UniCredit and Open Bank Project launch fintech start-up competition
UniCredit and Open Bank Project, an open source API and app store for banks, invite fintech developers and start-ups to take part in its Appathon competition.
The 2016 Appathon is driven by the Open Bank Project API, developed by the Berlin-based Tesobe Ltd/Open Bank Project.
Ten companies will be selected to demo their products in Milan on 20th July 2016. UniCredit’s senior management will judge the demos and select the winners of the Appathon.
Travel and subsistence costs related to demo day will be covered by the Appathon organisers (up to €1,000 per team)
Participants can apply online. Closing date for entries is 13th July.
The Appathon will be run in a controlled environment, i.e. “sandbox”, using test data emulating real-life situations. It will focus on:
- Payment Services Directive (PSD2)
- Moment-based insight
- Digital wallet 2.0
Participants are expected to utilise current technology trends, including biometrics, mobile wallets/payments, artificial intelligence (AI), social media banking and innovative business models.
“Winning apps will be concrete ideas and proposals aligned with the business needs of the UniCredit Group,” state the Appathon organisers. “Successful entries will be suitable for immediate development and integration with UniCredit Business Integrated Solutions, the global service company of the group.”
- 1st ranked: a professional collaboration package worth €50,000 with UniCredit Business Integrated Solutions;
- 2nd ranked: Innovation prize – two tickets to attend Finovate London.
- 3rd ranked: Tech prize – one virtual reality (VR) headset
- Attendees prize: €50 of bitcoins per person.