CHALLENGE AND OUTCOME
The teams will have two main challenges, connected to PSD2:
The teams will have two main challenges connected to PSD2(The Revised Payment Service Directive):
We do believe that the HACKATHON will prove very useful in order to unleash the potential of different mindsets coming from both UniCredit’s internal and external developers – for the purpose of maximizing our bank’s benefit from the open banking environment. The challenge we propose is "CREATING VALUE BY USING CLIENT DATA".
As UniCredit has been preparing for PSD2, we expect that the event is going to support our endeavors for the same purpose. PSD2 will force all EU financial institutions to provide to third parties direct access to their customers’ accounts. Banks would open client account information public on the condition that client consent is given. We would like to know “how client account information can be used to create value” for our bank and our customers.
We want to connect the end value of UniCredit Hackathon CEE with “getting deeper insight than what we currently have” about our (existing and prospect) clients by using data with new ideas.
For the purpose of the challenge we welcome the opportunity to offer two types of APIs:
Transactional data and payment initiation functionalities will be available in order to stimulate creative thinking on data use for individuals and companies. Ideas and data can bring together Bank’s Retail and Business/Corporate clients and create value 3 way – for the individual, business and the bank.
EXPECTED OUTPUT BY THE PARTICIPANTS
There is no limit on the type of the value created from the client data. Anything from credit scoring to predicting or prescribing the next best action of the client would be possible – the only expectation is to get a working product (within the time frame given) that produces value for individuals, companies or even a hybrid of the two.