Spanish bank BBVA is releasing its raw transaction datasets to developers as part of an international competition to create new services, applications and insight into consumer demands.
Applications for the BBVA Innova Big Data Challenge
close in December, with EUR90,000 in prize money up for grabs.
The Spanish bank has so far attracted developer talent from 27 countries, and opened an English language version of its Website to encourage further international interest. BBVA has also hosted a series of workshops to drum up enthusiasm from the developer community.
Participants are provided with an API containing non-identifiable customer purchase data and documentation via a purpose-built developer portal.
On the Innova Challenge Website, the bank states: "Our aim, as well as ensuring that these data are more accessible and easier to use by anyone, is to provide them with intelligence so that decision-making by companies and public institutions can be more efficient and favour improvement in the quality of life of their citizens."
BBVA has already undertaken a number of big data projects in collaboration with public institutions, for instance examining the dynamics of tourist traffic in Madrid, and by performing analysis of commercial data to aid in urban rehabilitation, regeneration and renewal projects with Spain's Ministry of Civil Works.
Internally, big data dissection has focussed on risk analysis of small business transactions and discovering optimal locations for ATMs and branches.