National Bank of Canada launches Innovation Competition
The National Bank of Canada is launching an initiative that it hopes will bring together start-ups, students and developers from across the country.
Called the Innovation Competition, participants will be charged with creating solutions to help individuals save and manage their money more efficiently.
Created in partnership with Flinks and OSMO, the competition will take place over a six-month period. Participants will get the opportunity to pitch their business and technology solutions to a panel of National Bank executives.
Teams involved have the opportunity to win a CAD 100,000 ($76,020) prize. Applications will be open until 20 December 2019, with the final taking place at the end of April 2020.
“National Bank has been working closely with top fintechs for many years now. They play a key role in enhancing the quality of our service offer and in promoting entrepreneurship and technology in society at large,” says Louis Vachon, president and chief executive officer at National Bank.
“I’d like to invite startups, students, innovators, and teams of individuals to take up this innovation challenge with us.”
The National Bank of Canada is the sixth-largest commercial bank in the country, and the largest bank in the province of Quebec.
The bank came under fire this month for requesting that new customers provide the log-in details of the accounts they hold with other financial institutions, including passwords.