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.
It 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 cutting-edge 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
Emirates NBD has been happy to partner with Virtusa to debut the first API Sandbox by a UAE Bank. This collaboration has enabled us to offer the right tools for enterprising FinTechs and developers who can now turn their creative ideas into real working prototypes, which we would then test with real customers. We aim to accelerate innovation to continuously bring new and differentiated experiences to our stakeholders.
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.