22 September 2017
visit www.avoka.com

Emirates NBD launches global challenge for fintech startups

25 February 2016  |  10307 views  |  0 Email security

Middle East banking powerhouse Emirates NBD is inviting fintech startups from around the world to take part in a competition to design digital financial services tools for the chance to win cash prizes.

Firms are invited to submit ideas online by 1 April, with a focus on one of five key areas: customer acquisition and onboarding, loyalty and engagement, SME banking, banking in the age of blockchain, biometrics, and IoT, and Islamic banking.

Between 15 and 20 finalists will then receive travel stipends to make their way to London in mid-April for a three-day hackathon where they will develop their products, receive mentoring and present to a panel of senior Emirates NBD and Emirates Islamic execs.

The panel will pick three winners, which will receive between EUR10,000 and EUR20,000 each and the chance to further develop their products with the bank.

Developers won’t have access to real customer data but will instead use the Open Bank Project API ‘sandbox’ to simulate access to customer data and banking services as well as other API’s and data sets.

The Open Bank Project from Berlin-based Tesobe 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. It was used for a hackathon by Ulster Bank last year.

Separately, Canadian digital bank Tangerine is also finding new ways to work with the startup community, partnering Ryerson University on a Toronto-based "thinkubator". The space in Tangerine's offices will see selected startups working on fintech and mobile-connected workforce tech.

According to Betakit, startups will be given the freedom to work on the ideas they want and Tangerine won't take equity stakes in them, although could pilot promising products and services.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas completes blockchain for transaction banking hackathon

BNP Paribas completes blockchain for transaction banking hackathon

02 February 2016  |  10094 views  |  1 comments | 15 tweets | 20 linkedin
Scotiabank preps $25k hackathon

Scotiabank preps $25k hackathon

28 January 2016  |  4964 views  |  0 comments | 6 tweets
Malaysian coders win $100,000 MasterCard hack

Malaysian coders win $100,000 MasterCard hack

10 December 2015  |  5405 views  |  0 comments | 4 tweets | 2 linkedin
NAB challenges developers to work on its API

NAB challenges developers to work on its API

04 November 2015  |  5764 views  |  0 comments | 5 tweets | 9 linkedin
Ulster Bank runs hackathon to find 'annoying' applications

Ulster Bank runs hackathon to find 'annoying' applications

13 January 2015  |  9008 views  |  0 comments | 11 tweets | 5 linkedin
Emirates NBD lets customers shake their mobile to save

Emirates NBD lets customers shake their mobile to save

08 January 2014  |  7220 views  |  1 comments | 11 tweets | 9 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.vasco.comdownload the paper now

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12599 views comments | 26 tweets | 42 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10990 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9554 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8211 views comments | 18 tweets | 27 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8137 views comments | 5 tweets | 4 linkedin

Featured job

Find your next job