12 December 2017
visit www.aciworldwide.com

JPMorgan Chase creates $3 million prize pot for innovation challenge

24 February 2015  |  6547 views  |  0 back of one dollar note 2

JPMorgan Chase has stumped up $3 million in prize money to entice developers to build applications that directly address consumer debt and financial well-being.

The challenge is the first in a series of initiatives from the Financial Solutions Lab, a $30 million programme established last year in tandem with the Centre for Financial Services Innovation to identify, test and expand the availability of services that increase household savings, improve credit, and build assets.

“Millions of Americans are struggling to make ends meet often juggling uneven income and unpredictable expenses,” says Jennifer Tescher, CEO of CFSI. “Through the Financial Solutions Lab we want to identify and support innovators who are working to meet consumer needs with meaningful, scalable solutions. The Lab will help build the next generation of financial products and services to improve consumer financial health.”

The Lab will accept applications from entrepreneurs and nonprofits competing to receive up to $250,000 in capital, along with national partnership opportunities, industry expertise and mentorship.

The eight shortlisted candidates will be selected by an expert, cross-sector group and announced at CFSI’s Emerge Conference on 11 June.

The closing date for applications is 7 April.
KeywordsDEVELOPER

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Mexican fintech accelerator launches; MasterCard to open East African financial inclusion lab

Mexican fintech accelerator launches; MasterCard to open East African financial inclusion lab

04 December 2014  |  7912 views  |  0 comments | 10 tweets | 1 linkedin
Mobiles, cryptocurrency and private sector to boost financial inclusion - Gates Foundation

Mobiles, cryptocurrency and private sector to boost financial inclusion - Gates Foundation

03 November 2014  |  14811 views  |  0 comments | 21 tweets | 13 linkedin
Rwanda makes cashless push in bid to increase financial inclusion

Rwanda makes cashless push in bid to increase financial inclusion

30 October 2014  |  14234 views  |  1 comments | 13 tweets | 6 linkedin
Citi looks to tech and non-profits to drive financial inclusion; Gates talks bitcoin and biometrics

Citi looks to tech and non-profits to drive financial inclusion; Gates talks bitcoin and biometrics

03 October 2014  |  11761 views  |  1 comments | 18 tweets | 4 linkedin
Amex invites applications for financial inclusion innovation lab

Amex invites applications for financial inclusion innovation lab

15 September 2014  |  9272 views  |  0 comments | 6 tweets | 4 linkedin
JPMorgan Chase establishes 'Financial Solutions Lab' to promote inclusion

JPMorgan Chase establishes 'Financial Solutions Lab' to promote inclusion

29 May 2014  |  8371 views  |  0 comments | 12 tweets | 2 linkedin
AmEx pushes tech to bank the unbanked

AmEx pushes tech to bank the unbanked

10 March 2014  |  14485 views  |  3 comments | 37 tweets | 24 linkedin

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.solutions.lexisnexis.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11781 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8682 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7071 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6813 views comments | 20 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6724 views comments | 17 tweets | 35 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job