Deadline: 15-Jun-2026
The PSB Cybersecurity, Fraud & Artificial Intelligence Hackathon is a national innovation challenge organised by Bank of India in collaboration with IIT Hyderabad and supported by the Department of Financial Services (Ministry of Finance) and the Indian Banks’ Association. It invites students across India to develop prototype solutions addressing cybersecurity, fraud detection, and artificial intelligence challenges in banking, with a total prize pool of ₹20 lakhs.
PSB Cybersecurity, Fraud & AI Hackathon Overview
The hackathon is a national-level initiative designed to encourage innovation in the financial and banking sector. It brings together students, educational institutions, and public sector banks to solve real-world problems using technology-driven approaches.
The programme focuses on strengthening digital banking systems, improving fraud prevention mechanisms, and advancing AI-based solutions for financial security.
Key Focus Areas and Themes
The hackathon centres on practical challenges in the banking and financial ecosystem, including:
- Cybersecurity in banking systems
- Fraud detection and prevention technologies
- Artificial intelligence applications in financial services
- Digital banking security and resilience
- Data-driven risk management solutions
- Innovation in fintech and banking operations
- Prototype development for real-world banking problems
Participants are expected to develop working solutions or prototypes aligned with these themes.
Objectives of the Hackathon
The initiative aims to:
- Promote innovation in banking and financial technology
- Encourage student participation in real-world problem solving
- Strengthen cybersecurity awareness in financial systems
- Foster collaboration between banks, academia, and students
- Support entrepreneurship and prototype development
- Identify and nurture young tech talent in India
- Improve fraud prevention and digital banking safety
Funding and Prize Structure
The hackathon offers a total prize pool of ₹20 lakhs.
For each problem statement or theme:
- First Prize: ₹5,00,000
- Second Prize: ₹3,00,000
- Third Prize: ₹2,00,000
The awards are designed to reward innovation, technical excellence, and practical applicability.
Eligibility Criteria
The hackathon is open to:
- Students from all recognised institutes and universities in India
- Teams of 3 to 4 students per group
Team Guidelines
- Each team must include 3–4 members
- Inclusion of female participants is encouraged as part of women empowerment efforts
- Teams must work collaboratively on prototype-based solutions
Programme Structure and Participation Format
Participants typically engage in:
- Problem statement selection
- Solution ideation and design
- Prototype or proof-of-concept development
- Evaluation and final presentation
Selected teams will present their solutions to industry experts and banking professionals.
Why This Hackathon Matters
This initiative is important because it:
- Enhances cybersecurity capabilities in the banking sector
- Promotes innovation in fraud detection systems
- Encourages AI-driven financial solutions
- Builds strong industry-academia collaboration
- Provides real-world exposure to students
- Supports fintech innovation and entrepreneurship
- Helps strengthen India’s digital banking infrastructure
Common Mistakes to Avoid
Participants may lose opportunities due to:
- Weak understanding of banking or cybersecurity problems
- Lack of a working prototype or proof-of-concept
- Poor team coordination in 3–4 member groups
- Ignoring real-world applicability of solutions
- Submitting ideas without technical depth
- Not aligning with cybersecurity or fraud-focused themes
- Incomplete or unclear solution presentations
Tips for a Strong Submission
- Focus on practical, implementable solutions
- Build a functional prototype, not just a concept
- Clearly define the problem and proposed solution
- Use AI and data analytics effectively where relevant
- Ensure strong cybersecurity or fraud-prevention focus
- Demonstrate scalability and real-world banking use cases
- Highlight innovation and originality
Frequently Asked Questions
Who can participate in the hackathon?
Students from any recognised institute or university in India.
How many members can be in a team?
Each team must have 3 to 4 students.
What is the total prize money?
The total prize pool is ₹20 lakhs.
What are the prizes for winners?
₹5 lakh for first prize, ₹3 lakh for second, and ₹2 lakh for third.
What are the main themes?
Cybersecurity, fraud prevention, and artificial intelligence in banking.
Is female participation encouraged?
Yes, teams are encouraged to include female participants.
Who is organising the hackathon?
It is organised by Bank of India in collaboration with IIT Hyderabad and supported by DFS and IBA.
Conclusion
The PSB Cybersecurity, Fraud & AI Hackathon is a major national initiative that connects students with real-world banking challenges. By focusing on cybersecurity, fraud prevention, and artificial intelligence, it promotes innovation, strengthens digital financial systems, and builds a strong pipeline of future fintech talent in India.
For more information, visit Bank of India.