The Financial Solutions Lab at the Center for Financial Services Innovation (CFSI) with founding partner JPMorgan Chase & Co. have launched a $3m competition for technology innovators working to address consumer financial challenges.
This cross-sector initiative will identify technology-enabled financial solutions and provide winners with direct and indirect support to test and expand the availability of their products and services to consumers.
The challenge invites innovators to submit financial product and service solutions that help households better manage their finances on a tight budget.
Until April 7, 2015, the $30m Financial Solutions Lab will accept applications from innovative entrepreneurs and nonprofit organizations competing to receive up to $250k in capital, along with national partnership opportunities, industry expertise, mentorship, and consumer and design insights necessary to power their financial services innovations. Eight teams will be selected.