Sella Data Challenge: Banca Sella more and more open

Banca Sella, one of our corporate members, launched a challenge to gather new ideas and solutions. It’s called Sella Data Challenge and it’s addressed to all fintech startups and scale-ups that want to do open innovation. Doris Messina, Chief Digital Transformation Officer in Banca Sella, explains the reasons behind the initiative

What do you expect from this initiative and what are your main objectives?

Thanks to this initiative, we want to initiate a new way of co-creation with participants and identify fintech startups and scale-ups with which to develop partnerships for new products and data driven solutions. This is a part of the opportunities offered by open innovation and cross-fertilisation.

For the first time, the logic of open banking is being applied to data and it is precisely for this reason that we have chosen to make our data available through the Sella Data Challenge. We are sure that it will receive stimuli, ideas and solutions which together can build new solutions and new services to put on the market.

How does this “challenge” work?

We are inviting start-ups and scale-ups,in particular, to get involved and develop new solutions, starting from the analysis of customer data made available anonymously by Banca Sella on the “data sandbox:a real testing and development environment, consistent with privacy protection regulations, which allows you to view data that has been made anonymous and can then be used to carry out the desired analysis and consequent proposals.

The selected participants will have two and a half months, starting from mid-March 2021, to develop and present their idea through a working prototype, a demo, an application or simply a “proof of concept”.

This initiative should be contextualised within Banca Sella’s overall strategy. Which one?

The Sella Data Challenge is an integral part of our innovation path: it is impossible to innovate only from within and what will make the difference in the future are the partnerships within the fintech ecosystem. Contamination and collaboration are now, more than ever, the key to fast, agile and effective innovation. Open Banking is proving this because it actually leads to an exponential increase in the potential of financial players to make the best use of data and technology.

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Author: Tudor Sava

10 Marzo 2021