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May 12, 2023

Statewide Competition: Sound Credit Union and UW Tacoma’s Milgard Center for Business Analytics are Looking for the Next Big FinTech Idea

Winner to receive $10,000 prize and membership to UW’s CoMotion Labs incubator

TACOMA, WA Following the launch of the UW FinTech Pitch Competition, Sound Credit Union (Sound) and UW Tacoma’s (UWT) Milgard Center for Business Analytics have begun accepting applications for the third annual statewide FinTech Incubator Challenge. The Challenge is open to anyone who lives, works, or goes to school in Washington — to apply, applicants submit an idea for a fintech (financial technology) product that will help people make better financial decisions and make everyday life more affordable. The winner of the Challenge will receive $10,000, the opportunity to participate in UW CoMotion Labs incubator cohort, and access to collaborate with executives at Sound and other community partners.

As a financial institution, our team at Sound is researching the latest FinTech tools and resources that will benefit our members,” said Don Clark Jr., Sound’s President and CEO. “Sound and UWT believe in the talented and creative entrepreneurs here in Washington. We hope together we can connect with entrepreneurs and bring their ideas to life.

Over the past several years, FinTech tools have become more popular with consumers. “Financial Technology tools, along with AI and Machine Learning, are making it easier for consumers to manage their finances and engage in financial decision making with greater confidence,” said Michael Turek, Assistant Teaching Professor of Business Analytics and Associate Director of the Milgard Center for Business Analytics at UWT. Washington State is known for its technology innovation. The FinTech Incubator Challenge provides entrepreneurs in the state with the opportunity to share their idea and collaborate with industry experts to bring that idea to fruition and, in the end, help consumers manage their finances with confidence.

Applicants can submit their application and pitch deck to the Sound Credit Union FinTech Incubator Challenge until June 5. A select group of finalists will be invited to present their ideas to a panel of industry experts on June 14, and the winner will be announced on June 16.

About Sound Credit Union

Sound Credit Union was founded in 1940 and today is one of Washington State’s largest credit unions. With 26 full-service branch locations throughout the Puget Sound area, Sound provides their over 165,000 members with authentic and trusted financial support and services. Sound is driven by the purpose of standing with members, employees and the community through all waves of life.

About University of Washington Tacoma

The University of Washington Tacoma (UWT) is an urban-serving university providing access to students in a way that transforms families and communities. The university impacts and informs economic development through community-engaged students and faculty. UWT conducts research that is of direct use to our community and region. And, most importantly, UWT seeks to be connected to our community’s needs and aspirations.