Open Bank Project

bankingtechnew core banking solutions

FOUNDING YEAR: 2012
LOCATION: Germany
Last Update: 16/03/2020

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About

The Open Bank Project is the leading API solution for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data.

MEDICI Analysis

The Open Bank Project provides an open source API for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data. It uses an enterprise ready technology stack and supports Internet protocols such as OAuth.

Focus

PRODUCTS & SERVICES

Banking API

REVENUE MODEL

Subscription

PRIMARY PROBLEM SOLVED

Open Banking Infrastructure Reach out to fintech ecosystem PSD2 Compliance in Europe

company provided insights

Traction

REVENUE

$0 - $99k

REVENUE COMMENT:

Revenue target not disclosed

TRANSACTIONS COMMENT:

Not relevant

ACTIVE USERS:

6000

ACTIVE USERS COMMENT:

The past year has seen a growing interest in open APIs in banking, notably triggered by PSD2 in Europe and the Open Banking Standard in the U.K. Download our Open Banking Report to learn more about this trend https://openbankproject.com/report/

People

NUMBER OF EMPLOYEES

1-10

INVESTORS:

ODI Startup Accelerator

COMMENT:

Our team has spent the last 3 years serving the financial service ecosystem through the Open Bank Project,the hack/make the bank hackathon series. The team includes senior executives with more than 75 years of banking experience & IT experience

Momentum

FUNDED

YES

DATE OF LAST FUNDING

Oct 2013

SEED CLOSED ON

Oct 2013

LISTED

NO

For Investors

FUNDING NEEDED:

€3 M

USES OF FUNDS RAISED:

1. 15% Marketing

2. 75% Personnel

3. 10% General & Admin

EXIT STRATEGY

Banks, Core Banking Vendor, IPO

MONTHS LEFT WITH CURRENT CASH BURN RATE:

18 months from 12 Jul, 2017

COMPETITORS:

Plaid

Yodlee

figo

Innovation Programs

BASICS

FOUNDING YEAR:

2012

LOCATION:

Germany

Views:

181 VISITORS | 319 VIEWS
TOTAL EMPLOYEES
1-10

About

The Open Bank Project is the leading API solution for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

The Open Bank Project provides an open source API for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data. It uses an enterprise ready technology stack and supports Internet protocols such as OAuth.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Open Bank Project

About

The Open Bank Project is the leading API solution for banks that developers and companies can use to build innovative applications and services based on the account holders transaction data.

Focus

PRODUCTS & SERVICES

Banking API, Sandbox, PSD2 API Platform

REVENUE MODEL

Subscription

TOP PROBLEM SOLVED

Open Banking Infrastructure Reach out to fintech ecosystem PSD2 Compliance in Europe

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

API Platform for banks with: - Full API Experienced white-labeled for banks - 130+ Standardised APIs including PSD2 APIs - 6500+ developers worldwide

KEY DIFFERENTIATORS

- Breath of APIs - Global FinTech Community - Security - Team has been working on banking APIs for 5 years

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

On-premises

White label

STRATEGIC CLIENTS AND PARTNERSHIP

BNP Paribas :

Société Générale :

Emirates NBD :

UniCredit :

Australian Payment Council :

People

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Simon Redfern

COO: Ismail Chaib

TEAM COMMENT:

Our team has spent the last 3 years serving the financial service ecosystem through the Open Bank Project,the hack/make the bank hackathon series. The team includes senior executives with more than 75 years of banking experience & IT experience

INVESTORS:

ODI Startup Accelerator

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES