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First-of-its-kind event promotes innovation for a global financial ecosystem
Today NAB, CIBC, Ita Unibanco and NatWest Group launched the Global Open Finance Challenge, a virtual event encouraging innovation and the development of new solutions for a global open finance ecosystem.
The event is the second in a series of joint initiatives by NAB, CIBC, Ita Unibanco and NatWest Group aimed at building a stronger, more progressive global banking and financial industry.
The four banks, in collaboration with cloud computing leader Amazon Web Services (AWS), are inviting entrepreneurs and innovators to prototype new customer solutions on a global scale. The ideas will address some of the most pressing challenges in the financial services industry, cultivating an open finance ecosystem that allows secure data sharing among financial institutions, and enabling the banks to deliver more choice and customised product offerings for clients around the world, and the public at large.
The Global Open Finance Challenge will help transform our industry around the world by encouraging innovation and advancing our common goals: to support our clients in an evolving landscape through value-added digital services, more convenient access to the financial ecosystem through the channels customers want, and a continued focus on sustainability.
Ross McEwan, Group CEO, NAB; Victor Dodig, President and CEO, CIBC; Milton...