Up to 50 programmers, designers and members of the financial services industry will come together on 19 March for the free event, for which registration is now open.

Working on their own or in groups, they will have access to a range of APIs and services to bring their fintech ideas to life before demoing them to a panel of bank executives, entrepreneurs and the general public.

The event has been put together by Tesobe, the Berlin-based developer behind the Open Bank Project and will include some of its fellow FinTech Innovation Lab London participants.

The Innovation Lab is an intensive 12 week programme organised by Accenture that will see participants get assistance and advice from executives at major banks and venture capital companies as they develop their projects.

The Open Bank Project is an open source API and management platform designed to enable banks and third-party developers to quickly and cheaply deliver tailored applications and services to customers.

The start-up says it will empower banks to improve their online services by opening up transaction data. Among its early efforts is a 'social finance' application that enables account holders to choose with whom they would like to share their transaction data. For example, an individual can share their account with their accountant; or a company with its directors; and a government department with the public.

Slightly more niche tools include a 3D visualisation of transactions around the world and the 'The Singing Bank', which plays a tune based on the users' data.