Your smartphone is capable of serving more roles than ever: navigator, research tool, newspaper… even financial adviser? Absolutely: with several money management apps already available, the Treasury Department’s MyMoneyAppUp Challenge is looking to both programmers and the public at large for new, innovative ideas that can bring more financial services to our fingertips.
The MyMoneyAppUp Challenge, just launched on June 27th, is broken up into two parts.
- The IdeaBank Challenge is open to the public and seeks creative ideas for apps to help Americans make smart financial decisions. Submissions require just a brief app description of 140 characters or less, and the IdeaBank Challenge winner will receive a $1,000 cash prize.
- Developers can also submit detailed application designs to the App Design Challenge. Submissions are being accepted from both individuals and teams, and must include a 3-5 page description and video or pictures. Finalists of the App Design Challenge will be invited to pitch their ideas at a special event Washington D.C. and stand to win prizes of $2,500 to $10,000.
What kind of app do you think would be helpful for managing money? The deadline for submissions is August 12th.