Swift Hackathon 2024: Building the capital markets of the future
Calling all innovators, creative minds and tech enthusiasts across the industry and around the world – do you have what it takes to redefine post-trade transactions with cutting-edge solutions?
In the fast-paced capital markets, efficient and reliable post-trade processes are critical. And, as volumes grow, and the landscape becomes more complex, enhancing the speed, flexibility and accuracy of these transactions is essential for both market confidence and regulatory compliance.
By embracing new technologies and fostering the power of collaborative innovation, we can build the capital markets of the future together – and ultimately deliver faster, smarter, better services to our customers.
Can your idea transform the future of capital markets?
All of this is precisely why this year’s Swift Hackathon is bringing together innovative minds and the best tech experts in the business to address these pressing challenges and capture new opportunities.
Participating teams are invited to come together from across the world to develop creative solutions that contribute to the future of financial markets and foster innovation in post-trade.
Crucially, the winners and runners-up will have the opportunity to present their solutions on the Innotribe stage at Sibos this October.
Learn more about the Hackathon challenges and how to enter below. Entry closes on 15 August, so sign up now to reserve your team’s place. And good luck!
The Swift Hackathon Challenges
Teams can register to take part in one or both of the following challenges:
Challenge 1: Enhancing post-trade speed and accuracy
How can we improve the speed and accuracy of post-trade processes to ensure timely and zero-fail transactions?
Many transactions still face delays and errors due to manual steps. This challenge seeks innovative solutions to automate and streamline manual operations, aligning with global trends towards shorter settlement cycles.
In this challenge, teams will work towards the below objectives & considerations:
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Process automation
Teams will develop solutions to automate key post-trade activities, such as data entry and reconciliation, to reduce manual errors and speed up transaction times.
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Real-time accuracy
Teams will implement intelligent systems for real-time discrepancy detection and resolution, ensuring high accuracy and reliability in post-trade operations.
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Operational efficiency
Teams will design user-friendly interfaces and integrate predictive models to streamline operations, enhance user experience, and mitigate operational risks.
Challenge 2: Ensuring data privacy in tokenised trades
How can we ensure data privacy in the post-trade processing of tokenised assets while maintaining regulatory compliance and seamless integration?
This challenge is all about developing innovative solutions that leverage new technologies, solutions, and cryptographic techniques. These could include zero-knowledge proofs (ZKPs), new instruments and processes – such as Distributed Ledger Technology (DLT) – atomic settlement and tokenised assets – all of which can be used to ensure data privacy and confidentiality in the post-trade processing of tokenised assets within capital markets.
Teams will work towards the below objectives & considerations:
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Data privacy and security
Teams will leverage innovative techniques to ensure the privacy and security of tokenised asset data during post-trade processing.
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Interoperability
Teams will develop solutions that enable seamless integration with existing financial systems and blockchain networks.
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Regulatory compliance
Teams will ensure solutions align with global regulatory frameworks in the post-trade space and meet all compliance requirements.
The Hackathon Briefing Pack
In our Hackathon Briefing Pack you’ll find out more about the theme, challenges and judging criteria, as well as a detailed timeline and FAQs.
5 reasons why you should take part in the Hackathon
- Showcase your company’s innovation prowess to the global financial community
- Help build a better future for the financial industry.
- Inspire your team outside the typical workday.
- Elevate your leadership skills and boost your team’s visibility.
- Engage with Swift experts and bolster your company’s technical skills.
And for the winners? You’ll get the chance to present your solution on the Innotribe stage at Sibos (virtually or in person), and discuss potential opportunities for collaboration with Swift senior leaders.
Key timings
- Registration opens: 3 July
- Participant registration: 3 July – 15 August
- Registration closes: 15 August
- Teams shortlisted: 15 August – 22 August
- Hackathon opens: 2 September – 13 September
Ready to join?
Before you register, we’d like to highlight a couple of rules for Hackathon entries:
- Each team should consist of a maximum of 10 participants from a single company.
- Companies can register a team to complete in one or both challenges, however only one solution per team can be submitted for each challenge.
- Team registration will be split based on company size. Please ensure you select the correct registration relevant to the size of your company.
- Only five teams from each challenge will move onto the hackathon phase. This will be based on your proposal, which will form part of the registration process.
- Your proposal should give a short summary of the solution you plan to build. This includes a ‘problem statement’, ‘solution overview’ and a summary of why your team should be selected.
- Teams will then be selected to take part in the two-week hackathon, during which time they will build a prototype.
Register now on APIX, our new sandbox platform!
Swift Hackathon 2024: Building the capital markets of the future
