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The Reserve Bank of India (RBI) and the Bank for International Settlements Innovation Hub (BISIH) have launched the fourth edition of the G20 TechSprint, a global technology competition to promote innovative solutions aimed at improving cross-border payments. Developers from around the world should submit application from May 04, 2023 to June 04, 2023 and the TechSprint will conclude around August/ September 2023. The 2023 TechSprint will focus on AML/CFT/Sanctions technology solutions to reduce illicit finance risk, FX and liquidity technology solutions to enable settlement in emerging market and developing economy (EMDE) currencies, and technology solutions for multilateral cross-border CBDC platforms.

The New York State Department of Financial Services announced a techsprint initiative to convene regulators and industry stakeholders to work towards a common goal of Digital Regulatory Reporting, which aims to give regulators instant access to data provided by firms under their supervision. The techsprint's first area of focus is virtual currency companies due to their advanced digital capabilities operating in this space. This techsprint will be the first of its kind in the virtual currency space.

TechSprints are typically 2 day events that bring together participants from across and outside of financial services to develop technology based ideas or proof of concepts to address specific industry challenges. These events help us to shine a light on issues and expand the discussion and awareness of potential solutions.

The G20 and the Bank for International Settlements Innovation Hub launched the G20 TechSprint Initiative to highlight the potential for new technologies to resolve regulatory compliance (RegTech) and supervision (SupTech) challenges. The BIS Innovation Hub published high-priority RegTech/SupTech operational problems and invited private firms to develop innovative technological solutions. The problem statements identify challenges in regulatory reporting, analytics, and monitoring and supervision, and have been developed from submissions received from Financial Stability Board member jurisdictions.

The Bank for International Settlements Innovation Hub (BISIH) updated on progress made on the G20 TechSprint initiative launched in April 2020, following an August 6-7 event among 20 shortlisted teams (selected from a pool of 128 submissions from 35 countries). The teams were given an opportunity to demonstrate their solutions to a panel of independent judges and receive feedback before the final judging, scheduled for October 2020. The judging panel includes private and public sector experts in the field of financial sector data and technology.

The Bank for International Settlements (BIS) announced the three winners of the G20 TechSprint challenge. The hackathon-style competition was launched in April 2020 to highlight the potential for technology to resolve regulatory compliance (regtech) and supervisory (suptech) challenges. The winners, chosen by an independent panel of experts, addressed one or more of its three problem topics. FNA won the dynamic information-sharing category for their solution FNA Platform for Dynamic Information Sharing and Real-Time Analytics, Tookitaki won in the monitoring and surveillance category for their solution Crypto-currency AML Typology Repository Management and ISDA-REGnosys won the regulatory reporting challenge for their solution Consistent Regulatory Reporting via the Common Domain Model.

The 2022 TechSprint will be launched by the BIS Innovation Hub and Bank Indonesia on April 25. It will focus on solving technology challenges related to wholesale and retail central bank digital currencies (CBDCs). Shortlisted teams will be invited to showcase their prototypes in July and winners will be chosen in October by an independent panel. Key challenges identified include building effective and robust means to issue, distribute and transfer CBDCs, enabling financial inclusion, and improving interoperability.

The BIS Innovation Hub London Centre has launched the Project Rosalind TechSprint, inviting expressions of interest to come up with retail central bank digital currency (CBDC) use cases. Participants will be required to develop feasible prototypes by using the set of application programming interfaces (APIs) developed in phase one of Project Rosalind. It aims to develop prototypes of an API platform for the distribution of retail CBDC. The purely experimental setup is based on a two-tier distribution model, comprising a central bank at the foundation of the retail CBDC system and with customer-facing activities carried out by the private sector payment interface providers (PIPs).

The Bank for International Settlements (BIS) and Bank Indonesia announced the 21 shortlisted finalists for the G20 TechSprint CBDC challenge. The shortlisted teams now have until the end of August to complete their prototypes, which will then be judged by an independent expert panel convened by Bank Indonesia. Winners for each of the three categories will be announced in October ahead of the G20 Summit. Among the shortlisted were BitMint, R3, Ripple, S.e.A. (Stellar, eCurrency and ANZ), Bitt-IDEMIA, Crunchfish, and Giesecke+Devrient (G+D) Filia.

Since its first cohort in 2016, the U.K. Financial Conduct Authority (FCA) Regulatory Sandbox has supported 14 digital ID models. Also, there have been 15 applications for Direct Support to the FCA Innovation Hub and 6 of these are now receiving that support. Many other digital ID providers have engaged with the FCA through various channels such as the Anti-Money Laundering TechSprints. The FCA, in collaboration with The City of London, has also recently completed a pilot Digital Sandbox, which provides data access and a digital testing environment to help innovative businesses develop proof of concept. Two digital ID propositions participated in the pilot.