As part of a two day challenge, more than 65 NAB and Telstra graduate employees aged 18-34 have come together to uncover new ideas that help build financial resilience.

Held at NAB’s Melbourne headquarters in April, the participants were empowered to create their own technology solutions that they think would help them make financially sound decisions.

NAB Executive General Manager NAB Labs Jonathan Davey said the graduates are thinking creatively and designing concepts for a financial management tool that other Millennials could use to build strong financial foundations.

“Millennials have deep insights into what they want and how they want to use technology in their digitally-driven lives, and as leading financial and technology institutions we’re committed to listening to our customers and better understanding their behaviours and desires,” Mr Davey said.

“This challenge is an example of how we’re putting the power into their hands and giving them the tools they need to help us find solutions to the way they save and spend their money.”

Telstra Financial Services Industry Executive and author of ‘Millennials, Mobiles and Money’, Rocky Scopelliti, Financial Services Industry Executive, Telstra said the financial services industry is ripe for Millennial disruption.

“We believe that working collaboratively with our graduates is a step towards empowering the participants to create their own digital financial management tool to develop good financial habits for now and in the future,” Mr Scopelliti said.

“While Millennials face financial challenges unlike previous generations, they also have access to digital tools and technology that has the potential to redefine how they manage their money.

“This event is designed to help empower Millennials to unleash their entrepreneurial and creative skills to create better ways to manage finances with technology,” Mr Scopelliti said.

The challenge is an extension of NAB and Telstra’s decade long technology partnership and will utilise Telstra Ventures companies including Kony, Whispir, Box, Docusign, Telesign, Near and Zimperium to bring participants ideas to life.