The Financial Data and Technology Association (FDATA) has launched the first Open Banking Awards recognising excellence in providing innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives.

The awards are the first of their kind and will form a key part of the 2nd Annual Global Open Banking Summit being held in Edinburgh in December. This two-day Summit will bring together regulators and policy makers from around the world to discuss how we’re going to deliver Open Banking, collaborate on standards and set the agenda for best practice. This event is about influencing the decision makers and regulators and establishing the tone for the Open Banking movement globally.

There are 12 awards categories:

1. Overall most innovative new product feature using account aggregation as a force for making lives better
2. Best new innovation in consumer lending using account aggregation
3. Best new innovation in a consumer saving or wealth journey using account aggregation
4. Best new innovation in consumer money management using account aggregation
5. Best new innovation in solving problems for small businesses using account aggregation
6. Best new innovation in third party payments for retailers
7. Best new innovation in driving frictionless digital financial distribution
8. Best new innovation in third party payment initiation for consumers
9. Best use of applied data science using (account aggregation) as a force for good
10. Best bank or credit card API customer journey built on open standards
11. Best technology provider vending to Open API Standards
12. Best new innovation from a Technical Service Provider

A prestigious awards dinner will be held at the National Museum of Scotland in Edinburgh as part of a two-day global summit on 6th & 7th December, bringing together key regulators and policy makers from around the world to discuss and debate the delivery of open banking. The summit itself will be held in the city’s iconic McEwan Hall.

FDATA Global Chairman Gavin Littlejohn said:

“FDATA Global has been at the forefront of the open banking movement encouraging collaboration on standards around the world to embrace changes which empower consumers to have more control in managing their finances.

“The environment is changing quickly, and fintech companies have been moving at speed to innovate in line with these changes. These organisations deserve recognition which is why we are delighted to be launching the inaugural FDATA Open Banking Awards. “  

For more information about the Awards and for details of how to attend the summit visit here.

Peyman Khosravani

Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.