Grand Finale of FinShield Hackathon 2025 Concludes at IIT Hyderabad

Hyderabad | September 3, 2025 – The Grand Finale of FinShield Hackathon 2025, organized by Bank of India (BoI) in collaboration with IIT Hyderabad, concluded successfully on 2nd–3rd September 2025. The initiative, powered by the Department of Financial Services (DFS), Ministry of Finance, Government of India, and the Indian Banks’ Association (IBA), provided a national platform for students and innovators to address critical challenges in digital banking and risk management.

The hackathon received 661 applications from across India, of which 72 shortlisted teams presented their prototypes at IIT Hyderabad. Eighteen teams made it to the final round, competing on two key problem statements:
1️⃣ Credit Risk Management using Alternative Data
2️⃣ Detection of Fraudulent Registrations in Digital Banking with Behavior-Based Authentication

An expert jury evaluated the solutions based on innovation, feasibility, scalability, and user experience, awarding cash prizes of ₹5 lakh, ₹3 lakh, and ₹2 lakh for first, second, and third positions respectively.

🏆 Winners:

Problem Statement 1 – Credit Risk Management Model
• 1st Prize: Doom n Gloom, Indian Institute of Petroleum and Energy, Andhra Pradesh
• 2nd Prize: ActionKamen, Gautam Buddha University, Delhi
• 3rd Prize: Finclusion, Manipal Institute of Technology, Karnataka

Problem Statement 2 – Fraud Detection in Mobile & Internet Banking
• 1st Prize: Jigyasa, IIIT Kottayam, Kerala
• 2nd Prize: Vajra, Amrita Vishwa Vidyapeetham, Kerala
• 3rd Prize: Team Kavach, IIIT Kottayam, Kerala

The finale was chaired by Prof. B S Murty, Director, IIT Hyderabad, and attended by senior leaders from Bank of India, including Shri Sudhiranjan Padhi, CGM IT & CIO, and Shri P Hari Kishan, CGM & CRO, alongside officials from IDRBT, IBA, and IIT Hyderabad.

📌 Key Remarks:

• Shri Sudhiranjan Padhi, CGM IT & CIO, BoI: “FinShield has given students a launchpad to showcase AI/ML-based solutions for credit risk and digital security. The sheer talent and creativity demonstrated by participants is promising for the future of banking innovation.”
• Prof. B S Murty, Director, IIT Hyderabad: “Hackathons like FinShield empower students to create real-world FinTech and cybersecurity solutions, bridging academia and industry for a digitally secure India.”

The event was live-streamed on YouTube.

This hackathon is part of the PSBs Cybersecurity Hackathon Series, a Government of India initiative to strengthen collaboration between public sector banks, academia, and students, fostering innovation and entrepreneurship in financial technology.