SBI launches ‘2nd SBI Digital Hackathon’ – Digitize For Bank 

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Mumbai, October 18, 2017: Country’s largest lender State Bank of India recently launched its second edition of its Hackathon – Digitize For Bank (#D4B2017) at the hands of DMD & CIO of SBI, Shri. Mrutyunjay Mahapatra.

Digitize for Bank (#D4B2017) presented by SBI Collaborative Innovation Centre (CIC) is a curated Digital Hackathon on 4 use cases across “Cognitive” theme. They are: Facial Recognition, Signature Recognition, Voice based Authentication and Cheque Truncation Value Enhancers.

Today, Banks face several challenges like identity fraud, problems with signature validation, and lack of multi-form authentication.

Sudin Baraokar, Head Innovation, SBI opines on this occasion, “D4B2017 will leverage digital technologies to automate processes, identify patterns, improve efficiency and help the bank in fraud detection, spotting outliers, reduce validation errors and help simplify and ease customer experience.”

In the phase 1, participants can register their idea during October 11-27, 2017 followed by Hackathon which will start from 1st November 2017 and ends on 12thNov. The finalists will be called for final interview and can showcase their product between November 20-29, 2017. The winners will be announced on 30thNovember 2017 and the winning teams will get an opportunity for incubation and acceleration with SBI.