The Bank for International Settlements (BIS) and the South African Reserve Bank (SARB) launched the sixth edition of the G20 TechSprint focused on developing innovative solutions to promote integrity and trust in finance. The G20 TechSprint is an international competition to explore innovation and develop cutting-edge technological solutions to pressing global challenges. Following the success of the previous competitions in the areas of regulatory compliance and supervision, green and sustainable finance, central bank digital currencies , cross-border payments and solutions to support the UN Sustainable Development Goals, this year’s TechSprint will focus on three problem statements, as formulated by the BIS Innovation Hub and SARB: Digital identity solutions: Establish trust among financial institutions through innovative, verifiable and privacy-preserving digital identity technologies. Credit data portability: Improve the ability of small and medium-sized enterprises to access finance through secure, consumer-consented data exchange solutions that facilitate seamless cross-border sharing of credit information. Solutions to mitigate fraud and cyber risks: Drive the wider adoption of fast payment systems globally – and consequently promote financial inclusion and economic growth – through technology designed to reduce fraud and cyber risks. Agustín Carstens, general manager of BIS said, “The G20 TechSprint is more than a competition. It is a collaborative effort to redefine the future of finance. Our collective challenge is clear: to develop scalable, adaptable and inclusive solutions that reinforce trust and integrity across borders. The themes of South Africa’s presidency – solidarity, equality and sustainability – should inspire us to break down barriers and forge partnerships that have lasting global impact.” “Innovation must drive inclusion, build trust and deliver a lasting impact on our continent and across the world. We are looking forward to solutions that will bring more people into the digital economy and enable cross-border trade,” said SARB governor Lesetja Kganyago. The G20 TechSprint 2025 is open to developers from around the world. Shortlisted teams will be invited to develop their solutions over an eight-week period and will have an opportunity to showcase them and receive feedback from national authorities and invited experts. An independent panel of experts will choose one winning solution for each problem statement, to be announced by November. The winners for each category (problem statement) will receive an award of $30,000. All short-listed projects receive a stipend of $5,000. Re-disseminated by The Asian Banker
