G20 TechSprint 2023 - Transforming cross border payments

The fourth and 2023 TechSprint is a joint initiative between the BIS Innovation Hub and Reserve Bank of India.

Following the success of the three previous competitions in the areas of regulatory compliance (regtech) and supervision (suptech), green and sustainable finance and central bank digital currencies (CBDCs), the 2023 TechSprint focused on three problem statements on cross-border payments formulated by the RBI and the BIS Innovation Hub:

• Technology solutions to reduce illicit finance risk around anti-money laundering, countering the financing of terrorism and sanctions.
• Foreign exchange and liquidity technology solutions to enable settlement in emerging market and developing economy currencies.
• Technology solutions for multilateral cross-border central bank digital currency platforms.

An overview of the Techsprint and the 21 finalists can be found in this report.