G20 TECHSPRINT

Welcome and thank you for your interest in the G20 TechSprint 2020

The Saudi G20 Presidency and the BIS Innovation Hub in Singapore have launched the G20 TechSprint, with the support of the Monetary Authority of Singapore (MAS), the Financial Stability Board (FSB), API Exchange (APIX) and the RegTech for Regulators Accelerator (R²A).

The G20 TechSprint seeks to showcase the potential for new innovative technologies to resolve operational problems in the areas of regulatory compliance (RegTech) and supervision (SupTech).

G20 TechSprint Journey

Eligible participants must register and submit proposals that would address one or more of the identified problem statements for this inaugural G20 TechSprint. Cash awards will be given for winning solutions.

Registration

Commences from 29 Apr 2020

Submit Proposals

Closing Date 27 May 2020

Participating teams submit expression of interest/proposals to one or more challenge statements.

Shortlisting

Dates 26 Jun 2020

Proposals will be reviewed and shortlisted by an independent panel of experts appointed by the G20 Saudi Presidency. Shortlisted participants will be invited to develop solution prototypes on the APIX platform.

Submit Solutions

Dates Jul-Aug 2020

Shortlisted solutions will be developed and submitted for evaluation on the APIX platform.

Evaluation

Dates Sep/Oct 2020

Evaluation and selection of award winners by independent judging panel commissioned by the G20 Saudi Presidency.

G20 TechSprint Problem Statements

In G20 TechSprint, members of the Financial Stability Board (comprising global regulators and supervisors) were polled to identify high priority areas in the fields of RegTech and SupTech. The following most compelling problem statements have been selected. Participants are invited to develop innovative solutions to address any of these problem statements.

Proposal submissions are closed.

Dynamic Information sharing for Supervisors and Regulators in Response to Crises

Can a technological solution be developed to facilitate the sharing of critical information among regulators and supervisors? Through the use of an application that sources both structured data and publicly available information that may be unstructured on a near real-time basis. The solution should offer a comprehensive overview of the measures undertaken within and across jurisdictions.

Proposal submissions are closed.

Monitoring and Surveillance

Monitoring anti-money laundering (AML) and combating the financing of terrorism (CFT) Risks: Crypto assets have garnered significant interest from the financial industry. However, AML/CFT risk in the crypto asset space has been a constant concern for regulators.

Proposal submissions are closed.

Regulatory Reporting and Ensuring Compliance

Regulatory reporting and ensuring compliance: With increasing digitalisation, are there upstream solutions and tools that would enable regulators to easily prepare and transmit machine-readable and machine-executable regulations to their regulated entities (i.e. codified regulations that are sent to regulated entities that would allow for regulatory data to be easily and autonomously mined and reported)?

Note: Proposals can be submitted from 29th Apr 2020 onwards. Participants are encouraged to submit their registrations and proposals early as a limit of 70 applications will be accepted for each problem statement and, after the limit is reached, applicants will be directed to other problem statements, and in the case all limits are reached, no further proposals will be accepted. Organisers will start to review and shortlist proposals as soon as they are submitted.

Prizes

An independent panel of judges commissioned by the G20 Saudi Presidency, comprising industry experts, academics and regulatory policy experts, will be appointed to shortlist and select the winning solutions.

Cash Stipend!

Shortlisted participants will receive a competition stipend per team provided by the Saudi G20 Presidency . This is to offset any expenses incurred as a result of participation in competition milestone events and development of solution prototypes.

US$ 50,000

Cash Prize!

Winning solutions to each of the G20 TechSprint problem statements will win attractive cash prizes awarded by the Saudi G20 Presidency.

Key Milestones

FSB members polled for RegTech/SupTech challenge statements

January – February

Global launch of G20 TechSprint

April

June – July

June – Shortlisted teams will be onboarded onto Innovation Community Platform (hosted by APIX)

July - TechSprint Touchpoint Development and Finetuning of solutions on Innovation Community Platform

October - Announcement of G20
TechSprint Winners

November

November - Winners Demo @ Singapore FinTech Festival in Singapore. Solutions of all shortlisted participants will also be featured in a special report.

NOTE : Depending on developments related to the COVID-19 pandemic, some of these milestones and dates may need to be revised.

