Blogging

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.

As we are preparing for our 60th hackathon, I wanted to reflect on some of the things we’ve learned and to offer some key advice to participating startups on how to get the most out of these events. 

Together with the Australian Payments Council, which counts the country’s largest financial service providers among its members, our TESOBE team will host an hackathon event over a long weekend in two locations: Sydney and Melbourne. 

We are excited to share with you our annual report "Understanding APIs in Banking 2017" which will also be released at Money2020 Europe in Copenhagen (June 26-28).

Spreading the gospel of open banking has a nice thing about it: you get to travel the world, meet extremely smart fintech entrepreneurs and experience the future of banking first-hand.