The National Bank of Bahrain has tied up with Bahrain FinTech Bay to launch challenge youngsters in the country to make youth focused banking solutions.
As per the official page of the Digital Banking Challenge on BFB, the goal is to develop solutions for NBB’s digital banking app that “focuses on the youth and features the latest trends to enhance user experience.”
Any Bahraini student, whether a citizen or resident, is eligible to apply, provided they are between the ages of 18 and 24.
The applicants may enter the challenge as individuals or in teams, with applications, which are open now, closing on September 20.
BFB said the challenge would be divided into two phases: bootcamp and digital incubation.
At the bootcamp, which is the first phase, participants who applied as individuals would be put in teams.
They will be matched into teams according to their skillsets to develop the solutions during the digital incubation period, said BDB.
Through the boot camp on September 24 and 25, participants would attend panel discussions with NBB’s key teams, giving them insights on NBB.
Following the bootcamp, teams would be expected to submit a short video talking about themselves and their proposed solutions.
The NBB and BFB teams would then make a selection based on the most innovative ideas. This is expected to happen over five days, beginning October 3.
The teams will then go through a six-week digital incubation — from October 10 to November 18 — to further develop these solutions into idea-stage startups.
This phase will consist of three tracks: the startup track, the NBB track, and the mentorship track.
The program is expected to conclude on Demo Day on November 28 that will award the three best solutions with prize money, three months of incubation at BFB, and other prizes that are yet to be announced.