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Populating the open finance ecosystem

To move from open banking to open finance, the industry is supporting innovators with the Open Finance Appathon

Open banking provides tremendous opportunities for businesses to transform their services to create personalised offers and an even better customer experience, for better business results. Imagine how much more that would be true if we went from open banking to open finance – from being able to share payment account details only to sharing all financial data.

The opportunities in open finance would revitalise the complete financial landscape, giving consumers and businesses more control and choice in their insurances, mortgages, pensions, savings and credit accounts, and investments. To help this new ecosystem get established and ready to flourish, YTS is doing our part in nurturing some promising seedlings.

YTS is a partner in the Open Finance Appathon

We are proud to partner with OBE, Finastra and Railsbank in the first appathon designed to expand open banking into open finance. Are you working at a technology start-up or scale-up with a minimum viable open banking or open finance product? Then we challenge you to integrate your solution with our API or that of one of the other partners, submit your result as an entry in the appathon, and help shape the future of API-based commerce.

Leon Muis, YTS Chief Business Officer, says: “Giving consumers and businesses the control and interconnectivity to use digitised financial information can transform the way financial services are accessed and delivered. The Open Finance Appathon embodies this aim, and YTS is pleased to be part of an initiative which will propel the move towards open finance. Working together is key, and partnering with like-minded organisations shows what can be achieved when we pull together.”

We look forward to seeing your application

The call for submissions is open until 30 October, so act quickly! From the submissions, twelve applicants will be shortlisted for the finals. All finalists will receive $5,000’s worth of lifetime AWS Activate Credits, and the winners will be awarded another prize in API credits. Beyond that, of course, there is the prize of gaining first mover advantage in a new field with unlimited potential.

Visit the website to learn more about the appathon and submit an application.

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