CHUGOKU BANK announced that the Bank and 5 other regional banks and T&I Innovation Center will jointly hold a FinTech contest, named TSUBASA Alliance Finovation Challenge to generate new FinTech services. CHUGOKU BANK is one of regional banks in Japan and its head office is located in Okayama Prefecture situated approximately 700 kilometers west of Tokyo.T&I Innovation Center was jointly established by 6 banks (CHIBA BANK, DAISHI BANK, IYO BANK, TOHO BANK and CHUGOKU BANK ) and IBM Japan in July 2016. IBM Japan and Tohmatsu Venture Support name as sponsors of the contest.
The 6 banks become the first regional banks that hold Hackathon in Japan. The applicants get through the Ideathon will develop their application during the Hackathon with development environment provided by the bank.
The event will start to accept applications from the contestants from December 2016 to January 2017. The Hackathon where they develop prototypes will be held from late February to late March 2017. The final presentation will take place in April 2017.
The recipient of the Grand Prix will get 1 million JPY and the second winner will receive 500,000 JPY.
(Source: CHUGOKU BANK )