Eligibility Criteria

01

We are looking for talented teams of developers & tech entrepreneurs. You should have relevant experience and a track record in developing innovative FinTech/RegTech/SupTech solutions and want to help build the next generation of central banking regulatory and supervisory technologies.

02

A shortlist of teams will be selected with the assistance of BFA Global/R2A. If your team is selected to compete in G20 TechSprint, you will have access to the Innovation Community Development platform, powered by the API Exchange (APIX). This is a cloud-based innovation platform with a custom-built sandbox environment which integrates required APIs with your solution prototype.

03

Shortlisted participants will be invited to a Touchpoint event in July 2020. The solutions and prototypes with the most potential will be chosen in September/October by an independent panel of experts commissioned by the Saudi G20 Presidency. The most promising team(s) will be invited to showcase its/their ideas at the Singapore FinTech Festival in November.

Frequently Asked Questions

Need help? Look here for answers to commonly asked questions.

We welcome all professionals, entrepreneurs and developers. Applications are open to all teams from all countries/jurisdictions interested in solving RegTech/SupTech problems and who have a proven ability and track record of delivery – whether that is writing software, designing beautiful user experiences, or product management. Shortlisted teams will need to demonstrate that they have a deployable and potentially scalable solution to a G20 TechSprint problem statement by the time of the final judging takes place.

If you are under 18 years of age, parental consent is required

For this competition, we are seeking production-ready and deployable prototypes. However, there is no commitment or expectation on the part of the organizers that the prototype will actually be deployed. Winning teams will have the opportunity to showcase their solutions during the Singapore FinTech Festival in November 2020.

Yes. We are seeking the best global solutions that will address the problem statements. A limit of applications will be accepted for each problem statement and, after the limit is reached, applicants will be directed to other problem statements, and in the case all limits are reached, no further proposals will be accepted. We will start to review and shortlist proposals as soon as they are submitted and, therefore, we encourage teams to submit their registrations and proposals as early as possible, well ahead of the submission deadline.

You can form a team to participate in multiple categories. However, we recommend that each team competes only in one problem statement category, as it will allow your team to focus on your area of strongest specialisation.

Your final application build should be integrated with the APIX community platform and should be made available to the judging panel via APIX. Consequently, the application must be registered in APIX and the app hosted in APIX. You will have to agree to the terms and conditions of the G20 TechSprint and the APIX platform’s user requirements at the point of registration.

No, hackathon teams do not have to be registered companies. Although not a stipulation, we anticipate that most teams will comprise around 5-6 members performing different functions to develop the working prototypes. Please take note that all shortlisted teams will be given a single stipend irrespective of the size of team.

Shortlisted teams will be given cash stipends. This is intended to offset any travel or development related expenses that may be required. During the G20 TechSprint competition, shortlisted participants will have access to the APIX innovation community platform.

Both the shortlisted teams and the final winning bids will be selected by an expert panel organized by the Saudi G20 presidency. The BIS Innovation Hub and other sponsors will not participate in the selection. In the final selection, one proposal will be chosen for each problem statement. Cash prizes will be awarded for each winning proposal in October 2020.

Yes, it is possible to participate through APIX, by allowing for virtual attendance.

Your final submission should be integrated with the APIX Platform and should be made available to the judging panel via the APIX Platform. You represent and warrant that you have all the necessary authorizations, permissions, licenses and agreements to participate in the G20 TechSprint and to all material uploaded to or developed on the APIX Platform, and that your participation in the G20 TechSprint and your submission of Solution(s) are in compliance with all applicable laws, rules and regulations.

You will retain the title, rights of ownership, or intellectual property rights of whatever nature in the solutions and any related information that you submit or develop on the APIX Platform in response to the Problem Statements. Notwithstanding the foregoing, in the event that a solution submitted by you is selected by the judging panel as a winning solution, you agree to present the solution during the winners’ demo in a manner and format agreed with the organizers, the Saudi G20 Presidency and BIS.

Do you still have questions? Please ask the APIX Community

The APIX community is an online forum that hosts discussions, exchange ideas and solve problems around finance & technology with members from all horizons: banks & fintechs, developers & business leaders, governments & NGOs from all continents.

Need help? Watch this video for navigating through registration or proposal submission