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OpenFin challenge

OpenFin challenge

Closing date xx xxxx xxxx

Barclays and OpenFin are committed to supporting all types of companies – from growing startups to established businesses that are shaping the future of financial services.

Rise, created by Barclays, a global network of cutting-edge FinTech workspaces, and OpenFin, the operating system that powers financial desktops, are partnering to support the next generation of Corporate Investment Banking FinTech companies. The partnership will combine the benefits of the OpenFin Operating System and the Rise ecosystem to find efficiencies for businesses and drive the financial services industry forward.

The Competition

Barclays and OpenFin are offering a unique opportunity that could take your business to the next level. We are seeking the best technology companies based in EMEA, that are focused on helping banks meet their clients’ needs. Does this sound like your company? If so, we welcome you to apply for the chance to benefit from a cash prize and receive support from Barclays and OpenFin. Eligibility criteria applies.

Challenges

There are many facets to changing the way banks meet their clients’ needs. We have identified six innovation areas that we are focusing on for this competition. If your technology aligns to one or more of these areas, we’re interested in hearing from you.

  • Visualisation of problems 
  • Notifications and alerts 
  • Client efficiency and communication tools 
  • Internal productivity tools 
  • Digital / Interactive assistants 
  • Workflow automation tools

Demo Day

All applications will be assessed and the top five submissions will be invited to participate in a Demo Day showcase, held at Rise London on 9 April 2020. An audience of industry representatives and innovators will hear pitches from the top five selected companies, followed by a networking session. A judging panel will be present and the best pitch will be announced following the presentations.

Prize

The top five FinTech companies will be eligible for XXX free months of an OpenFin Enterprise Edition license. The finalist will be awarded £20,000* (conditions apply, please see participant terms and conditions).

Who is eligible to enter?

Your business:

Stage:              Post-seed, revenue producing, receive less than £100 million in total financing to date, and have an annual turnover of less than £50 million

Focus:             Desktop applications for Capital Markets, M&A and/or Wealth

Residence:     EMEA

 

Your technology:

  • Must be a desktop-based application (web application or installed desktop app) or an application that generates insights via chatbots, alert or notification engines 
  • Existing customers of OpenFin can take part if they are building a new app that hasn't yet been exposed to the OpenFin environment 
  • Relevant to the Banking sector including Corporate Bank, Capital Markets, Prime Brokerage, Investment Banking (M&A), Asset and Wealth Management 
  • The application can be relevant for any corporate area of Capital Markets (Front Office, Compliance, Risk, Operations, etc.) 
  • XXX coming from API/back end service looking to move to UI

Competition Process Timeline:

Applications open:

Application deadline:

Application shortlisting:

Notification of top five:

Demo Day:

13 January 2020

xx xxxxxxx xxxx

xx xxxxxxx xxxx

xx xxxxxxx xxxx

9 April 2020

How to apply:

Please complete a pitch deck in PDF format and attach it to your application email explaining your offering and why it is relevant to this competition, and applicable to the challenge categories (please include; technology stack description, company financials, 2018 revenue, 2019 revenue, number of employees, etc.) Send your pitch deck and information to innovationchallenges@barclays.com.

Remember to include the following information:

About your company:

  • Legal name, country of residence and year founded 
  • Website URL 
  • Elevator pitch description in PDF format – please keep this to a maximum of five pages 
  • Stage of company: please confirm you are post-seed, revenue producing, receive less than £100 million in total financing to date and have an annual turnover of less than £50 million 
  • Please indicate which areas of innovation listed in the ‘Challenges’ section are addressed by your product (e.g. visualisation of problems, notifications and alerts, client efficiency and communication tools, internal productivity tools, digital/interactive assistants, workflow automation tools) 

About the founder(s):

  • Names, titles and links to biographies (or LinkedIn profiles) of senior team members 

About your clients:

  • Notable clients in the financial services industry who are actively using your product 

We look forward to receiving a diverse mix of applications from companies that are disrupting the financial services industry.

About Rise, created by Barclays

At Barclays, innovation is at the heart of what we do and how we think. By fostering a culture of innovation, we are helping shape the future of financial services to make a positive difference for our customers, clients and the societies in which we operate, and for Barclays as a whole. Established in 2015, Rise, created by Barclays, is a global network of cutting-edge workspaces based in the main FinTech hubs of the world. Rise is an exclusive place where FinTech startups and scaleups can connect, create and scale together with Barclays. Companies can apply to make Rise their home and, as a member, receive unparalleled access to mentorship, insights, guidance, events, and world-class facilities to accelerate their businesses. Today, there are more than 150 FinTech companies based at Rise, with a virtual community of over 7,500 members.

Rise is also home to the Barclays Accelerator, powered by Techstars, an intensive 13-week programme designed to fast-track the next generation of FinTech businesses, while also bringing innovation and application opportunities to Barclays. With help from Barclays, Techstars, and a team of high-level mentors, participating companies aim to evolve their business propositions and solve problems at the cutting edge of FinTech. With more than 170 alumni companies and 17 programmes completed to date, the Barclays Accelerator, powered by Techstars, is one of the largest single-bank-powered portfolios globally, with a current portfolio valuation of over $1.1 billion.

About OpenFin

Move Fast. Break Nothing. OpenFin is the financial industry’s operating system, enabling rapid and secure deployment, native experience and desktop interoperability. Used by the largest industry players through to the newest of FinTech innovators, OpenFin deploys more than 1,000 desktop applications to more than 1500 buy-side and sell-side firms.

OpenFin investors include Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, CME Ventures, J.P. Morgan, NYCA Partners, and Pivot Investment Partners among others. The company is based in New York with offices in London.

Terms and Conditions:

Official Rules published XXXXXXX 2020

  • I have read and agree to the Barclays Terms and Conditions (tick box) 
  • I have read and agree to the OpenFin Terms and Conditions (tick box)

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