ISO 20022 Hackathon

Teams

• Teams should be between 2-10 members. You can invite colleagues or friends to be part of a team.

Deadlines

• See Dates & Deadlines for important deadlines.

Building your solution

• Your solution can be (a) an improvement on your firm's existing products, taking advantage of ISO 20022 and APIs to deliver a better service overall, or (b) a new product, service or process.

• Your solution should be built within the time between the end of the first kick-off workshop (Thursday 11 / Friday 12 March depending on your timezone) and the deadline. It's up to your team how much time to dedicate to the hackathon within the build stage, but as this is a virtual hackathon we're trusting you not to start early.

• You may use any technology you choose, including open source libraries, proprietary software, cloud hosting and any other free or paid services via APIs.

• Once the first kick-off session ends, you will be able to submit your solution via the website. You can update and re-submit as many times as you want; the latest submission when the hackathon closes will be considered your final submission.

• You own the intellectual property you create during the Hackathon. We will showcase the winning solution but we won't publish your code. You are of course welcome to release your code e.g. via GitHub.

Judging of solutions

• Solutions will be judged on how effectively they take advantage of ISO 20022 and APIs, and the potential benefits of these applications if they were used more widely in the payments system (particularly cross-border payments).

• The judges will vote on proposals. The judges' decisions are final.

The ISO 20022 Hackathon(“ISO 20022 Hackathon”) is a joint initiative of the Bank for International Settlements (BIS) Innovation Hub (BISIH), acting through its Singapore Centre, and SWIFT. Participating teams in the ISO 20022 Hackathon(“ISO 20022 Hackathon Participants”) are invited to develop and showcase solutions to improve cross-border payments, using the ISO 20022 standard for payments messages and ISO 20022-compatible APIs (“Solutions”). The hackathon aims to help firms to prepare for upcoming ISO 20022 transformation.

Please note that the event is conducted and managed by a hackathon management platform provided by HackerEarth Inc. (“HackerEarth Platform”). For more information about the HackerEarth Platform (including HackerEarth’s privacy policy) please visit https://www.hackerearth.com/community-hackathons/

By continuing the registration as a ISO 20022 Hackathon Participant, you indicate your agreement to be bound by these ISO 20022 Hackathon Terms and Conditions (“Terms and Conditions”).
If applicable, these Terms and Conditions shall be understood in conjunction with the HackerEarth Website Terms of Use [ https://www.hackerearth.com/terms-of-service/ ], which regulate your use of the HackerEarth Platform. In the event of a conflict between these Terms and Conditions and the HackerEarth Website Terms of Use, these Terms and Conditions shall prevail.

If you do not accept these Terms and Conditions, you will not be able to participate in the ISO 20022 Hackathon. If you have any questions about these Terms and Conditions, please contact BISIH at iso20022hackathon@bisih.org.

Rules of the ISO 20022 Hackathon
The ISO 20022 Hackathon is governed by the following organizational rules: Details, deadlines and other rules of the ISO 20022 Hackathon will be published on the website http://iso20022hackathon.hackerearth.com/• Both the shortlisted ISO 20022 Hackathon Participants and the final winning Solutions will be selected by an expert panel organized by the BISIH and SWIFT (“the Panel”). The decisions of the Panel are final and may not be appealed. • Shortlisted ISO 20022 Hackathon Participants will be invited to develop prototypes that demonstrate how ISO 20022 and APIs can be used to improve cross-border payments. However, the ISO 20022 Hackathon Participant agrees and acknowledges that there is no commitment or expectation that the prototype will actually be deployed, in any way.

