New Delhi: South Indian Bank (SIB), in collaboration with Enactus and the Indian Institute of Technology (IIT), Delhi, announced the winners of its esteemed hackathon competition, the SIB Finathon. SIB Finathon aligns with the bank’s commitment to fostering next-generation banking that encompasses innovation and the adoption of cutting-edge technology.
The winners of the competition are Team Akatsuki from IIT, Delhi (First Prize: 3 lakhs), Team Hyperpersonalizers from IIT Roorkee (Second Prize: 2 lakhs), and Team Phantom from Coimbatore Institute of Technology (CIT) (Third Prize: 1 lakh). In addition to this, two teams received special appreciation awards for their solutions. The teams are Team DigiCrafters from Shri Vile Parle Kelavani Mandal’s Dwarkadas J. Sanghvi College of Engineering (DJSCE) and Team AlgoAllies from Netaji Subhas University of Technology (NSUT), who also received a cash prize of Rs. 25,000/-.
The SIB Finathon was conducted in two phases, consisting of an online screening and shortlisting round, followed by the grand finale, where participants worked on three exciting coding challenges. The competition garnered applications from top engineering colleges and IT companies nationwide.
A panel of experts reviewed the submissions and chose the top 14 teams. These 14 teams presented their innovative ideas and solutions while receiving guidance and mentoring from SIB, IIT Delhi’s faculty, and experts from Mindgate Solutions, OneCard, and OSTTRA at a co-creation camp held at IIT Delhi on November 4 and 5th, 2023.
“SIB Finathon is a resounding testament to South Indian Bank’s unwavering commitment to innovation and cutting-edge technology in banking,” said Mr. Sony A, South Indian Bank’s SGM and CIO. It is a thriving platform where forward-thinking thinkers shape the future of finance. We congratulate the talented winners who have shown exceptional thought and execution. With enthusiastic participants, it reflects our mission to revolutionise banking for accessibility and efficiency.
Beyond the hackathon competition, SIB Finathon played host to a conclave that featured illustrious speakers from the BFSI and tech domains. These luminaries shared their invaluable insights and thoughts, fostering a profound exchange of knowledge. The event featured enlightening and engaging panel discussions, and abundant networking opportunities, ensuring an enriching experience for all participants.
SIB Finathon represented an electrifying convergence of innovation, education, and networking opportunities, a triumphant endeavour dedicated to propelling the development of technology within the banking sector.