Open Finance APIs: Access to Data and Insights That Enhance the Financial Wellness of Your Customers by Daniel Cook
Open Banking has been around a few years now and is powerful in the fact it enables an interface to be provided where someone can view their current accounts, credit cards, pension and mortgage all in one place. This is beneficial from a budgeting and financial management perspective. Moneyhub is a platform that connects to over 200 banking institutions to achieve this aggregation providing direct to consumer apps, a white-label proposition and APIs that provide a springboard for other companies to built their apps upon without having to worry about the underlying complexity of connecting to all of those banks. However, it provides so much more. The talk will focus on the insights provided through the Moneyhub API, as well as in-app, that enable a zen state of mind about your finances and how we use Data Science to achieve them. As a user I want to know if any of my accounts may go overdrawn due to a pending payment, the fact they’ve raised my telephone bill (again) or that my spend on sausage rolls is increasing exponentially. A little Recurrent Neural Net overview will be thrown in, in the context of cleaning messy transaction descriptions as no talk is complete without the mention of data cleansing.
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