Following the announcement from the Central Bank of Brazil in May, the market is now starting to prepare for the arrival of open banking.

In order to help accelerate open banking, TecBan are running a hackathon this weekend to allow developers, banks and third parties to test their ideas by bringing them to life in a fully functional sandbox delivered by Ozone API.

With over a thousand applicants and participation from the central bank, this is set to be the next major milestone in the development of open banking in Brazil.

TecBan’s Head of Innovation, Tiago Aguiar said “following the announcement of the regulation, market players are looking to learn from the experiences around the world and really test out the potential of open banking. We’re running the hackathon to help bring the industry together and help accelerate progress based on real and tangible action.”

The hackathon is based on the Ozone Sandbox, a part of the Ozone API platform. Freddi Gyara, Co-founder and Chief Technology Officer said “We’re really excited to help accelerate the development of open banking in Brazil. There is a huge opportunity for Brazil to leapfrog other open banking markets by building on existing standards and learnings, and the hackathon will be a great celebration of innovation.”

The hackathon is a virtual event running between 16:00pm on Friday 24th July and 23:59pm on Sunday 26th July.

To learn more about TecBan, visit their website: https://www.tecban.com.br/