Swift Hackathon 2023: Let’s innovate for a sustainable future
Financial institutions are increasingly required to measure ESG performance both for regulators and to demonstrate their sustainability credential to their customers, employees, investors and other key stakeholders. Yet challenges abound in measuring and tracking ESG performance, including inadequate and inaccurate data, multiple regulatory mandates, limited reporting standards, little transparency in investment ratings, and the list goes on. The industry is in clear need of more effective and harmonised ESG reporting solutions
That’s why for this year’s Swift Hackathon, we’re looking for data scientists, developers and ESG experts to align, design and develop solutions that advance ESG goals — all while challenging the status quo.
Harnessing responsible innovation to advance ESG in financial services
Companies are facing a two-fold dilemma: Increased pressures from regulators to deliver ESG reporting on the one hand, and the need to define ESG metrics and performance on the other.
As the industry works to find more ways to help firms integrate ESG risks and considerations into their processes, we’re asking developers, data experts and ESG innovators to help firms solve the ESG puzzle.
Teams of up to 10 can participate in the Hackathon. So, if you like to think outside the box, engage in a healthy dose of disruption and innovate with a positive purpose, we invite you to assemble your crew and join like-minded experts at this year’s Swift Hackathon.
And… the winners and runners up will have the unique opportunity to present their solutions to the world’s financial leaders at Sibos in September.
The Swift Hackathon 2023 challenges
Teams can register to take part in one or both of the following Hackathon challenges:
Challenge 1: Measuring ESG impact
How can we help institutions ease the process of assessing and mitigating a strategic initiative's ESG impact within a business?
In this challenge, teams will focus on developing solutions that allow businesses to have a comprehensive approach to measuring the ESG impact of a strategic initiative, as well as providing recommendations on mitigation actions to improve the ESG credentials of a project, where necessary. By doing this, banks and other financial institutions will be able to demonstrate a measurable, clear, and trusted commitment to ESG values, such as sustainable finance, while also creating long-term value for their stakeholders.
Challenge 2: Transforming ESG compliance
How can we help institutions improve the accuracy, efficiency, and transparency of ESG reporting to meet evolving regulatory and compliance requirements?
Teams will need to find solutions that can help banks and other financial institutions make the process of reporting ESG compliance more accurate and comprehensive. Leveraging AI to develop a solution that aggregates and analyses data from a range of sources, teams will need to support the end goal of increasing the accuracy and efficiency of ESG compliance reporting.
Hackathon Briefing Pack
In both challenges, participants should also strongly consider the impacts their solutions might have from a responsible AI perspective and an ESG standpoint. Read our Hackathon Briefing Pack to find out more about the theme, challenges and judging criteria, as well as a detailed timeline and FAQ.
7 reasons why you need to be a part of the Hackathon
- Help build a better future for the financial industry.
- Collaborate with some of the brightest minds.
- Inspire your team outside the typical workday.
- Elevate your leadership skills and boost your team’s visibility.
- Strengthen your communication and technical skills.
- Discover new connections with peers and engage with Swift experts.
- Highlight your company’s innovation prowess.
Key timings
- Registration opens: 22 June
- Participant registration and onboarding: 22 June – 28 July
- Registration closes: 28 July
Swift Hackathon schedule
- Participants briefing sessions: w/c 31 July
- Hackathon: 1-25 August
- Judging: 28-31 August
- Sibos Hackathon session: Thursday, 21 September
Registrations for this year's Hackathon are now closed. Join us at Sibos to find out the winners!
