Open Innovation Platform

Open Innovation Platform is an integrated development environment that promotes a culture of innovation by partnering banks with selected FinTechs, RegTechs and InsureTechs through the Lean Agile Model.

Open Banking Platform allows to ideate, build, and publish applications that assist transcend business goals.

From generating ideas and mashing APIs to eventually building a MVP, the platform is a comprehensive tool that helps foster next-gen solutions using innovative, new open banking technology.

Open Innovation Platform by Virtusa xLabs enables to:

• Build MVPs to create unconventional revenue streams through new banking services
• Journey through an idea hypothesis to an MVP with measurable outcomes
• Utilize a strong catalogue of APIs and FinTechs to validate and develop MVPs
• Experiment in a risk-free environment
• Reduce time & cost whilst innovating.

Every element of this solution is underpinned by synthetic data set (10 mln customer records and 40 mln transactions) which replicates a bank's environment, enabling quick evaluation and regulatory compliance checks.