Challenge Overview
We have a very interesting Ideation challenge for you! Put on your business and technical thinking-caps please folks! On the 13th of January 2018, openbanking.org.uk will be launched.
With the launch of Open Banking, customer data will be opened up to the other banks, so that banking customers have freedom to choose who they save with, who has the best loan deals for a mortgage, auto insurance, home insurance, ISAs and other retail banking products. To find out more about what Open Banking please visit https://www.openbanking.org.uk/about/
Our banking customer would like ideas for how they could leverage Open Banking APIs:
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What can our banking customer do with these APIs to differentiate themselves in the UK market?
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What new products and services could they offer?
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Given that the bank has personal data about their customers, such as transaction history, spending habits etc, how could they use a combination of the private data with the open banking data?
Please DO NOT submit ideas related to the bank acting as an aggregator, such as Google Bank, Facebook or other similar aggregator FinTech businesses.
Use your skills as a developer to understand what the Open Banking APIs offer to come up with ideas. Note: you can use both the Read-Write APIs and Open Data APIs. You are also free to use other public APIs (e.g. Google Maps API).
Please submit a written document describing your ideas and include specific APIs from the Open Banking APIs that you would use with example API calls and data.
The winning submissions will be determined by aggregate score of two Topcoder reviewers and one customer review.
Good luck and happy ideating!