July 08, 2024 - There's only one day left to register for the Race to the Future: The Open Finance PH Hackathon! This groundbreaking event, taking place virtually from July 15 to August 7, 2024, is your chance to be part of shaping the future of finance in the Philippines.
The Bangko Sentral ng Pilipinas (BSP), in partnership with the International Finance Corporation (IFC) and supported by the Government of Japan, is proud to announce this exciting opportunity.
What is Open Finance?
Open Finance allows secure sharing of financial data between banks and authorized third-party providers (TPPs). This opens doors for innovative financial products and services tailored to individual needs. Imagine managing your finances from a single platform, or getting loan approvals faster with easier access to your financial data.
Who can participate?
This hackathon is open to anyone! Teams of 3-4 individuals can apply, including:
- Industry experts in technology, banking, and financial services
- Representatives from BSP-Supervised Financial Institutions (BSFIs)
- Fintech companies
- Third-party providers (TPPs)
What are the challenges?
Teams will focus on developing solutions for three key Open Finance use cases:
- Next-generation financial management: Create tools for better budgeting, saving, and investment strategies.
- Reducing barriers to MSME lending: Develop solutions to streamline loan applications and increase access to credit for micro, small, and medium enterprises.
- Digital payments innovation: Design secure and efficient digital payment methods.
What's in it for the winners?
The winning team will be whisked away to the prestigious 2024 Singapore FinTech Festival in November!
How to register?
Registration closes tomorrow, July 9, 2024. Don't miss out! Sign up your team at [link to registration website].
Open Finance PH Hackathon Timeline:
- June 18, 2024: Registration Opens
- June 25, 2024 (4:00 PM - 5:00 PM): Public Webinar explaining the hackathon details and mechanics. ([link to recording])
- July 9, 2024 (11:59 PM): Registration Deadline
- June 18 - July 11, 2024: Screening of Applicants
- July 15, 2024 (4:00 PM - 5:00 PM): Virtual Opening Ceremony and Start of Hackathon (access to API sandbox granted)
- July 26, 2024 (11:59 PM): Deadline for Hackathon Submissions
- July 29 - August 1, 2024: First Round of Judging by BSP
- August 2, 2024: Notification of Teams Invited to Demo Day
- August 7, 2024 (1:30 PM - 4:00 PM): Demo Day at BSP Head Office in Malate, Manila
Join the Race to the Future!
This hackathon is a groundbreaking opportunity to shape the future of finance in the Philippines. Be a part of creating a more inclusive, innovative, and efficient financial system for everyone.