The organisers of SWIFT Hackathon 2021 have announced the winners and runners-up of two hackathon challenges launched in early September this year. Exactpro is recognised as runner-up in Challenge 2 – Building ‘synthetic’ data-sets required for AI-based product development, whilst protecting privacy.
The announcement came as part of the Sibos 2021 premiere financial services event program that has been taking place this week. From the official kick-off session on 7 September to the wrap-up hours on 24 September, 25 teams from across the industry worked hard to apply their unique expertise, industry’s latest research and best practices to be able to present their solutions to the SWIFT community at this year’s Sibos.
The hackathon challenges aim to reflect the increasingly important role artificial intelligence (AI) and machine learning (ML) are playing in financial services, with both tracks serving the purpose of facilitating the adoption of ML and AI technology in the banking space. The two challenges featured were:
- Challenge 1: Enhancing the accuracy of anomaly detection in payments
- Challenge 2: Building ‘synthetic’ data-sets required for AI-based product development, whilst protecting privacy
Exactpro’s solution submitted in Challenge 2 is based on years of experience of growing in-house test data development capabilities.
Iosif Itkin, Exactpro CEO and co-founder, comments: “Leveraging the in-house expertise and deep domain knowledge of our team that included business analysts, software testing engineers, developers, researchers and data scientists, Exactpro has been able to produce a scalable solution that can serve the industry in so many ways, from improving anti-money laundering (AML) and fraud detection mechanisms to building a variety of personalised payments products.”
Rostislav Yavorsky, Head of Research, Exactpro, says: “Challenge 1 is where the contestants had to be most pedantic about their solutions and relentless about reaching the desired metrics. Challenge 2 is where they had to apply utmost ingenuity and creativity in solving the task at hand. In both cases, the teams had to demonstrate painstaking attention to detail, work hard within a limited timeframe and coordinate exceptionally well, while being miles away from each other. I’m really proud of the results we’ve achieved. The value of reliable GDPR-compliant solutions for generating synthetic data-sets for market infrastructure institutions and fintechs is indisputable.”
Exactpro is a leading independent provider of software testing services for mission-critical technology that underpins global financial markets. The firm is experienced with trading, clearing and settlement platforms, market surveillance systems, market data systems, collateral and risk management systems, and post trade infrastructures. Exactpro provides functional and non-functional testing services to exchanges, clearing houses, securities depositories, trade repositories, digital exchanges, central banks, brokers and investment banks worldwide. Headquartered in the UK, Exactpro employs over 700 members of staff. Learn more at exactpro.com or follow us on LinkedIn and Twitter @exactpro.