Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.
The BIS Innovation Hub is inviting banks, fintechs and corporates involved in payments to participate in the ISO 20022 Hackathon, hosted jointly with SWIFT.
Over a 7-day virtual Hackathon, participating teams will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard for payments messages and APIs.
They can adapt their existing products to make use of ISO 20022, or build and demonstrate new solutions leveraging ISO 20022 and APIs.
Firms interested in participating can register here by 8 March.
When registering, firms are asked to mention the payments pain points they want to address during the hackathon, such as sanctions checking, AML & identity, invoice reconciliation, and message translation.
Participants will be invited to join kick-off sessions on 11-12 March.
All solutions must be submitted by 19 March.
Judges from NPP Australia, Innovate Finance, the Federal Reserve Bank of New York, Payments Canada, Bank of England, European Central Bank, 20022 Labs, CPMI ,Swish, DBS Bank, and SWIFT will select three winning teams.
Winning teams will present their solutions at the BIS Innovation Summit on 23-25 March.