OVERVIEW

​The OpenFinity FDX API Hackathon is a dynamic event aimed at bringing together innovators, developers, and business visionaries to create groundbreaking business cases for the financial industry. The focus is on taking advantage of the Open Banking APIs built on the FDX Specification to craft solutions that redefine the customer experience and drive new opportunities for retail and commercial banks.

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No coding or development required—just a business case that could include mock-ups or UX design. By participating in this fun event you will engage with colleagues from diverse perspectives, foster cross-functional connections and expand your professional network.

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HACKATHON MISSION : THE 'ART OF THE POSSIBLE'

Create a business case solution for bank's, credit union's customers or fintech that delivers differentiating capabilities, enabling the institution to acquire and retain more customers, explore new business channels and innovate.

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HOW MUCH SHOULD I INVEST?

This is typically a 2-day investment only as if you were doing it onsite. Because the hackathon is virtual, you can spread these 2 days across several weeks. We don't need a finished product, just a demo and use case presentation.

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HOW TO PARTICIPATE?

• Participation is free.

• Everyone can participate. You do not have to be an FDX member.

• The Hackathon is limited to a maximum of 20 teams made each of up to 5 team members.

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WHO SHOULD JOIN?

Developers, business professionals, financial institutions, banks, credit unions, CUSOs, fintech enthusiasts, academia and anyone passionate about open banking, open finance and AI innovation.

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IMPORTANT DATES & TIMING

• February 12, 2025: Registration Opens on the OpenFinity website(*). Enroll Now.

• April 23, 2025: FDX Summit coaching session - meet us at the FDX Summit if you want to discuss your use cases and receive feed-back/coaching

• April 24, 2025: Registration Closes

• April 28, 2025: Hackathon Kick-off - watch for your invite to join the kick-off meeting and get your credentials to access the FDX API sandbox

• May 14, 2025: 'Shark Tank' Presentations begin during OpenFinity days in NY (Time TBD)

• May 15, 2025: Awards Ceremony (Team member must be present to win) - Ends of Hackathon and access to FDX API Sandbox

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   (*): participants must be registered to access the FDX API Sandbox

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AWARDS & RECOGNITIONS

All participants receive free entry to the OpenFinity days conference in NY on May 14-15, 2024 as part of their registration. Upon registration to the Hackathon, participants will receive a coupon code to get their free ticket.

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To be eligible to win and receive their reward, each team must be present at the OpenFinity days conference on May 14 in NY to present their use case in front of the Jury, and on May 15 to receive their award.

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• 1st Prize: up to $10,000 credit offered by the Financial Data Exchange (FDX) against a new or renewal FDX membership. If the renewal or new membership is less than $10,000, the credit will be equal the lower cost of such membership. Use case featured in the FDX and OpenFinity website. A reserved seat to speak at the FDX and OpenFinity next virtual event.

• 2nd Prize: up to $5,000 credit offered by the Financial Data Exchange (FDX) against a new or renewal FDX membership. If the renewal or new membership is less than $5,000, the credit will be equal to the lower cost of such membership. Use case featured in the FDX and OpenFinity website. A reserved seat to speak at the FDX and OpenFinity next virtual event.

• 3rd Prize: Use case featured in the FDX and OpenFinity website. A reserved seat to speak at the FDX and OpenFinity next virtual event.

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USE CASES SUGGESTIONS​​

Participants are free to propose any use cases they wish, as long as it is about open finance, and the FDX APIs. The 3 following topics are however proposed as suggestions:

• PFM: Personal Financial Management

• Financial Inclusion

• Commercial

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DO I HAVE TO GO SOMEWHERE TO PARTICIPATE IN THE HACKATHON?

No. This is an online contest and you can participate from anywhere. As long as you have a reliable internet connection, you’ll be able to participate. However, you must be present in NY on May 14-15, 2025 to present and win a prize.

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TOOLS & RESOURCES PROVIDED

Participants will have access to:

• The FDX's Sandbox: Includes fictitious banks for testing and experimentation. If you are not an existing FDX Member, access to the FDX API specification is contingent on your organization’s agreeing to the FDX terms & conditions and FDX API License Agreement. You will need to register as an FDX Observer (which is free) [here].

• Developer Portal: Full access to the FDX APIs and developer resources.

• API & AI Technologies: Participants are free to use and integrate any API & AI tools or platforms of their choice. The use of AI is not an obligation for the hackathon but would be however a great opportunity to test the combination of open finance and AI.

• Participants must provide and use their own equipment, and bring their own laptop at the May 14-15 presentation and award ceremony.

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​​REQUIREMENTS & PRESENTATION GUIDELINES

• FDX APIs Usage: All solutions must assume that their business case is based on the FDX APIs.

• Solution Presentation: Each team will have 10 minutes max to pitch their business case (PowerPoint format) in a Shark Tank-style format. Focus on both the business value and technical execution of your solution. Teams must bring their own laptop to present their use case.

• Team Composition: Teams of 3 to 5 members. Participants can have varied skills ranging from business strategy to technical expertise.​

• Download the Hackathon pitch deck template here.

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​​​​WINNING CRITERIA & JURY

• Presentation: (10 points) How clearly and persuasively the team communicates the solution’s concept and value.

• Business Value: (10 points) The potential impact of the idea on financial services, consumers, or partners.

• Competitiveness: (10 points) How innovative or strategically differentiated the idea is within the open banking landscape.

• Feasibility: (10 points) How realistic is the business case in terms of adoption by financial institutions, regulatory compliance, or integration with existing infrastructure.

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The Jury will be made of banking and open finance industry experts. Names will be published later.

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​HACKATHON PARTICIPATION TERMS

All participants are required to adhere to a basic set of Hackathon rules and terms. Those terms and rules are detailed in the OpenFinity Hackathon Participation Terms document. By participating in the Hackathon, your company or organization (“Company”) agrees to adhere to these terms.