Meta-banking Project. International BNPP Hackathon

This weekend I was lucky to participate in biggest financial services hackathon organized by BNP Paribas. Together with Samy Geizenblozen, Kim Dauthel and Pierre Paperon we developed a Babel Bank application for efficient cash management and balance optimization.

We targeted international companies that have multiple accounts in different banks, currencies and countries and face the complexity of cash and account management. The amount of created accounts raised to more than 700 over the last 5 years, thus the challenge is becoming more and more complicated. The world is becoming global so we need a holistic approach to solve this issue.

Here we introduce you our solution - Babel Bank. It is a simple tool for accounts aggregation based on PSD2 open bank API.

It does automated cash transfer between the accounts based on prediction algorithm, that analyses the transaction history and transfer money if needed.

Secondly, we introduced crypto-currencies on the platform so the users can buy, sell and exchange the crypto- on flat- currencies and vice versa.

The role of crypto-currencies is very important. It is becoming more and more maintstream: market capitalisation showed that the increase in value from 3B dollars mast year up to 100B dollars this week, not telling about the fact that the market price of bitcoin is augmenting insanely and some people already have increased their investments significantly. Moreover, it provides users with low transfer fees and capability to exchange crypto-currencies all over the world in a few hours.

By doing this, we are enlarging our scope to worldwide level, working in 3 dimensions: accounts, countries and currencies.

With Babel Bank, your cash is fluent in countries, currencies and accounts. We strongly believe in successful future of meta-banking project that will broaden the scope to worldwide level and facilitate the cash management system.

For more detailed information, check our white paper, available on demand

To sum up, I would like to thank everyone who organised this great event. See you on the next hackathon!