Open banking: Business beyond regulation

A busy newsletter this month. Read through to see what we are up.

Open banking: Business beyond regulation

It’s that time again! We are co-organising the API Days London, the premiere conference dedicated to Open Banking and APIs in the financial services industry. This year we explore Open Banking Beyond Compliance, with a multitude of perspectives coming from Europe, the US, the Middle East, Asia and New Zealand. API Days takes place on Nov 13th-14th in London.

We are expecting over 400 execs from leading banks and prominent fintech actors, and we invite you to join them. Click here to register, and obtain a 30% discount by using the promo code “OBP2019”.

Souvenirs from SIBOS 2019

Last month the Open Bank Project participated as an exhibitor at Sibos, the world’s largest financial service event. We are super grateful to everyone who visited our booth in London. It was great to exchange with and meet so many of our community members in real life. Thank you!

For those who weren’t there, here are our key takeaways:

Open Banking is everywhere: not surprisingly, lots of the chat and conversations revolved around Open Banking. And it was the same on the stands – Open Banking was the omnipresent buzzword. Good validation!
From Open Banking to Open Finance: spookily, we noticed that the open banking conversation is now spilling over to adjacent sectors, with offerings and discussions of corporate APIs, trading APIs and much more.
FinTech took the big stage: for an event focused on traditional banking, it was great to see lots of innovation and crowds of FinTech actors kicking around. There was a whole stage dedicated to FinTech and lots of enriching debates and discussions.
Climate discussion was also present at Sibos: we really appreciated that Sibos chose to contribute to climate change awareness by providing Oyster cards for the London subway, encouraging all delegates to use public transport. For our part, our CEO Simon went to London on the train and we just moved our OBP sandbox to Ireland as we prepare for wind power.

Looking forward to next year’s edition in Boston!

Citizens Challenge prototypes 12 new apps in three-day Hackathon

‘Citizens Challenge’ was Citizens Bank’s second hackathon in conjunction with the Open Bank Project. Taking place this past weekend in Boston, sixty participants registered for the highly successful ‘build an app in 24-hours’ event, held at District Hall in Boston’s Seaport District.

Twelve competitive teams pitched and demoed their new apps to seven judges, including the bank’s CIO. The winning team i2chains was awarded the prize of $10,000. Their app is a desktop client for downloading confidential data, generating a doc and encrypting it using a custom file format which can be transferred to users with custom rights management.

Other winning teams were $pare Change, exSeed, CCM, autointel and TrendingSpending.

Open Banking in Mexico with Citbanamex

In collaboration with the Open Bank Project, Citibanamex is organizing their first hackathon on Financial Inclusion. Fincluye takes place between October 25th and 27th in Mexico City.

The hackathon will provide startups, students, technology enthusiasts and creative minds in the Fintech industry with the opportunity to develop innovative solutions promoting financial inclusion for people and businesses in Mexico.

We cordially invite you to attend this event, and you’ll get a chance to win a prize of $350.000 MXN pesos.

Open Banking Expo- Europe

The motto of the event was “Putting a bank in every App”. Luca took part in the panel “How SMEs can accelerate growth and opportunity through Open Banking”.

Since the financial crisis struck, banks have further reduced their services to SMEs by turning to larger corporates with bigger fees, higher lending and larger balances. Thanks to PSD2 and Open Banking, this trend is going to change: banks and fintech will be able to deliver new potential solutions to SMEs, including cash flow forecasting, payroll management and account integration.

Banks are embracing new, specific banking API management solutions such as the Open Bank Project to capture, store and share data and metadata; such middlewares will be also key for collaborative efforts with FinTech players, and a lot more.

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Open banking: Business beyond regulation

Citizens Challenge prototypes 12 new apps in three-day Hackathon

Open Banking in Mexico with Citbanamex

Open Banking Expo- Europe

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