OP Financial Group invites you to develop an ultimate intelligent data agent or AI for personal financial management. We have gathered a consortium of leading European banks (Crédit Agricole, Raiffeisen Bank, Rabobank, DZ Bank and Iccrea Banca) from our Unico bank network to provide you with the opportunity to develop personal financial management solutions for the European market.

In order to achieve this, you may use financial transaction data from OP Financial Group and other Unico banks using our Open Bank Project APIs and IBM Watson resources. Additional challenges: How in general to use transaction data to create new solutions, apps or devices? How can we help customers understand valuables without them having to spend time analysing complicated data?

In order to achieve this, you may use financial transaction data from through OpenBank

Project APIs and IBM Watson resources. Additional challenges: How in general to use transaction data to create new solutions, apps or devices? How can we help customers understand valuables without them having to spend time analysing complicated data?

Background

Even though the digitalization has changed the landscape of financial services, our needs still remain the same. We make purchases, take out loans, need insurances… Maybe we also worry about bills and not having enough money on our savings account. In one way or another, making financial decisions still remain at the centre of our everyday lives. Thanks to new innovations, making a purchase will be even easier in the future. Most likely credit cards and payment applications will be replaced by smart clothing, accessories or IoT solutions like intelligent cash registers. But how to keep track of your expenses and make sure you don’t overspend, when the act of payment will be removed from the equation?

What if you could find a way to remind you of your account balance and predict future expenses? Or you could make your own financial behaviour more visible to you and the people around you?
It’s easy to check your account balance from your phone – just one look and you know what’s there. But what if you didn’t have to do it? What if you could set parameters, like your income, expenses and the desired lifestyle choices and let your app give you sound financial advice. Like your own private banker would.

Then again not all of your assets are numbers on your account. A growing number of Finns own land and forest, but only a handful of them have an idea of its financial value. With the help of hardware or software solutions, could it be possible to find ways to make you more aware of your land ownership and measure its value? What if you could receive personalized advice on how to make most of this source of income?

You can approach the challenge from a customer’s or the service provider’s point of view. We are looking forward to both.

Examples

  • Design a personal financial assistant or advisor application that will keep track of your expenses AND predict future decisions by using artificial intelligence technology and Mydata / Big Data.
  • Design a new method to serve customers based on intelligent advisor technology. This could be an app, a drone, or a robot – or then something completely different.
  • Design an application that can be used to illustrate and measure the value of your nonmonetary assets (e.g. land, real estates) in a compelling and engaging manner. This can also mean taking physical measurements, like density or tracking changes in the landscape (hardware, drones).
  • Find a way to use wearable technology for different payment transactions

Considerations
Future regulation (e.g. PSD2) in finance opens up new opportunities to provide services for a larger audience. OP Financial Group works together with Open Banking project to provide you APIs that are adopted by banks around the world.

APIs, hardware other tech
Open Banking, Big data, AI Watson and VR (?), My Data, Transaction Data from several banks
Drones, robots other hardware

Prizes

Money and gadgets

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