Over recent weeks more than 60 developers have been competing in teams in the 2020 Sibos Hackathon to deliver a solution which unlocks the power of data in financial services.</p> The teams, this year contending with the additional challenge of collaborating remotely, bring together representatives from different fintechs, banks and financial institutions from around the world.</p> The Hackathon is split over three categories, each exploring how leveraging advanced analytic technologies such as machine learning and deep learning can deliver better customer outcomes and solve industry challenges.</p> The finalists have now been confirmed as:</p> Category 1: Managing risk & financial crime</strong></p> Finalist: </strong>Team 3 - The team explored how to improve cybersecurity for SWIFT member banks by providing a Payment Messaging Traffic Screening Tool, which alerts security officers/cybersecurity teams of abnormal FIN messages, the message type (MT) that transmits financial information from one financial institution to another. </p> Ashwin Naidu, Citi</li>Yauheniya Shynkevich, Clearstream | Deutsche Boerse Group</li>Cynthia C. Lima, Itaú</li></ul> Finalist:</strong> Team 7 - The team explored how to improve the detection of financial crime in line with MT202, the message that informs each of the banks in the chain of the payment amount, currency and recipient bank by leveraging trailblazing input vectors and applying machine learning models.</p> Wiebke Raithel, Deutsche Bank</li>Delf Tonder, Elucidate</li>Ruoxuan Li, ING</li>Yannick Bruyninckx, SWIFT</li></ul> Category 2: Transforming customer experience</strong></p> Finalist:</strong> Team 13 - The team explored how to protect consumers from making card payments to fraudulent merchants/recipients by leveraging advanced analytics on publicly available data sources and semantics. </p> Amit Shekhar, CGI</li>Huw Jeffries, ClearBank</li>Anthony Nathan, Standard Bank</li>Rawan Alsabe, SWIFT</li></ul> Finalist:</strong> Team 15 – The team explored how to optimise cross-border payments to improve liquidity for corporate treasurers using payments data and advanced analytics.</p> Joseph Tomlinson, ClearBank</li>Kirill Gerasimov, Deutsche Bank</li>Syed Naina, Finastra </li>Siya Mchunu, Standard Bank</li></ul> Category 3: Fostering financial inclusion</strong></p> Finalist:</strong> Team 16 - The team explored how to reduce the cost of FX cross-border payments for small to medium-sized businesses by enabling banks to offer suspended accounts with stabilized FX rates.</p> Jasvinder Singh, Helixtap</li>Ka Wai Ivan Tsui, HSBC</li></ul> Finalist:</strong> Team 18 – The team explored how we might use extended personal payment history data, such as utility payment history, to provide better credit lending to the financially excluded.</p> Kareem Zedan, ClearBank</li>Thorsten Henrich, Clearstream | Deutsche Boerse Group</li>Philip Crisp, Finastra</li></ul> Don’t miss the live final</a> at 17.45 CET on Thursday 8 October, where the teams will compete to convince the judges that their solutions are worthy winners of this year’s Sibos Hackathon.</p>