This November, four leading banks from across the globe are joining forces to explore the future of finance in the Global Open Finance Challenge. The event will be co-hosted by NAB (Australia), ITAU (Brazil), NatWest (UK) and CIBC (Canada), and is the first of its kind.
The Global Open Finance Challenge is a week-long virtual event that will bring together teams from around the world to pitch API-enabled propositions on a global stage. Participants will receive mentoring from respected banking executives and ventures teams before going head-to-head with their ideas.
The top four teams will each have the opportunity to participate in a post-event tailored incubation program. This program will include the following:
- Proof of Concept with a Bank: a dedicated in-bank team to collaborate and support a proof of concept, including feedback from front-line and customer research groups.
- Ventures Pitch: Post-Event Teams will have the opportunity to pitch to all of the Banks’ ventures teams
- Local Market Guidance: Post-Event Teams will receive exclusive meetings where in-bank teams will provide education on the Banks local market environments.
- Senior Leadership: exposure to internal decision makers for networking relationship support and partner discussion
- Media Coverage: the winning teams will be featured in press releases across global and local banking, fintech, and technology media channels
- Solution Architecture: expert consultants from Amazon Web Services (“AWS”) will provide support on functional and technical designs
Your opportunity to build an API-enabled concept in response to one of the following challenges:
- Experience: How can we better serve our corporate and business customers, and the public at large, by delivering high-value digital services?
- Convenience: How can we help current and new customers access banking services through more convenient or relevant digital channels?
- Sustainability: How can we find innovative ways to help our customers make better decisions around climate and sustainability?
Registrations close 26 September, 2021
Registration and more info: www.globalopenfinancechallenge.com
- Growing and nurturing domestic talent and ideas to solve global problems
- Teams can access APIs from 4 global banks (which normally have a hire barrier to entry to obtain accreditation to leverage) which is a great chance for Aus start-ups to test their solutions in new marketing
- The above complimented by the fact winners will get a PoC with the global banks – all banks have committed – A great opportunity for AUS start-ups to expand overseas with the help of local banks and AWS
- NAB Ventures are supporting finalist teams – great chance for businesses to showcase to the team
- IP remains with the participants – the banks will not own any of the IP
- The judges are all the banks CEOs AND the CTO of Amazon Group
- Opportunity for students to showcase their work front of global banking, VC and Amazon execs
- Mentorship is included in the process so are webinars, fire side chats, networking and pitch workshops – all online