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 the launch of
Race to the Future: The Open Finance PH Hackathon! We are inviting industry experts in technology, banking, and financial services to join this hackathon to showcase the innovative use cases enabled through Open Finance.
Race to the Future: The Open Finance PH Hackathon, taking place from July 15 to August 7, 2024, will serve as a collaborative event where BSP-Supervised Financial Institutions (BSFIs), FinTechs, third-party providers (TPPs), and other industry players can develop and showcase innovative proof-of-concepts (POCs) that will provide the industry with insights into the financial industry that can evolve with the adoption of an Open Finance ecosystem in the Philippines.
The hackathon is open to any team of 3-4 individuals applying as representatives of their institution. Individuals from different institutions may also form cross-institutional teams. Moreover, teams are to use the Open Finance API sandbox provided by the organizers for their POCs and must confine their project to the following Open Finance use cases:
1. Next-generation financial management;
2. Reducing barriers to MSME lending; and
3. Digital payments innovation.
The winning team will be awarded with a trip to the upcoming 2024 Singapore FinTech Festival in November.
For more details on these use cases and the event, please refer to the Welcome Deck
here.
Timeline
|
Date and Time |
Activity |
Description |
| 18 June 2024 | Start of registration
|
|
25 June 2024,
4:00pm to 5:00pm | Public webinar
| A public webinar open to all participants will be held to explain the hackathon details
and mechanics. Click
here to watch the recording
|
09 July 2024,
11:59pm
| Deadline of registration |
|
18 June to 11 July 2024
| Screening of applicants
| Applicants will be contacted by
hackathon@openfinanceph.org on whether
they have been accepted to the event
|
15 July 2024,
4:00pm to 5:00pm
| Virtual opening ceremony
and start of hackathon proper
| Virtual opening ceremony to kick-off the hackathon. Participants will be granted
access to the API sandbox on this date. |
26 July 2024,
11:59pm
| Deadline of hackathon submissions
| |
29 July to 01 August 2024
| First round of judging by BSP
| Applicants will undergo a first round of judging to determine whether they are
qualified to present their pitches on Demo Day
|
02 August 2024
| Invitation of teams qualified to Demo Day
| The BSP will be emailing top applicants to be invited to present on Demo Day
|
07 August 2024,
1:30pm to 4:00pm
| Demo Day
| To be held at the BSP Head Office in Malate, Manila
|
Registration Guidelines
Registration is now open and will end on July 9, 2024. Interested teams may register
here. Qualified participants will receive a confirmation email containing further details and instructions.
Join us as we unleash the power of Open Finance and create new customer experiences, revenue models, and industry ecosystems. Don’t miss your chance to be a part of this groundbreaking event!
