The event, co-hosted by Sound Credit Union and the Milgard Center for Business Analytics, challenges participants to design prototypes that address pressing real-world issues facing financial institutions today. Competitors may work individually or in teams, with the specific challenge prompt revealed only at the start of the opening ceremonies.

The competition follows a two-stage structure. During the initial phase, judges will select the top three concepts, each earning a $1,000 award. Finalists then refine their projects before a panel of industry experts and business leaders evaluates them based on technical execution, scalability, and user experience. The winning team will secure a $15,000 grand prize, alongside professional mentorship, coaching, and a six-month membership to CoMotion Labs to further develop their ideas.

Jennifer Reed, Vice President of Public Relations at Sound Credit Union, noted that the inaugural event surpassed expectations regarding the creativity and dedication of the students involved. Michael Turek, Director of the Milgard Center for Business Analytics, emphasized that the hackathon serves to bridge the gap between classroom theory and practical application, providing students direct access to credit union professionals and technology experts. Registration is currently open through the official event website.