A competition aimed at fintech startups and scaleups to identify new solutions that, through the use and analysis of data, allow to customize the offer of products and services to customers. This is the “Sella Data Challenge”, the innovative initiative launched by Banca Sella as part of its open innovation strategy that sees the bank collaborate with digital realities in order to co-create new products and services, thanks also to open banking platforms that allow access to account information through APIs (Application Program Interfaces).
The “Sella Data Challenge” is organized in collaboration with the Fintech District – the community point of reference for innovation in the financial services industry, where fintech, corporate, and traditional financial operators can collaborate to create open innovation projects through industrial and commercial synergies, developing new services and attracting investment – and Fabrick, the first actor born in Italy with the aim of promoting open finance by defining new business models and banking services.
Read more about Banca Sella’s competition and find the latest financial headlines with the Born2Invest mobile app.
Sella Data Challenge, how the challenge works
The optimization of the lifetime value assessment process, a key indicator for the analysis of customer purchasing behavior, or the adoption of new models of pre-scoring, i.e. prior assessment in financing applications, are just some of the examples of processes that can be innovated thanks to a better use of data and on which participants in the challenge can work.
Startups and scaleups will be able to develop new solutions starting from the analysis of customer data, made available anonymously by Banca Sella on the Fabrick “data sandbox”, an open banking platform on which the bank has published its APIs. This is a true test and development environment, consistent with privacy protection regulations, which allows participants to access the portal, view data that has been anonymized and can then be used to perform the desired analyses.
Selected participants will have two and a half months, starting in mid-March 2021, to realize and present their idea, through a working prototype, demo, application or simply a “proof of concept.”
During the challenge they will be supported weekly by a team of professionals from Banca Sella, the Fintech District and Fabrick, who will help them in the development of their project.
Sella Data Challenge, how to participate
The application to the challenge must be sent by March 15th, 2021 using the chosen portal, explaining 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 market potential, innovative contribution in data management and the real development potential of the idea presented. Participants will receive credentials to access the “data sandbox”.
The fintech startup that will win first place, will be awarded $18,000 (€15,000) to develop and test the solution identified with Banca Sella.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in EconomyUp, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Chainlink (LINK) with big update and new possibilities
Chainlink has released the OCR (Off-Chain Reporting) update, which can open up new data sources and generally increases performance. It...
Mazzanti manufacturer launches a STO after three equity crowdfunding campaigns
The campaign launched by Mazzanti has a duration of 60 days and has a minimum target of $964,000 (€800,000) and...
Gimme5 and Conto Lingotto enter Nexi Open, Nexi’s ecosystem for open banking
In 2020, Nexi Group reported Ebitda of $724.3 million (€601.4 million), up 2.5%, against revenues down 2.8% to around $1.25...
Why cotton futures made a new weekly chart high close
Cotton futures were higher for the week and made a new weekly chart high close once again. The weekly export...
Silver Supply Shortage: What Investors Need to Know
Precious metals received renewed interest as investment vehicles in the face of a global pandemic, as inflation-proof hedges in an...
Crypto7 days ago
Bitcoin slips back to $53,000 and major altcoins go lower on February 22nd
Biotech7 days ago
BB Biotech: Positive development in a volatile market environment
Featured7 days ago
The keys to ESG investment in 2021 in the face of growing interest and profitability
Business6 days ago
Virtual Reality (VR) mingles with team sports