedited repair approvals, and also helped gather data about skillful technicians in different areas.
There were numerous other ideas, each demonstrating the potential of TIDLOR Hackers!
After the competition, the judges encouraged all teams to continue developing their ideas and to keep their passion and creative thinking alive. As Somphoat, one of the TIDLOR Hackathon judges, emphasized, "Never stop dreaming and remember the enthusiasm and discussion you demonstrated today. This should be passed on to our team and to the next generations. Having great passion and a problem-solving mindset are the keys to becoming a 'Hackathon Organization' and crucial for cultivating organizational innovation."
Experience is more precious than an award
While only one team earned the coveted prize of a Tech Trip abroad, every team gained something far more valuable than a mere award. The experience and learning process obtained from hands-on participation, as well as the chance to gain new perspectives from expert judges, were invaluable. The competition also provided an opportunity for forging new friendships, both within teams and among competitors, both within teams and among competitors, that will last beyond the Hackathon.
Here are some reflections from the Hackers who participated in this journey:
“The most valuable experience was being able to explore imagination without barriers with team members, hearing new ideas, and getting fired up to get back to work.” - Wallaya Lakhumlek, from Credit Department, Team AVA.
“I got to understand how to prioritize ideas within a short period of time. I learned about trust and respect among team members.” - Nualchan Boonrakchart, from the Insurance Broker Department, Team INS-SEE.
“I was impressed by the real-work experience, from the process of selecting the Concept and Solution to be presented at the pitching event. Our team's scope of work was rather broad, which made the details quite extensive and perhaps challenging to present within the given time. But we made it through because our mentor guided and advised us, which helped us get to the point as much as possible.” - Worapol Thipmaneemongkol, from the Marketing and Business Development Department, Team LeadWise.
While Bernard Tso, one of the executives from Ngern Tidlor who was part of the judging panel, said,
“Before the event, I intended to share my experiences and teach everyone. But after the event, I found that I learned many things. The Hackathon opened my eyes to many perspectives that executives might overlook or not see. Thanks to everyone who helped us learn. I encourage all teams to continue to develop their ideas because innovation doesn't have to be something grandiose. What's necessary is that we must never stop learning, we must try new things, and we must always strive to improve what we have. I believe that everyone who participated in the Hackathon already has this mindset. But this alone may not be enough. We need to pass on this mindset, and if nearly 7,000 NTLers think the same way, we will be an innovative company that never stops evolving. Even though this TIDLOR Hackathon has ended, our mission will stay with us for life.”
This story should help unlock curiosity when seeing the innovations that fuel Ngern Tidlor’s ongoing progress from the perspective that 'nurturing people is to fostering organizational growth'.