Your submission(s)
Your final submission should be made available to the Panel via the HackerEarth Platform. The submission must be registered in the HackerEarth Platform before the deadline published on the ISO 20022 Hackathon website [ https://www.hackerearth.com/terms-of-service/ ]. You represent and warrant that you have all the necessary authorizations, permissions, licenses and agreements to participate in the ISO 20022 Hackathon and to all material used, and that your participation in the ISO 20022 Hackathon and your submission of Solution(s) are in compliance with all applicable laws, rules and regulations. You will retain the title, rights of ownership, or intellectual property rights of whatever nature in the Solutions and any related information that you submit or develop. Notwithstanding the foregoing, in the event that a Solution submitted by you is selected by the Panel as a winning solution, you agree to present the Solution during the BIS Innovation Summit on 23 – 25 March 2021 and potentially other mutually agreed showcase platforms in a manner and format agreed with the BIS and SWIFT as the organizers of the showcase events. ISO 20022 Hackathon Participants participate in the ISO 20022 Hackathon at their own cost. You understand and agree that neither BIS nor SWIFT will reimburse any costs associated with your participation in the ISO 20022 Hackathon.

Indemnity
You agree to indemnify and hold BIS and SWIFT harmless from all claims, demands, actions, proceedings, liabilities (including statutory liability and liability to third parties), penalties, and costs (including without limitation, legal costs on a full indemnity basis), awards, losses and/or expenses, due to or arising out of: (i) any use of the HackerEarth Platform; (ii) your connection to the HackerEarth Platform; (iii) your participation in the ISO 20022 Hackathon; (iv) your submission of the Solution(s); (v) your breach of any terms and conditions of these Terms and Conditions; (vi) your violation of any rights of another person or entity, including intellectual property rights; or (vii) your breach of any statutory requirement, duty or law.

Amendment, suspension and termination

The BIS and SWIFT may at any time vary or amend these Terms and Conditions by posting the amended Terms and Conditions on the ISO 20022 Hackathon website. If you continue as a participant in the ISO 20022 Hackathon after such amended Terms and Conditions have been posted, you will be deemed to have accepted the amended Terms and Conditions. If you do not agree to the amended Terms and Conditions, you have the right to withdraw from the ISO 20022 Hackathon. BIS and SWIFT may discontinue the ISO 20022 Hackathon at any time and for whatsoever reason. You agree that BIS and SWIFT have the right at their sole and absolute discretion and without notice or liability to restrict, suspend, or terminate your participation in the ISO 20022 Hackathon, without assigning any reason. You are also responsible for ensuring that all persons who act on your behalf in the ISO 20022 Hackathon are aware of and comply with these Terms and Conditions.

Use of the names of BIS or SWIFT
You may not use the name “Bank for International Settlements”, “BIS”, “Bank for International Settlements Innovation Hub”, “BISIH” or an equivalent name or the logo of BIS for any other than internal purposes in any advertising, publicity releases, presentations, or publicly distributed documents, without the prior written consent of BIS. You may not use the name “SWIFT” or an equivalent name or the logo of SWIFT for any other than internal purposes in any advertising, publicity releases, presentations, or publicly distributed documents, without the prior written consent of SWIFT. Notwithstanding the foregoing, the ISO 20022 Hackathon Participants that submit the final winning Solutions may publish the fact of their participation in the ISO 20022 Hackathon, provided that it is never suggested that the Solutions are endorsed or recommended by the BIS or SWIFT.

Disclaimer
Neither the BIS nor SWIFT warrant or guarantee the accuracy, completeness or fitness for purpose of any information or material on this website. Under no circumstances shall the BIS or SWIFT be liable for any loss, damage, liability or expense suffered in connection with reliance by any person on any such information or material.

Governing law and dispute resolution
These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore, without giving effect to any principles of conflicts of law. Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in Singapore in accordance with the UNCITRAL Arbitration Rules for the time being in force. The arbitration shall be administered by Singapore International Arbitration Centre ("SIAC") in accordance with its Practice Note on UNCITRAL cases. The appointing authority shall be the President or Vice-President of SIAC Court of Arbitration. The number of arbitrators shall be one (1). The language to be used in the arbitral proceedings shall be English. Neither the submission of a dispute to arbitration nor any other provision of these Terms and Conditions shall constitute a waiver, express or implied, of the BIS privileges, immunities and exemptions in Singapore or any other relevant jurisdiction, which are specifically reserved.