OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) today announced that it is organizing the "Fintech Challenge 2016 - Bring Your Own Bank!" Hackathon, an event for developers to focus on the possibilities of Open Bank APIs as BTMU utilizes information and communication technology to seek new ideas on the theme of making financial services closer and more convenient through ICT.

In a world that is increasingly connected by the Internet, companies are making a range of services available online through APIs. An API economy is growing and creating new value, and the trend in the financial service industry is to expand business by disclosing APIs.

Based on these environmental changes, this year BTMU held the "BTMU Fintech Challenge 2015" contest, which sought outstanding techniques and ideas in information and communication technology. Through next year's "Fintech Challenge 2016 Hackathon," the follow-on to this, we will seek to create new innovative financial services through open innovation .