Bank of England (BoE) announced earlier this week the launch of its new student fintech competition. The bank revealed that as a central bank of the UK it is now working to promote “the good of the people of the UK” by maintaining monetary and financial stability. It was revealed;
“Today financial technology (fintech) and regulatory technology (regtech) are revolutionising the way companies provide services – and how customers use them. You may not have heard of open banking, APIs or PSD2. But these innovations are changing the world of finance. This year, our competition will focus on using financial technology to improve people’s lives.”
BoE revealed that the winner of the challenge will receive a four to six week paid summer internship at the Bank in London and before they start, they will get an exclusive invitation to visit the Bank and meet with some of its technology team. The competition’s rules are the following:
- Enter on your own or as a team of up to six people
- You must be 16+ and a student at a school, college or university to enter
- The competition is aimed at students in the UK but we’ll consider entries from overseas
- Entries must be in English
- We must be able to open your entry on a standard Windows-build laptop
- Be creative with your entries, but to give you a size guide, a 750 word written response, a 10 slide presentation or a 2-minute video.
BoE added it plans to share the exact details about the competition on November 12th and then those who are interested will have just two weeks to create and send their solutions.