In the incubation programme, the bank will spend different amounts of venture capital on the individual projects, MKB Bank told MTI.

The aim is to develop the winning ideas into applications suitable for customers and, from the point of view of the owners of the ideas, to develop them into marketable or exportable products. Márk Hetényi, the bank’s deputy CEO, said they decided to support further ideas later on, in a second phase, as the quality of the ideas submitted had exceeded expectations.

The eight winning projects include personal financial management, robotic investment advisor, fraud detection, credit for online purchases, crowdfunding and big data-based customer profiling solutions.

Republished with permission of Hungary Matters, MTI’s daily newsletter.