#ChatSurance shows the possibilities of ‘Open Banking’, combines FinTech with InsurTech and walks away from the Bankathon stage as the winner
Combination of various APIs and inclusion of ‘Alexa’ impress jury
figo has done it again: For the fifth time, the Hamburg-based FinTech company has put on the banking and FinTech hackathon. Venue: Berlin. Wear and tear? Nowhere to be seen! The fact that the Bankathon is established as a neutral platform in the financial sector, bringing together the most – and we mean the most – diverse players in the industry, particularly shines in this fifth edition. Banks, industry associations, payment providers, initiatives, credit bureaus, company builders, consultancies and cloud providers were among the sponsors and supporters. 20 teams from different nations addressed the topic “PSD2 & … ?!”. In the end, their prototypes had to be found within the topics of Health, Identity, Insurance, SME or Travel.
See the video from the Association of German Banks “Bankathon #5 in 60 seconds” (German):
Here you can look at and download our detailed Bankathon #5 recap presentation:
Go! – Parliament and Council should approve provided RTS
It’s almost done! On Monday this week, the European Commission submitted the Regulatory Technical Standards (RTS) for approval by the European Parliament and Council. figo generally welcomes the latest version with regard to the outcome on XS2A communication under PSD2, even if the devil is in the details once again. Any lingering issues – which we will further outline below – should not become deal breakers and the Parliament and Council should give their approval. We think that these last hurdles can be properly solved by the EBA and national authorities, if they plan their practical involvement wisely now. (more…)
Click on the pic to get the brand new, third update of ‘RTS Change Log’!
Now it’s almost done! The European Commission submitted the Regulatory Technical Standards for approval by the European Parliament and Council. Subject to the scrutiny period of three months, the rules will be published in the Official Journal of the EU and payment service providers will have 18 months to put the measures and tools in place.
In order to enable you to keep track of the financial changes, figo shares the third ‘RTS Change Log’ version with you! Simply click on the image!
We love to make your life easier by means of our technology and information on the related topics. So sharing our progress in keeping track of the changing requirements of relevant banking regulation feels like the right thing to do for us. Enjoy the convenience!
“In principle, PSD2 opens up possibilities for all kinds of companies that could allow them to improve existing products and services through banking data and create new products by combining their technology with bank data”, said Niklas Grunewald from Deutsche Bank Innovation Labs, Berlin. Thanks a lot for answering the interview and supporting the Bankathon as a Gold Sponsor. We could not imagine a Bankathon without Deutsche Bank! 💙 (more…)
“Hackathons show us, in the financial industry, many new options. And they demonstrate that no complex and cost-intensive projects or consultation/coordination loops are necessary to be innovative”, explains Andreas Krautscheid, Member of the Senior Management Board, Association of German Banks (Bundesverband deutscher Banken) in this interview. Yes you’ve read correctly: The Association of German banks supports the Bankathon for the first time. By this, we demonstrate once more that the Bankathon principles are bearing fruits: As a neutral platform, we bring together all the different parties of the financial services industry. We are really looking forward to Bankathon #5 in Berlin next week.
“We hope the Bankathon will allow developers to leverage our Visa Developer Platform, giving us valuable input on how to use and improve our APIs. And of course, it would be a highlight if, like last year, our APIs help the team that wins it”, explained Michael Hoffmann Visa’s motivation to support the Bankathon as a Diamond Sponsor. We are happy to have you again on board and thanks for providing one out of six APIs! 🙏🏻 💪🏻
You scratch my back and i’ll scratch yours! On September 20th figo supported verimi in realising their first hackathon. Now, verimi supports figo’s Bankathon in Berlin with a Gold Sponsorship. Donata Hopfen, verimi CEO, told us that she is looking forward to working together with the teams to use the verimi interface to develop new solutions that are relevant to the banking industry. Thanks for supporting us!!! 🙏🏻 (more…)
To bring an event like the Bankathon to success, not only sponsors are required but media partners as well. That’s why we are happy to have finletter as a media partner. figo has a special relationship to the finletter founders Carolin Neumann and Clas Beese. Two years ago we worked in the Betahaus Hamburg. And now we still work together and support each other – even though there is no physical proximity. Carolin and Clas created with finletter a medium that is already a crucial part in the financial sector. The finletter provides the best weekly FinTech overview that conveys the impression of not missing financial news. In the interview they tell us why it is important to them to support the Bankathon.
“We are always looking for new services and products to inspire our customers. We like to try new things and are currently working on many innovative projects. Of course, at the Bankathon we hope that our team comes up with an idea that we can actually implement later on”, said Michel Billon, CEO Hanseatic Bank. By answering the last question he provides a look behind the scenes! In Hamburg Hanseatic Bank supported the Bankathon the first time as a sponsor. This time they are supporting us as a Diamond Sponsoring. Thanks a lot for that! We are looking forward to having you in Berlin and good luck for your participating team! (more…)