Alpha Bank opens innovation challenge to European startups

Alpha Bank has kept applications open until September 20 for its FinQuest 2026 innovation competition, inviting startups, fintech companies and scale-ups from across Europe to submit solutions aimed at transforming the banking sector.

This year’s competition has been given a stronger European focus, with the bank issuing an open invitation to startups operating in different markets across the continent to develop innovative solutions addressing key challenges facing the financial services industry.

Artificial intelligence is at the heart of the FinQuest 2026 competition, with applicants invited to submit proposals in one of four thematic areas.

The first category, AI First Banking & Value Transformation, focuses on solutions that use artificial intelligence, automation and advanced analytics to transform banking operations, improve productivity, enhance decision-making and create measurable business value.

The second category, Fraud Zero & Digital Trust, seeks technologies that strengthen fraud prevention, cyber security, digital identity and trust across the digital banking ecosystem while also delivering a seamless customer experience.

The Next Generation Customer Experience category is aimed at proposals that redefine customer experience through personalised, simple and integrated services across both physical and digital channels, making use of technologies including conversational AI, hyper-personalisation and digital onboarding.

The fourth category, Open Innovation & Emerging Technologies, targets innovative technologies capable of opening new opportunities for the financial sector, creating new sources of value and accelerating the next wave of banking innovation.

The team selected as the overall winner will have the opportunity to develop a pilot project with Alpha Bank, working closely with the bank’s business and technology teams to assess its solution in a real banking environment.

In addition, the winning team will gain access to the bank’s key business stakeholders and have the opportunity to explore a broader commercial partnership with Alpha Bank.

The winner will also receive a cash prize of €15,000 to support the further development of its solution.

Once applications close, a specialist evaluation committee will review all submissions and select the six strongest proposals to advance to the next stage of the competition.

The shortlisted teams will participate in a two-month accelerator programme running throughout October and November 2026, featuring mentoring, workshops, networking opportunities and ongoing support.

The finalists will then present their solutions during a dedicated innovation event, where the judging panel will select the three winning teams.

Alpha Bank said the benefits of participating extend beyond the overall winner.

The bank explained that finalist teams will gain direct access to Alpha Bank executives actively seeking innovative technologies and, regardless of their final ranking, may be selected for pilot projects or invited to explore future commercial partnerships.

According to the bank, the programme provides participating teams with an opportunity to engage directly with one of the largest banking groups in Southeast Europe, offering access to business stakeholders and decision-makers within Alpha Bank.

The participating teams will also receive specialist feedback from experienced bank executives, expand their professional networks within the banking and fintech ecosystem, and work on real business needs and contemporary use cases.