ISO 20022 Hackathon

The era of API-enabled data-rich payments has arrived! Payment systems, service providers, global networks and forward-thinking corporates are adopting the ISO 20022 message standard, ushering in a new world of possibility for domestic and cross border payments. Data-rich payments will help streamline compliance processes, automate back-office processing, enable new business models, and ultimately make cross-border payments cheaper, faster and more transparent for all.

 

The ISO20022 Hackathon, hosted by the BIS Innovation Hub and SWIFT, invites participating teams to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard for payments messages and APIs. Whether you are a bank, a fintech, payment service provider or corporate, this event will give your team a head start in preparing for and showcasing innovative solutions for the upcoming ISO 20022 transformation through:

• A masterclass with the ISO 20022 & API leads from cross-border payment network SWIFT. Tom Alaerts, a SWIFT ISO 20022 expert, will explain the benefits and requirements to adopt the standard in retail and wholesale payments and highlight the essential elements for use in payments. API experts from SWIFT will also cover how to use best-practice standardised APIs.
• A deep-dive with Magnus Lageson of Swish, the ISO 20022-based mobile payments app which is used by more than 75% of all Swedes. Magnus will explain how to build with ISO 20022 from a developer’s perspective, and highlight the benefits for consumers and end-users.
• A 7-day virtual Hackathon that will give teams the chance to apply ISO20022 and APIs to address opportunities in cross-border payments. Teams can adapt their existing product to make use of ISO 20022 or build and demonstrate new solutions leveraging ISO 20022 and APIs.

 

Three winning teams will:

• showcase their solutions at the BIS Innovation Summit (a global virtual conference from 22-25 March).
• be featured in an interview for Sibos.com, which will be promoted through Sibos social media in Q3 of 2021. (The annual Sibos conference, organised by SWIFT, brings together thousands of business leaders, decision makers and topic experts from across the financial ecosystem.)