Over 100 UK FinTech companies have applied for the Open Up 2020 Challenge.
The challenge offers a £1.5mn prize fund, split among 15 finalists.
The competition is run by Nesta Challenges and the Open Banking Implementation Entity.
It runs from November 2019 – July 2020.
What does this mean?
It’s all about helping out the UK public, with the challenge to create an open banking enabled solution that benefits the consumer. As well as prize money, the winning products will be promoted through a national campaign on digital awareness.