SA and BIS Launch G20 TechSprint 2025 to Tackle Digital Identity, Credit Data Portability, and Fraud Risks

South Africa, in partnership with the Bank for International Settlements (BIS), has officially launched the G20 TechSprint 2025, a global innovation challenge calling upon developers, fintech innovators, and technologists from across the world to deliver pioneering solutions to some of the most pressing challenges facing the financial sector today.

A Joint Innovation Initiative Under South Africa’s G20 Presidency

In a landmark year for South Africa, which holds the G20 Presidency in 2025, the South African Reserve Bank (SARB) and the BIS Innovation Hub have joined forces to host this year’s TechSprint. The challenge aligns with the themes and strategic priorities of South Africa’s G20 leadership – solidarity, equality, and sustainability – and seeks to harness the power of technological innovation to address issues of digital inclusion, SME financing, cross-border trade, and financial security.

Speaking at the launch in Johannesburg, SARB Governor Lesetja Kganyago emphasized the challenge’s ambition to deliver real-world impact:

“Innovation must drive inclusion, build trust, and deliver a lasting impact on our continent and across the world,” said Kganyago. “We believe that these challenges are not only globally relevant but also essential for economic advancement on the African continent.”

The Three Core Challenges: Digital ID, Credit Portability, and Fraud Prevention

This year’s TechSprint invites participants to submit solutions under three critical problem statements:

1. Digital Identity Solutions Innovators are challenged to develop verifiable, privacy-preserving digital identity systems that promote trust and seamless interaction between financial institutions, while protecting user data. These solutions are expected to be scalable and cross-border compatible, meeting both local and global financial regulatory needs.

2. Credit Data Portability The second problem statement targets the creation of consumer-consented credit data exchange systems that enable secure, cross-border credit information sharing. Such systems are vital to improving SME access to finance, particularly in emerging markets, by facilitating innovations like real-time credit scoring and workflow automation.

3. Fraud and Cyber Risk Mitigation With the rise of fast payment systems, the risk of fraud and cyber threats grows. This challenge seeks technologies that strengthen the security of digital transactions and promote financial inclusion by ensuring safer digital financial ecosystems.

Supporting Africa’s Economic Transformation and the AfCFTA

SARB’s Governor Kganyago also noted the relevance of these challenges to Africa’s digital transformation, especially under the African Continental Free Trade Area (AfCFTA) framework.

“We are looking for solutions that will bring more people into the digital economy and enable cross-border trade,” he said. The competition offers a valuable opportunity for developers to make a significant contribution to a digitally inclusive African economy.

G20 TechSprint: More Than Just a Competition

Agustín Carstens, BIS General Manager, highlighted the broader vision of the TechSprint:

“The G20 TechSprint is a collaborative effort to redefine the future of finance. Our collective challenge is clear: to develop scalable, adaptable, and inclusive solutions that reinforce trust and integrity across borders.”

Carstens emphasized that the competition reflects the need for international cooperation and innovation to overcome global financial system vulnerabilities and to build a sustainable digital future.

How to Participate: Registration, Timeline, and Awards

Developers, startups, fintech firms, and technology enthusiasts globally are encouraged to apply and showcase their ideas.

Participation Process:

• Registration and submission: Apply via the official platform at APIX G20 South Africa Hack

• Deadline: All proposals must be submitted by 20 June 2025.

• Development Phase: Shortlisted teams will enter an eight-week development sprint, during which they will receive feedback and mentorship from national and international experts.

• Awards: One winning solution per challenge category will be selected by an independent panel of judges, with each winner receiving USD 30,000. All shortlisted projects will receive a USD 5,000 stipend.

Winners will be officially announced in November 2025.

Key Dates and Resources

• Submission Deadline: 20 June 2025

• Development Sprint: 8-week period post-shortlisting

• Final Presentation and Awards: November 2025

• More Information: Visit resbank.co.za or bis.org

• Apply Now: Competition Page

The G20 TechSprint 2025 is poised to spark groundbreaking innovation and drive meaningful collaboration in shaping a more secure, inclusive, and integrated global financial system.