The Bank of Maldives (BML) has begun the Innovation Lab Hackathon. The event is taking place at Hotel Jen with more than 30 participants.
The hackathon is being conducted under the theme Banking Solutions to Enhance Customer Experience. BML said the 48-hour hackathon is open to registered individuals and teams to submit innovative ideas and solutions in the field of fintech. The hackathon will select three teams that will have six months to work in the BML Innovation Lab to successfully complete their proposals. The solutions proposed by the selected teams will be purchased at an agreed price with the bank.
BML said it will fulfill the requirements including a furnished private working space to use as an office, a monthly allowance of USD1,293 for each team, a long-term maintenance contract of the developed solution, and mentorship throughout the programme.
The winners of the hackathon will be selected on October 16