Open Up Challenge:
Media Coverage

Duis accumsan vitae enim in maximus. Mauris ac metus sit amet leo vulputate porta at quis est. Suspendisse mattis auctor facilisis. Phasellus ac turpis et odio interdum tincidunt. Nulla scelerisque lectus sit amet sapien viverra pretium. Quisque a quam metus. Vestibulum porta elementum ornare. Ut quis justo placerat, blandit massa eu, accumsan lectus.

'A Dozen Start-ups Promising To Revolutionize SME Banking' (Forbes, 27 June 2018)

How do the UK’s small and medium-sized enterprises get a better deal from the banking industry which has for years neglected smaller businesses – or simply ripped them off? One solution, hopes the Competition and Markets Authority, is more competition from innovative new entrants to the financial services market, particularly in an era of open banking.

read more

'Open Up Challenge finalists announced' (Finextra, 21 June 2018)

Nesta’s Challenge Prize Centre has today announced the twelve fintech businesses who will participate in the final phase of the ‘Open Up Challenge’.

read more

'Seeding A Revolution' (Forbes, 14 January 2018)

10 Prize-Winning UK Fintechs Set Out Their Ideas For Open Banking Services.

read more

'Open Banking is a month away. Here's a big clue what it will do' (Wired, 13 December 2017)

Automated tax reporting, AI financial assistants that can forecast, and intelligent cashflow engines have all made it to the final of Nesta's £5m fintech prize.

read more

'To change how you use money, Open Banking must break banks' (Wired, 16 October 2017)

On January 13, 2018, the UK's big banks will be forced to show startups their most precious data. But is Open Banking too revolutionary for its own good?

read more

'Open sesame: PSD2 will trigger a tech boom' (AccountingWeb, 4 October 2017)

Alongside the risks, the promise is certainly there. A finance director will be able to pick and choose the tools they need to enhance their strategic capabilities. From the looks of the market, they’ll be spoilt for choice.

read more

'Open Banking’s a step closer with these 20 fintech startups, but the clock is ticking on the CMA’s deadline' (City AM, 19 July 2017)

The UK’s progress toward making banking more open has taken another step forward after 20 fintechs were chosen to test out a new way of sharing banking information for the benefit of customers.

read more

'Open Banking is coming. Here's the very first glimpse' (Wired, 18 July 2017)

The winners of Nesta's £5m fintech prize show just how significant Open Banking could be.

read more

'Smile, banking is being forced out into the great wide open' (The Sunday Times, 25 June 2017)

Entrepreneurs should be able to borrow more easily from hi-tech rivals.

read more

'£5m prize fund launched to help de-stress ‘stifled’ SMEs' (The Scotsman, 26 April 2017)

It is an irony that research has shown that one in five small business owners strike out on their own to cut stress, but one in three say dealing with business finances is their biggest source of it.

read more

'Why open banking is the next frontier for financial innovation' (Growth Business, 13 April 2017)

With the EU’s Second Payment Services Directive (PSD2) and the UK’s open banking framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty.

read more

'Charity reports finds ‘stress of financial paperwork’ is making small business owners people ill' (This Is Money, 8 April 2017)

Small businesses’ growth could be stifled because of the burden of financial administration, a study says. The report – for business innovation charity Nesta – found that 42 per cent of entrepreneurs say dealing with finances is the most stressful aspect of running a company. And 17 per cent add that the stress has made them unwell.

read more

'How small businesses can gain control of their finances' (The Telegraph, 30 March 2017)

According to new research from Nesta, the innovation charity, 40pc of British entrepreneurs have admitted that managing their finances and banking has become the most stressful part of running their business.

read more

'Here’s why open banking tools should target small businesses' (Business Insider, 24 March 2017)

While there’s been a lot recent interest in the benefits of open banking, much of the discussion so far has centered only on consumers.

read more

'A Banking Revolution For Small Business – UK’s Nesta Challenges FinTech To Step Up To The Plate' (Forbes, 17 February 2017)

Small business banking in the United Kingdom is about to undergo a radical shake-up, driven in part by pressure from the competition regulator.

read more

'UK Banks Fund £5m Fintech Prize to Build Apps for Small Businesses' (Wired, 15 February 2017)

Innovation foundation Nesta is launching a £5 million prize fund to inspire the creation of apps and tools to help small businesses compete in the digital economy.

read more