TrustElevate gets through to the Global Open Finance Challenge semi-finals

“It’s a significant recognition of the power of TrustElevate’s service to securely and reliably enable critical elements of open banking. This achievement combined with our involvement in the Financial Conduct Authority’s regulatory sandbox, our alumni status of Accenture’s Fintech innovation lab and our engagement in Plug and Play’s Fintech lab underpins the importance of TrustElevate’s proposition for banks and fintechs,” said Dr Rachel O’Connell, CEO, TrustElevate.

Banks using the service can quickly, safely and remotely onboard young people to have their own bank account. This freedom affords them the opportunity to learn financial literacy and manage the billions of euro that is in circulation as pocket money in cash today.

“An added benefit of this exercise is realising that we can also help ‘grown up’ children who need to safeguard elderly parents from financial scams too. As a human authenticator, limits can be set on amounts spent to protect the elderly from the growing problem of online fraud.”