Maryland Procurement Portal #BPM059715

Maryland grant opportunity for bank–fintech financial services pilots

Maryland is seeking grant proposals for bank–fintech partnerships that pilot services for underserved businesses. - Government buyer: Maryland Department of Labor, on behalf of the Maryland Community Investment Venture Fund. - Eligible collaborators: Maryland state-chartered banks and credit unions partnering with financial technology innovation companies (fintechs). No individual vendors, OEMs, or brands are named. - Purpose: Develop and pilot products, services, technologies, or processes that improve access to financial services for businesses in low- to moderate-income communities. - Requested items: No specific products, part numbers, or quantities are listed. The opportunity supports collaborative pilot projects rather than a defined product purchase. - Performance period: Generally two years from award, with possible extension subject to the Commissioner and a maximum program end limit. - Notable requirement: Proposals must involve a formal collaboration between an eligible financial institution and a fintech company.

Description

The Maryland Community Investment Venture Fund is soliciting grant proposals to support collaborations between Maryland state-chartered banks and credit unions and financial technology companies. The collaborations are intended to pilot innovative technologies and processes that improve access to financial services for businesses in Maryland’s low- to moderate-income communities. The grant period is two years from award, unless extended, and may not extend beyond December 31, 2028. Questions are due by February 16, 2027, and proposals are due by February 28, 2027.

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