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~ Union Bank of India is the first bank in the industry to have successfully conducted the hackathon on Fintech, Cybersecurity, and Gen AI~
Bengaluru, 19th March 2025 : Union Bank of India, in collaboration with K J Somaiya College of Engineering, Mumbai, successfully concluded the IDEA Hackathon, a flagship event under the PSBs Hackathon Series 2025. This event is part of a larger initiative by the Department of Financial Services, Ministry of Finance, Govt. of India and Indian Banks Association, where all Public Sector Banks (PSBs) will conduct a series of Hackathons.
This initiative aims to delve into innovative solutions for real-world problems and critical areas of operations in the BFSI sector.
The event received an enthusiastic response from nearly 300 teams from over 30 colleges across Maharashtra, out of which 42 teams participated vigorously in a 24-hour Hackathon leading to a finale of 10 teams. MD & CEO of Union Bank of India A. Manimekhalai in the presence of Executive Directors of Union Bank of India announced Six teams as winners under various categories, including an all-women team and a differently-abled team.
The winning teams received cash prizes amounting to Rs. 11 lacs, with the first, second, third and consolation winners receiving Rs. 5 lacs, Rs. 3 lacs, Rs. 2 lacs, and Rs. 1 lac, respectively.
The event was graced by distinguished delegates and dignitaries from leading banks, financial institutions, fintech firms, and regulatory bodies, including Mr. Dilip Asbe, MD & CEO of NPCI. The attendees included representatives from RBI, IBA, IDRBT, IFTAS, ReBit, PSB Alliance, and top executives from other PSBs.
“We are thrilled to have hosted the IDEA Hackathon, which has provided a platform for young minds to showcase their innovative solutions,” said MD & CEO, A. Manimekhalai, in her address.
The IDEA Hackathon is a testament to Union Bank of India’s commitment to innovation and digital transformation. The bank will continue to support and encourage innovative ideas, driving growth and excellence in the BFSI sector.
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Prize/Category
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Team Name
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College Name
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First prize
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Entropy
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SVKM’s Dwarkadas J. Sanghvi College of Engineering
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Second prize
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Init 0
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SVKM’s Dwarkadas J. Sanghvi College of Engineering
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Third Prize
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Debug Dynasty
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KJ Somaiya College of Engineering
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Consolation Prize
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DedSec
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SVKM’s Dwarkadas J. Sanghvi College of Engineering
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All WOMEN
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Ctrl Alt Elite
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SVKM’s Dwarkadas J. Sanghvi College of Engineering
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PWD
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Team SWAG
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Shri Guru Gobind Singhji Institute of Engineering and Technology
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