Boost Your Bank Account By Helping People Sort Out Their Finances
If you have ideas to enhance your smartphone’s financial firepower and help others manage their personal finances the US Treasury wants to hear from you.
It has launched the mymoneyappup challenge to find ideas for the next generation of mobile financial tools to help consumers shape their financial futures.
The Treasury says the inspiration for this open innovation competition came following visits to the developing world where mobile payments have transformed financial services in some countries.
It believes that: “Mobile phones, tablets, and other devices hold significant potential to increase financial access and financial capability. Mobile devices can offer consumers faster, more convenient, and richer access to financial products, services, tools, and information—and empower consumers to make positive financial choices”.
The competition is in two parts:
1) A mouth-watering prize purse of $10,000 is on offer for the best app idea – this must be a comprehensive design proposal explained in 3-5 pages and/or with video. All proposals will be reviewed and scored by the panel of judges and the winners will be announced at an event in the Fall.
2) For lesser mortals whose coding skills are perhaps not up to those of the big boys and girls in the coding world there’s up to $1,000 on offer for great ideas. These should be tweeted to the contest’s IdeaBank in 140 characters or less. The winners will be chosen by the judges from the top ten concepts voted by the public.
If you want to take part you have until August 12, 2012 to submit your ideas.
To find out more about the contest including details of eligibility click here.
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