The past two years Core Innovation Capital has issued a national challenge for who makes the most innovative product or service serving the emerging middle class, aka the un- and underbanked, the cash-preferred, the credit underserved.

This year, we’re improving and expanding.  It’s not just a Challenge; it’s a Mega Challenge.  Instead of four finalists, we’ll pick 10-12.  Instead of the last day, we’ll feature finalists on the first day of the Underbanked Forum.  Instead of one hour, this Mega Challenge will last three hours, in front of the largest group of industry experts ever assembled.

At stake are fun, fame and fortune.  A live demo before 800+ executives is pretty exciting for even the most seasoned entrepreneur.  National recognition for being the most innovative product for the underbanked in 2013, as determined in real-time by senior leaders in retail, banking, payments, alternative finance, regulation and consumer advocates.  And $10,000.

Nominate your company, whether large or small. We’ve had finalists as large as FIS, or as small as the one-man Juntos Finanzas, who won by a land-slide).

The Challenge has introduced mobile check cashing for the underbanked, payroll-based short-term loans, social media-based underwriting, better sub-prime auto lending, SMS-based financial planning, and micro-investments.

We’re eager to see what financial innovation is being cooked up in 2013.  We’ve seen some glimpses and it’s pretty exciting!

So if you’re working on something great that serves the emerging middle class, whether in payments, in credit, in planning or saving – and if you’re able to show a live demo by June, nominate your product or service.  It’s free, will take 5 minutes and could offer unprecedented exposure.