A Romanian start-up FINQWARE took the main prize in the PSD2 Challenge at Citi Handlowy, a competition which was to identify the best solutions in the area of open banking prepared with the use of Citi API. The authors of a multibank platform FINQ for aggregation of data concerning personal finance received a check for the amount of PLN 25,000 from President Sławomir S. Sikora.
Financial awards were also given to solutions which took the 2nd and 3rd position in the competition. A company SentiOne presented a solution engaging AI algorithms and deep learning technology in online communication with clients, while Zweryfikujfirme.pl developed an automatic company verification model, which was also appreciated by Mastercard, the partner of the competition.
Microsoft, in turn, distinguished a platform for analyzing expenses and savings based on account history, prepared by CapitalLab, while the Youth Business Poland foundation rewarded the idea by Blockey in which a KYC process was reduced to a few seconds thanks to identification on the basis of a bank login.
Ø 1st place - PLN 25,000 - FINQWARE
Ø 2nd place - PLN 15,000 – SENTIONE
Ø 3rd place - PLN 10,000 - ZWERYFIKUJFIRME.PL
Ø Mastercard Award - ZWERYFIKUJFIRME.PL
Ø Microsoft Award - CAPITAL LAB
Ø Youth Business Poland Award – BLOCKEY
Ø 2nd place - PLN 15,000 – SENTIONE
Ø 3rd place - PLN 10,000 - ZWERYFIKUJFIRME.PL
Ø Mastercard Award - ZWERYFIKUJFIRME.PL
Ø Microsoft Award - CAPITAL LAB
Ø Youth Business Poland Award – BLOCKEY
Ideas submitted to the PSD2 Challenge involve solutions which are fully developed, ready for implementation, and present an innovative approach to banking services. They offer optimization of processes in corporate banking and modern solutions for retail clients – thanks to the PSD2 Challenge we could feel how creative will be the approach to banking after the effective date of the PSD2 directive, notes Łukasz Krystman, Remote Products and New Technologies Unit at Citi Handlowy.
Citi Handlowy as the first bank in Poland enabled third entities to use the regulatory sandbox compliant with the PSD2 directive. Using the Citi Developer Portal, entities from the fintech industry could elaborate ideas for integration with the use of Citi API and test it in the real banking environment. Finalists of the PSD2 Challenge: SentiOne sp. z o.o., Scanye sp. z o.o., Zweryfikujfirme.pl, BANQUP BVBA, NBG SP. Z O.O./Virtu Rent, CAPITAL LAB sp. z o.o., Autenti sp. z o.o. O.O., FINQWARE, BLOCKEY I FREEPORT METRICS.
Partners of PSD2 Challenge include the Kronenberg Foundation at Citi Handlowy, Microsoft, Mastercard, PWC, Youth Business Poland, HubHub, The Heart, Startup Poland, Akademickie Inkubatory Przedsiębiorczości (Academic Business Incubators), Business Link, Sieć Przedsiębiorczych Kobiet (Entrepreneurial Women Network), Black Swan and Infullmobile.
