CAC Bank is considered the most developed and growing bank during the past few years among the Yemeni banking sector, as well as the leading bank in providing the best banking services with modern methods, which comes as a result of its management responsiveness in developing its human staff to improve the services and products offered to its customers. Accordingly and by launching “CAC Innovation” competition, CAC Bank is seeking to encourage creative ideas for the invention of new banking products or the development of pre-existing services. The Bank also strives to adopt these innovative ideas so as to have a positive impact on the Bank, its customers and the entire community.
What is CAC Innovation?
CAC innovation is a competition for innovative banking thinking aimed at providing an appropriate and continuous environment for research and development to find innovative ways to serve the banking business in order to facilitate the public's interaction and facilitate its requirements. The participants are able to present their inspirational ideas whether by innovating new banking products or services or by developing pre-existing services. The purpose of this is to support creative minds and distinguished competencies by providing added value to the customers.
Objectives of “CAC Innovation”
- Supporting the development and innovation of banking services and products.
- Encouraging creative talents and demonstrate them to public.
- Enriching the banking industry with new financial products.
“CAC Innovation” Awards
- Honoring certificate.
- Granting the CAC Bank’s Shield.
- Competitive Award according to the evaluation and specific criteria as follows:
- Innovation for a new banking service or product: (YER 500,000).
- Developing or integrating new banking ideas with existing products or solving their problems (YER 300,000).
- Innovation to apply additional services in existing products (YER 200,000).
A list of (3) candidates will be announced every six months and the winners will be announced at a big ceremony organized by CAC Bank.
Terms and conditions required to participate in “CAC Innovation”:
The electronic form is filled carefully and wisely with ensuring the followings:
- The presentation is sequence and clarity of idea.
- The presentation includes the main elements of the product or service.
- Competitor's ability to appear by answering questions.
The “CAC Innovation” Competition includes the followings
- Forms of ideas are received every three months.
- A notice is sent to the competitor's mail notifying him with the receipt of the idea.
- The submitted forms is evaluated and the list of qualified candidates are specified for that period.
- The product is presented to the committee to evaluate the competing ideas according to the terms and conditions of the “CAC Innovation” Competition.
- The name of winners and the date of the ceremony are announced on the Bank's website.
Rules and Standards
- Compliance with the regulations, rules and instructions specified in the participation forms.
- Evaluation of participation is done through scientific standards that have been effectively and efficiently proven through the application in similar programs of creativity, which are centered in:
- Flexibility (Development ability).
- The Bank has the right and the freedom to use ideas, opinions and proposals as the bank sees fit and at its absolute discretion.
- Your submission of the idea, opinion or proposal does not give you the right to entitle or claim from the bank or the bank's commitment towards you, and is not considered as an absolute acceptance by the bank.
- Your submission of the idea, opinion or proposal expresses your personal opinion and does not in any way reflect the opinion of the Bank and the Bank shall not be responsible for it.
- If the same idea comes from more than one competitor at different times, the bank chooses the first received one to "CAC Innovation", and refuses the other ones.
- You must fill in your personal identification number in the “CAC Innovation” system and fill in all the participation requirements.