Tacoma-based Sound Credit Union and the University of Washington Tacoma have launched their annual financial technology pitch competition.
Applications opened earlier this month and are being accepted until April 17. The winning team receives a $1,000 prize.
"We want to offer our members the latest fintech tools and resources that they can use to manage their finances,” Don Clark Jr., Sound Credit Union president and CEO, said in a release. “Our partnership with UWT on this project provides a great opportunity to connect with UW students and discover new fintech ideas that will benefit those we serve.”
All UW students are eligible for the competition. A committee will select the finalists, and the finalists will present to entrepreneur and industry expert judges on April 27. The winner will be announced April 28. The competition website notes areas of interest include lending tools, digital banking, cybersecurity and payments.
All finalists get feedback and mentorship to prepare for Sound Credit Union's statewide fintech pitch competition, called the Sound Credit Union FinTech Incubator Challenge. Applications for that competition are due May 15, with the committee selecting finalists on June 2. Finalists will present June 18, and the winner will be announced June 22.
Anyone who lives, works or attends school in Washington can apply for the statewide competition. The winner gets $10,000, a six-month membership at UW's CoMotion Labs and the ability to work with Sound Credit Union "to develop and refine your fintech innovation through real industry insights and proof-of-concept projects."
“UW students demonstrate an amazing passion and dedication towards innovation that impacts organizations and communities,” Michael Turek, associate director of the Milgard Center for Business Analytics at UW Tacoma, said in a release. “The Sound Credit Union UW FinTech Pitch Competition provides an excellent opportunity for UW students to achieve this."
Sound Credit Union, founded in 1940, offers services like checking accounts, savings and mortgages. According to the credit union, it has 26 branches in the Puget Sound region and more than 165,000 members.
