Bank of Maldives (BML) has kicked off its Innovation Lab Hackathon on Friday, October 14, 2022.
The hackathon kicked off at Jen Maldives Male' by Shangri-La with over 30 participants.
The tech-centric event is held under the theme of developing "Banking Solutions to Enhance Customer Experience." Individuals and teams registered for the 48-hour hackathon, will develop innovative fintech ideas and solutions to enhance customer experience and operational excellence.
Three winning teams will be elected to go into BML's Innovation Lab to develop their winning ideas, over a period of six months.
Both BML and the winners will mutually agree for the cost of the solution, with the bank providing;
- A furnished private working space to use as an office
- Monthly allowance of MVR 20,000 for each team
- Long-term maintenance contract of the developed solution
Announcing the Hackathon earlier, the bank's in-charge and acting MD Aishath Noordeen said, "We continue to see interest from developers and the fintech community to revolutionize the banking industry using modern technology."
"Through this Hackathon, we aim to support the brightest and most creative of the local tech community to tackle challenges and deliver banking solutions to provide our customers a better experience," she added.
The winners of the Hackathon will be announced on October 16, 2022.