Bank of Maldives (BML) kicks off its Innovation Lab Hackathon 2022 on Friday.

A total of 30 participants joined the Hackathon.

The 48-hour Hackathon is being hosted at Hotel Jen, focusing on "Developing Banking Solutions to Enhance Customer Experience." The registered individuals and teams will create cutting-edge fintech concepts and solutions to improve operational excellence and customer experience.

According to BML, three winning teams will be chosen, and they will spend six months refining their winning concepts at the bank's Innovation Lab. Additionally, they mentioned that the winner would be presented with a mutual agreement on the solution's pricing. 

Winners will receive: 

* A furnished private working space to use as an office.

* Monthly allowance of MVR 20,000 for each team.

* Long-term maintenance contract of the developed solution.

* Mentorship throughout the program.

Bank of Maldives stated that the winner of the Innovation Lab Hackathon 2022 will be announced on Sunday.