FinQuest by Alpha Bank 2020: The journey of innovation continues

This year, Alpha Bank is once again launching an open invitation for participations in the international digital innovation competition FinQuest by Alpha Bank, to highlight the digital future of the financial sector, in the light of technologies that are already changing the way in which banks operate, posing significant challenges and presenting new opportunities.

FinQuest by Alpha Bank 2020, which will run for a total of 4 months and will take place in three stages, will look for the most innovative ideas and proposals for the financial services of the digital era, taking advantage of the latest potential provided by technology. The competition will present a real challenge in the financial services sector, to be tackled by individuals who will work in teams and will combine a wide range of skills and experiences, a combination that is considered particularly important for the successful operation of the new “ecosystem” of Fintech companies.

In the first stage of the competition, which starts in July, all interested parties, provided they over the age of 18, can apply to participate, by submitting their solution / software application to the FinQuest website. Individual entries will also be accepted; however, the competition encourages the participation of teams.

In the second stage of FinQuest by Alpha Bank, which will begin in September, the best teams to emerge from the competition’s first stage will receive five weeks of mentoring from experienced Bank executives and technology experts, to further develop their ideas and make them applicable by the Bank itself.

In the third stage, which will start with a special event in November, the teams will present their final proposals to the Evaluation Committee, which will be composed of representatives from major academic institutions, Alpha Bank executives, executives from investment and advisory firms, and prominent start-up and fintech professionals. The members of the Committee will evaluate the ideas and will award prizes to the top three, at a major event open to the public, whose guests will include key organizations and representatives of the academic, business and technology communities.

As was the case last year, the challenge of this year’s FinQuest by Alpha Bank is to create a new digital banking experience, using the innovative tools offered by digital technology, to create new, personalized services that focus on the Customers and respond directly and effectively to their evolving needs, in line with the priorities of Alpha Bank’s Digital Transformation strategy.