Press Coverage


£5m prize fund launched to help de-stress ‘stifled’ SMEs

Date: 26 April 2017

It is an irony that research has shown that one in five small business owners strike out on their own to cut stress, but one in three say dealing with business finances is their biggest source of it.

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Why open banking is the next frontier for financial innovation

Date: 13 April 2017

With the EU’s Second Payment Services Directive (PSD2) and the UK’s open banking framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty.

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Charity reports finds ‘stress of financial paperwork’ is making small business owners people ill

Date: 8 April 2017

Small businesses’ growth could be stifled because of the burden of financial administration, a study says. The report – for business innovation charity Nesta – found that 42 per cent of entrepreneurs say dealing with finances is the most stressful aspect of running a company. And 17 per cent add that the stress has made them unwell.

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How small businesses can gain control of their finances

Date: 30 March 2017

According to new research from Nesta, the innovation charity, 40pc of British entrepreneurs have admitted that managing their finances and banking has become the most stressful part of running their business.

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Here’s why open banking tools should target small businesses

Date: 24 March 2017

While there’s been a lot recent interest in the benefits of open banking, much of the discussion so far has centered only on consumers.

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Nesta to bring £5m ‘Open Up Challenge’ prize to Leeds

Date: 24 March 2017

FinTech North and Nesta, the innovation foundation, have announced that the recently launched ‘Open Up Challenge’ for FinTech entrepreneurs will be showcased during Leeds Digital Festival on 26th April 2017.

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£5m banking technology challenge arrives in Manchester

Date: 24 March 2017

A £5m “Open Up Challenge” is coming to Manchester, to get the city’s FinTech and data science communities to transform small business banking.

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Open APIs to shake up small business banking market

Date: 23 March 2017

Chris Gorst, Challenge Prize Lead at Nesta, explains the motivations and ambitions behind the innovation agency’s £5 million prize Open API fund, which opens for applications today.

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A Banking Revolution For Small Business – UK’s Nesta Challenges Fin Tech To Step Up To The Plate

Date: 17 February 2017

Small business banking in the United Kingdom is about to undergo a radical shake-up, driven in part by pressure from the competition regulator.

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Date: 15 February 2017

UK Banks Fund £5m Fintech Prize to Build Apps for Small Businesses

Innovation foundation Nesta is launching a £5 million prize fund to inspire the creation of apps and tools to help small businesses compete in the digital economy.
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Date: 15 February 2017

Britain can Lead World in App-based Drive to Change Face of Banking

Open banking could be a game changer for the way individuals and businesses manage their finances and, if the UK plays its cards right, it could be a world leader in the field.
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Date: 15 February 2017

Nesta Calls for SME Innovation with £5m Prize Fund

Ideas to help small businesses, according to Nesta, could include comparing loan offers; analysing transaction history; moving money around automatically; and help with predictions and cash flows.d.
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Date: 15 February 2017

Nesta launches £5m SME banking challenge

Innovation foundation Nesta has launched the Open Up Challenge, a £5 million prize fund to inspire the development of new banking services, apps and tools for the UK’s five million small businesses.
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Date: 15 February 2017

Nesta launches £5 million Open API challenge

UK innovation agency Nesta has launched a £5 million prize fund to inspire the creation of new products and services using Open Banking APIs.

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