Open Finance
Wealth Management
Do you have a solution that addresses the wealth management needs of individuals or small businesses?
This could look like:
- Providing a single view of portfolio.
- Actionable insights around planning and managing savings goals.
- Providing options for investments and insurance.
- Efficiently tracking expenses, instalments and reminders.
If so, you are ideally suited to enter this global competition. Gamification, Crypto assets, smart mortgages, financial literacy…all welcome!
Retail Payments
Is your Open Finance solution going further than enabling payments through APIs? Does it have a real use case to enhance the customer shopping experience, whether in-store or online?
We’re looking for:
- Frictionless.
- Personalisation.
- Insights into shopping cart.
- Managing loyalty points.
- Responsible purchases.
- Managing returns, associated payments and settlement functions.
If you’re innovating in any of these areas your product could make a very compelling entry.
Lending
We’re looking for a product that uses open APIs to reimagine the traditional lending models and process.
This can be in the areas of:
- Customer credit checks and credit score.
- Assessing past income/expense patterns.
- P2P lending.
- Affordable credit products.
- Payment deferrals.
- Micro financing.
- Blockchain-based contracts and document management.
Gain an advantage
The entries shall score additional points if their product/solutions are also able to make an impact in the following areas
- Diversity: Addresses the needs of diverse consumer groups, touching on gender, ageing populations, LGBTQ+, ethnic/racial minorities, etc.
- Inclusion: Addresses the needs of financially excluded or underserved consumer groups.
- Sustainability: Enables a lower carbon footprint, is environmentally friendly, drives responsible behaviour towards climate change..
Wealth Management 
Do you have a solution that addresses the wealth management needs of individuals or small businesses?
This could look like:
- Providing a single view of portfolio.
- Actionable insights around planning and managing savings goals.
- Providing options for investments and insurance.
- Efficiently tracking expenses, instalments and reminders.
If so, you are ideally suited to enter this global competition. Gamification, Crypto assets, smart mortgages, financial literacy…all welcome!
Retail Payments
Is your Open Finance solution going further than enabling payments through APIs? Does it have a real use case to enhance the customer shopping experience, whether in-store or online?
We’re looking for:
- Frictionless.
- Personalisation.
- Insights into shopping cart.
- Managing loyalty points.
- Responsible purchases.
- Managing returns, associated payments and settlement functions.
If you’re innovating in any of these areas your product could make a very compelling entry.
Lending
We’re looking for a product that uses open APIs to reimagine the traditional lending models and process.
This can be in the areas of:
- Customer credit checks and credit score.
- Assessing past income/expense patterns.
- P2P lending.
- Affordable credit products.
- Payment deferrals.
- Micro financing.
- Blockchain-based contracts and document management.
Gain an advantage
The entries shall score additional points if their product/solutions are also able to make an impact in the following areas
- Diversity: Addresses the needs of diverse consumer groups, touching on gender, ageing populations, LGBTQ+, ethnic/racial minorities, etc.
- Inclusion: Addresses the needs of financially excluded or underserved consumer groups.
- Sustainability: Enables a lower carbon footprint, is environmentally friendly, drives responsible behaviour towards climate change..
Who can participate?
A registered company-
A clear business case and product market fit
-
At least a minimum viable product
-
Target consumer/customers
What are the rules?
-
Aligns to one of the challenge areas.
-
Makes use of at least one APIs from Railsbank, Plaid or Yolt Technology Services and
demonstrates the integrated solution.
-
By using the API, entrants should be able to articulate the additional value they are
able to offer to their customers and/or to themselves. For example: a more seamless
customer experience, one stop shops for customers, extension to product
functionality/platform, market reach and penetration.
-
Serves the UK and/or European market (it can also be a global solution).
What the judges are on the
look-out for
Business value
Scale of potential business and innovative business models.
Technology innovation
Use of innovative technology, AI/machine learning and use of APIs.
Market potential
Time to market and product readiness.
Relevance to category
Ability to solve a challenge and pain point.
Fintech for good
Impact on the financially underserved and/or the planet.
Timeline
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Awards
Best of Wealth Management
Best of Retail Payments
Best of Lending
Best of Fintech for Good
Prizes
All 12 finalists will receive USD5000 worth of AWS Activate credits
Mentorship from chosen API Participant and Sponsor spread over 6 sessions over 6 months: this includes coaching to sharpen product, build pitch deck, etc.
Sponsor introductions for winners to relevant/beneficial stakeholders.
Funding worth x.
Free pass to your choice of either SIBOS or M2020.
3 steps to get started
Get Started now
Meet the judges
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