Who can participate?
Participation to “FinQuest by Alpha Bank” is open to individuals (participating individually or in groups of up to five people), start-ups and companies, offering reasonably mature solutions (a working prototype should exist).
How can I participate?
By filling in the application for participation form, here.
When will the submission of applications for participation start and what is the deadline for applying?
The period for the submission of applications starts on Tuesday, August 25, 2020 and ends on Friday, September 25, 2020.
What are the topics of interest for the current Quest?
- Customer onboarding and engagement
- Predictive analytics
- Identity management
- New digital products
- Personalisation and unique context-driven solutions
- “Phygital” banking
Why should I participate?
“FinQuest by Alpha Bank” aims to identify solutions that Alpha Bank can leverage to further promote digital innovation, expand its digital offering and improve its Customers’ experience. As such, there is a strong likelihood that one or more of the solutions will be implemented by the Bank.
Furthermore, through the accelerator phase featured as part of the Competition, participants will have access to knowledge and guidance offered by top innovation specialists. We consider the opportunity to be extremely valuable for participants, as it will support them in further developing their solution and turning it into a more comprehensive and attractive business proposition.
Finally, the finalists of the competition will also benefit from the visibility gained with executives from both Alpha Bank’s management but also from other key stakeholders of the Startup/Fintech ecosystem.
Are there any restrictions regarding the technologies I can apply?
No – there are no restrictions at all.
I have more than one good proposals. Can I submit them all?
No, you will have to choose the one you consider to be the best / more tailored to Alpha Bank’s needs. There will be more opportunities in the future for your other ideas!
How will I know if my proposal has been successfully submitted?
Once you complete the submission of your proposal, you will receive a confirmation e-mail as evidence of successful submission.
What about the intellectual property rights to the solution that I will present?
The intellectual property of the solution/application to be developed for the purposes of the Competition and presented for evaluation belongs to the participant(s).
How many stages are there in the Competition and what does each stage involve?
The first stage is the period of submission of applications for participation, from which the best submissions will be selected. In the next stage, these teams will join a 5-week accelerator programme, during which they will receive coaching and mentoring. The purpose of this stage is for the teams to further develop their ideas, so that they reach a stage of maturity that could enhance their readiness level and increase their likelihood for implementation by the Bank. The final stage will be the Pitch Event (date TBD) where the teams will have the opportunity to present their proposals to the Judging Committee that will select the three best ones.
Who will be the mentors to support the participants?
The team of mentors will consist of highly specialised and experienced executives from Alpha Bank and its Partners in the Competition. We are confident that they will fully meet the participants’ needs in terms of offering the best possible support so that they can further develop and fine-tune their proposals.
Who are the members of the Judging Committee?
The Judging Committee will be composed of senior executives from Alpha Bank, as well as innovation, technology and business development experts from the academic community and the private sector.
What are the selection criteria in order for my proposal to qualify?
The members of the Judging Committee will assess the participants’ applications according to the following criteria:
i. The degree to which the solution addresses a real need of the financial sector and/or would appeal to a substantial number of customers
ii. The level of innovation presented with the solution
iii. The solution’s applicability and feasibility for practical implementation in the current context (for example from a regulatory, legal, technical perspective)
How will I know if my proposal has qualified?
You will be notified by email and by phone.
When and where will the event for the presentation of ideas that have qualified take place?
The event will take place in Athens. The exact venue and date will be announced in due time.
Will there be prizes for the winners?
Yes. The winners of the Competition’s final stage will receive the following prizes: 1st winner: € 5,000, 2nd winner: € 3,000, 3rd winner: € 2,000
Is there a provision for covering the expenses of participants who will need to travel?
Cost for preparation, travel, accommodation as well as any other costs incurred by the participants in connection with their participation to “FinQuest by Alpha Bank” shall be borne by the participants themselves.
Is there someone I can contact if I have any questions about the Competition?
You can contact the “FinQuest by Alpha Bank” team using the contact form.