G20 TechSprint 2025 in focus: Developing solutions that build trust and integrity in finance
By Ayn du Bazane | June 2025
Ayn du Bazane | Senior Fintech Analyst, South African Reserve Bank. Chair of the IFWG Crypto Asset Regulatory Working Group and Co-Lead of the IFWG Regulatory Sandbox
Under the South African G20 Presidency, the South African Reserve Bank (SARB) and Bank for International Settlements Innovation Hub (BIS IH)
launched the 2025 G20 TechSprint on 6 May 2025. In its sixth edition, this year's G20 TechSprint is focussed on fostering 'Trust and integrity in scalable and open finance'.
So, what is a TechSprint?
TechSprints are time-bound events designed to address specific challenges by leveraging technology, co-creation and collaboration. In other words, they are fast-paced, problem-solving initiatives where diverse teams come together to brainstorm and develop innovative digital solutions within a limited time frame.
Why a TechSprint?
TechSprints offer several advantages over other types of experimentation methods for fintech. Firstly, because techsprints are centred around specific pain points, they are goal-oriented and problem-driven. This focus yields concrete, usable outputs.[1]
By bringing together a multitude of diverse stakeholders- e.g. regulators, startups, established financial institutions, developers, academics, and policy experts- who may not usually collaborate, techsprints allow for cross-sector collaboration. This is particularly powerful in fintech, where compliance, innovation, regulation and technology need to be closely aligned. This means that the solutions developed consider both technical feasibility and regulatory acceptability from the outset. A characteristic not always achieved through isolated pilots and experimentation.
[2]
Additionally, the time-bound nature of techsprints generally lends itself to generating rapid prototypes and actionable insights faster. This is particularly beneficial for fintech, where speed is critical. Controlled environments with regulatory oversight and input allows for bolder experimentation and reduced risk. Finally, a more understate advantage relates to the community building and ecosystem growth that techsprints offer.
[3] Smaller players access networks and gain visibility, which is often difficult in traditional sandbox or incubator settings. While regulators gain market intelligence on both innovating firms and practical insight into how advanced technology can be used.
G20 TechSprint
The G20 TechSprint is an annual joint initiative between the G20 Presidency and the BIS Innovation Hub and seeks out the best technological innovations from around the world to address common challenges and focal priorities of the global regulatory and central banking community.[4]
The diagram below summarises the last five iterations of the G20 TechSprint.
Source: Bank for International Settlements
2025 G20 TechSprint
The 2025 G20 TechSprint calls for innovative solutions to address three problem statements aimed at enhancing trust and integrity in scalable and open finance. These are:
(1) verifiable, privacy-preserving digital identity solutions;
(2) consumer-consented and secure credit data portability; and
(3) technology solutions for fraud and cyber risk mitigation specifically for fast payment systems.
A closer look at the significance of the problem statements
Firstly, verifiable, privacy-preserving digital identity solutions are critical for trust and integrity in the global financial system because they enable secure, user-controlled sharing of sensitive data across diverse platforms. In open finance, where financial data flows between banks, fintechs, and third parties; the risks of fraud, misuse, and privacy violations are high. Ideally, identity solutions would allow users to prove who they are and control what information is shared, without revealing unnecessary personal details.
By ensuring that identity is both authentic and minimally exposed, these systems could reduce the risk of identity theft, strengthen compliance with data protection regulations, and build user confidence. For financial institutions and regulators, they provide a foundation for secure interoperability and accountability, essential for a functioning open finance ecosystem.
The second problem statement, consumer-consented and secure credit data portability (or exchange) is focussed on ensuring that individuals and micro, small and medium Enterprises (MSMEs) have control over who accesses their financial data, how it is used, and for what purpose. When consumers explicitly authorise the sharing of their credit data, it strengthens transparency and accountability—key pillars for trust.
Security in the exchange process protects sensitive information from breaches or misuse, reinforcing the integrity of the system. Secure data exchange mechanisms ensure that sensitive financial information is protected from breaches or misuse, which is vital for building confidence in digital financial services. For consumers, this means safer access to tailored credit products and for SMEs, it opens up fairer financing opportunities by enabling them to share verified data with alternative lenders or fintechs. Ultimately, trusted data-sharing frameworks create a more inclusive, competitive, and resilient financial ecosystem. Together- consent and security - enable innovation without compromising privacy or fairness, allowing consumers to benefit from more personalised financial services while maintaining confidence in the finance ecosystem.
Third and finally, finding technology solutions for fraud and cyber risk mitigation in fast payment systems fosters trust and integrity both domestically and across borders. As real-time payments grow, so does the potential for instant fraud and security breaches. Advanced technologies—such as AI-driven fraud detection, biometric authentication, and end-to-end encryption— could help identify and block suspicious activity in real time, without slowing down legitimate transactions.
In the context of open finance, where data and money flow quickly across multiple platforms and jurisdictions, these safeguards are crucial. They not only protect consumers and businesses from financial harm, but also uphold the credibility of the system, enabling broader participation and cross-border collaboration with confidence.
The 2025 G20 TechSprint is more than a competition—it's a global call to action. Whether you're a builder, thinker or innovator with a vision for open, trustworthy financial systems, these problem statements offer a rare opportunity to make an impact at scale. If they resonate with you, apply. If they remind you of someone in your network, share. Applications close on 20 June 2025. More information is accessible on the
SARB website.
[1] https://www.fca.org.uk/publication/research/fostering-innovation-through-collaboration-evolution-techsprint-approach.pdf
[2] https://www.garp.org/risk-intelligence/technology/regulators-are-off-to-the-tech-races
[3] https://www.fca.org.uk/publication/research/fostering-innovation-through-collaboration-evolution-techsprint-approach.pdf
[4] https://www.bis.org/about/bisih/topics/suptech_regtech/techsprint.htm
Disclaimer: As the IFWG we are enthusiastic to include diverse voices through our media content. The opinions of participants do not necessarily represent the views of the IFWG and their respective organisations.
