Having a bank account is a privilege. Over 1.7 billion world citizens are excluded from the benefits and entitlements provided by access to a bank account. Almost two billion people have no access to affordable financial products addressing their specific needs.
A few months ago I broke up with my cofounder and stopped working on our idea to build a digital credit card service for SMEs in Europe (see my blog post). Even though I find the idea still fascinating I decided to take some time off and started freelancing instead.
Green mortgages are already an example of a green solution, we just want to help the world create more of them. A green sandbox has the potential to speed up green innovation, cut experimentation costs, and be of great value to investors, consumers, companies, banks, and governments.
Open Banking is a decentralized software development model that allows consumers and companies to share their banking information (transaction history, account balance, etc.) with third party service providers and app developers using open Application Programming Interfaces (APIs). Naturally, this only takes place with the end customer's prior authorization.
Customer data is very much linked to recent phenomenons like the digital economy, the Internet and the way people use it; therefore it seems that some individuals, companies, policymakers, and societies are yet to understand its market dynamics (also due to a certain degree of market opacity and the lack of regulation).
A trip through time from Mesopotamia, through the Roman Empire and all the way to our present world. A journey undertaken to understand why the model suggested by the Payments Service Directive 2 (PSD2) acts as a stepping stone to an integrated digital economy.
Kubernetes abstracts compute resources in a cleanly defined way. After all, most systems at their core ultimately bind to a port and send data across a binded port; It's unkind to reduce software solutions to this level, but that's the basic abstraction.
I just returned from Hong Kong where our Open Bank Project team helped organise a hackathon with HSBC teams. The event was a great success, and brought students, entrepreneurs and bank employees together for a weekend of fintech innovation and software creation.
Setting priorities is no easy task, with compliance deadlines with PSD2, bank competitors launching their own offerings and new fintech startups entering the market ever faster. Many of the banks we met recently expressed a certain confusion over what to do next and how to win the Open Banking race.
The financial services industry is undergoing a revolution in how software solutions are manufactured and delivered to end customers. The services which we know as Open Banking enable individual customers and businesses to share their financial data with third parties.