How can a digital solution (application) help customers to simplify their financial life or keep their finance in a better shape? 

Open Finance is based on data-sharing principles, using data from multiple sources beyond banking. It connects banks, financial services, third-parties and technical providers – enabling them to simply and securely exchange data to their customers’ benefit and brings an opportunity for bank to be present wherever a customer might need it while offering via third partner provider the best custom-tailored products and services.

APIs are the way to integrate different banking and finance services into our lives and make them available anytime and anywhere. In order to build amazing apps and services, you need access to rich financial data and actionable insights. 
 
NLB is embracing Open Finance opportunities to improve customer experience, generate new revenue streams, and innovate and strategically transform core services for increasingly tech-savvy customers to capitalize on the true potential of transparency.

… a brilliant business idea for a product or service based on the Open Finance approach that has value for the end-user, substantial market demand, is innovative and has a great revenue potential for the bank and developer.

An innovative business model with commercial viability and business potential that can generate new customers and revenues. 

A modern solution - web and/or mobile application or at least a coded minimum viable prototype (coded MVPr) based on Application Programming Interfaces (APIs), that could help shape new types of services which would solve our customers’ problems (individual persons and/or SMEs).

We would like to find the best coded solutions and suggestions on additional APIs that will enable us and other providers (fintech) to create solutions that would address our customers’ problems in the following segments using Open Finance data:  Financial Management, Financial Planning and Wealth Management, Protecting Seniors’ Financial Health, Personalized Financial Advice and many, many others.

Here are just a few examples:

• An app used by digital financial advisors to help customers take better financial decisions.

• An innovative app that provides guidance that helps users save and spend their money wisely to pursue and reach their financial goals. 

• An app that can aggregate and analyze investors’ assets and debts making personalized investment decisions based on their life goals and risk tolerance, with comparison to their peers or general market.

• Other opportunities and ideas on how to use Open Finance to support people and companies or other vulnerable communities in vulnerable circumstances.

A fully working web and/or mobile application that connects to the sandbox by their choice and uses the API to set up or at least coded minimum viable prototype (coded MVPr) showing customer interaction and fits into the category of Open finance (Banking, Lending, Insurance, Asset Management, Wealth Management, Unsecured Lending, Mortgage, Pensions, Real Estate, Leasing and  others.

A PDF summary that includes problem statement which clearly states the pain point(s) of the solution, description of proposed functionality, technology used and short and simple business model.

A short demonstration Video of your Project