A competition aimed at startups and fintech scaleups to identify new solutions that, through the use and analysis of data, allow to customize the offer of products and services to customers. IS «Sella Data Challenge», the innovative initiative launched by Sella Bank as part of its open innovation strategy that sees the bank collaborating with digital realities in order to co-create new products and services, thanks also to the open banking platforms that allow access to information relating to accounts through API (Application Program Interface). The «Sella Data Challenge» is organized in collaboration with the Fintech District.
The optimization of the lifetime value assessment process, a key indicator for the analysis of customer purchasing behavior, or the adoption of new pre-scoring models, i.e. preventive evaluation in loan applications, are just some of the examples of processes that can be innovated thanks to a better use of data and on which the participants in the challenge will be able to work.
Startups and scaleups will then be able to get involved to develop new solutions starting from the analysis of customer data, made available anonymously by Banca Sella on the Fabrick “data sandbox”, the open banking platform on which the bank has published its own API. It is a real test and development environment, consistent with the regulations for the protection of privacy, which allows participants to access the portal, view the data that has been made anonymous and which can then be used to carry out the desired analyzes. .
The selected participants will have two and a half months, starting from mid-March 2021, to create and present their idea, through a working prototype, a demo, an application or simply a “proof of concept”. During the challenge they will be supported weekly by a team of professionals from Banca Sella, Fintech District and Fabrick, who will help them in the development of their project.
The application for the challenge must be sent by March 15, 2021 using the dedicated portal, illustrating your idea on the use of data and the project you want to develop. The ideas collected will then be selected on the basis of their potential on the market, the innovative contribution in data management and the real development potential of the idea presented. Participants will receive the credentials to access the «data sandbox». The fintech that wins the first place will be awarded 15 thousand euros to develop and test the solution identified with Banca Sella.
The Sella Data Challenge is an initiative organized in collaboration with the Fintech District – the reference community for innovation in the financial services industry, where fintech, corporate and traditional financial operators can collaborate to create open projects. innovation through industrial and commercial synergies, developing new services and attracting investments – and Fabrick, the first actor born in Italy with the aim of promoting open finance by defining new business models and banking services.
Source: RSS DiariodelWeb.it Innovazione by www.diariodelweb.it.
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