In October of 2022, Financial Data Exchange (FDX) announced its inaugural FDX API Innovation Hackathon challenge in partnership with Prakat, a digital engineering and IT services solution provider. Tasked with creating new and innovative use cases utilizing the FDX API, teams went to work in late November to produce an app that would be judged based on idea, code quality, presentation and documentation.
Participants proved that new ideas can be brought to market quickly with just 8 weeks to build their solutions. Organizations that submitted projects included Sensedia and CI&T, Akoya, Plat, and U.S. Bank. The creativity of the teams was impressive, and judges were blown away by the passion behind the applications that were built utilizing the FDX API. In the end, Akoya was named the official winner with their development of FDX Recon (FDXr).
Describing their creation, the Akoya team says, “FDX Recon (FDXr) is a Validation and Support tool for reconciling fintech related messages to FDX. FDX Recon vets datasets against the FDX issued data entity format. The tool uses CUE lang, a superset of JSON to verify both inbound and outbound data, with the capability to drill down to the exact point of divergence. While FDXr currently supports the latest version of FDX entities, it is highly adaptable and scalable, and can be used to support all versions released so far.”
Congratulations to the participants:
Ritesh Kumar Singh
Want to take a deeper dive into their submission and hear from the experts themselves? We will be announcing a webinar and sessions dedicated to hackathon at the FDX Spring Global Summit 2023 in Raleigh, NC soon!
A huge thank you to all of the participants and judges for dedicating time to this project!