The application development competition, now in its second year, invites banks, corporates, consulting firms and fintechs to put their technical expertise to the test to help streamline trade finance operations.

Last year’s winner chosen out of more than twenty participating teams, developed a bank guarantee engine which has recently been launched in the corporate market. Other solutions were developed in the areas of risk analysis, regulatory compliance, data verification, anti-money laundering and know your customer using artificial intelligence, robotic process automation, blockchain and big data.

Companies are invited to enter by registering as either a team or an individual. The winning solution will get exposure to a range of Surecomp customers from global banks and corporates and will have the opportunity to pitch to a specially selected judging panel. Surecomp will be holding workshops to assist teams in their preparation for the virtual event, as well as offering mentoring and guidance during the hackathon itself.

“Our global hackathon provides a unique and fun opportunity for companies to think about the most pressing industry challenges and how they can be addressed with the help of API-driven technology,” explains Tsafrir Attar, Surecomp’s VP of Digitization. “Through collaborating and competing with industry peers, teams can showcase their digital expertise for the benefit of the broader trade community. Trade finance digitization continues to be top of mind, now more than ever before, and we are proud to be hosting and championing this innovation.”