The Scotiabank Change-Maker Challenge reached its exciting conclusion last week, as Sharene Gaitor of The Bahamas was named the Scotiabank Change-Maker Challenge Champion and awarded the US$10,000 ($700,000) grand prize.

"The professional quality and innovative insight displayed by Ms. Gaitor, in both her presentation and her submission, was very impressive," said Wayne Powell, executive vice-president of retail management, Scotiabank Jamaica.

"All three of today's finalists presented well-thought-out ideas that highlight the talent and creativity coming from the future business leaders of the Caribbean region. I would like to congratu-late them all," he said.

Vision sharing

The Scotiabank Change-Maker Challenge, which was launched last October, asked students and young adults from Jamaica, Trinidad and Tobago, Barbados, and The Bahamas to share their vision of banking innovation.

Scotiabank received more than 450 submissions and drew on the expertise of a panel of judges, made up of business and academic leaders from across the Caribbean, to narrow the submissions down to the top three. These Change-Makers were flown to Jamaica, where they presented their ideas to the judging panel at the Jamaica Pegasus hotel in Kingston.

Ms. Gaitor's winning presentation proposed a multi-phase mortgage programme that was tailored to different customers needs at different stages of their lives.

"I did quite a lot of research coming up with this idea, talking to various people in the industry as well as people looking to buy their first home," said Ms. Gaitor. "I really think there is a demand for the type of product I proposed today."

Management tool

Earl Rennie, from Trinidad and Tobago, was awarded the $5,000 second prize for his proposal of an interactive customer management tool that individuals could use on their computer desktop.

Latoya Campbell of Jamaica was awarded the $3,000 third prize for her proposal of an electronic security signature that would allow customers to access bank services through their mobile phones.

The Scotiabank Change-Maker Challenge was developed to reflect the importance the bank places on its young customers and their ideas. Scotiabank says it is committed to helping young adults achieve their dreams by becoming financially better off.