American national bank TD Bank has been recruited by MIT to sponsor its first Fintech Hackathon that will be held in the month of February from 24 to 26 at Massachusetts, as reported by Finextra.
The MIT’s first-ever Fintech Hackathon is challenging students and young entrepreneurs to collaborate and create an interdisciplinary team and thus compete for the prize money of total $10K.
“In the TD Bank-sponsored hacks, participating teams will have access to data and APIs provided by TD Bank from which to demonstrate your creativity and ingenuity. Participants can tackle multiple challenges to help TD Bank transforms the way they do banking,” the website stated.
The participants can deal the challenges to help TD Bank, by revolutionizing the way the customers interact with their financial institution and innovating the way banks interact with their customers. Apart from TD Bank, MIT Fintech Hackathon has welcomed Prudential as well as Martin Trust Center for MIT Entrepreneurship.
The hack will conclude with a demonstration to the panel of eminent judges as well as mentors and the winning team will receive a $4k grand prize and the four runners-up teams will win $2k bonuses.
Last year, MIT Sloan School of Management launched Fintech Ventures as a full-semester course for Fall 2016 that featured lectures by entrepreneurs and investors from fintech industry. The course project explored various sub-industries within the fintech industry including cryptocurrencies, payments, trading, among others.
