Global Open Finance Challenge

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, 2021Where: OnlineCost: FreeRegistration and more info: www.globalopenfinancechallenge.com Why participate?

• • 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