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

Where: Online

Cost: Free

Registration 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