Bank of Baroda Hackathon 2024

                                          

About Hackathon

Bank of Baroda is one of the largest banks in India with over a hundred years of tradition of banking excellence. We have our customers in every corner of India and key markets globally and we have been constantly striving to deliver the best Banking services to them

Schedule - Date & Timeline

Registration & Idea submission

• 10th June 2024 - 30th June 2024

Evaluation of ideas

• 1st July 2024 - 3rd July 2024

Prototype development & submission

• 4th July 2024 - 28th July 2024

Declaration of finalist

• 31st July 2024

Final event (Onsite at Mumbai)

• First week of August 2024

 Awards & Recognition

1st Prize For the Winner

·        ₹5,00,000*

2nd Prize For the 1st Runner-Up

·        ₹3,00,000*

3rd Prize For the 2nd Runner-Up

·        ₹2,00,000*


SpSecial Rewards:

    ·  The top ideas will have the opportunity to work with Bank to implement comprehensive solutions.

·    ·    Special Co-branded Swagbags for top ideas.

·    · Certificate of Participation for all Finalists. 

   Hackathon Use Cases 

·        Challenge 1

o   Customer Service

Objective

To enhance the customer service experience by leveraging generative AI technologies to provide personalized, efficient, and proactive support across multiple channels.

Challenge

Automate customer inquiries and provide accurate responses in real-time.

Offer personalized recommendations and solutions based on customer data and interaction history.

Seamlessly integrate with existing customer service platforms and maintain a high level of security and data privacy.

 

·        Challenge 2

o   Risk Management

Objective

To improve the risk management capabilities of the Bank by utilizing generative AI to predict, assess, and mitigate various types of risks.

Challenge

Analyze large datasets to identify potential risks and anomalies in real-time.

Provide predictive insights for market, credit, and operational risks.

Generate actionable risk mitigation strategies while ensuring regulatory compliance.

 

·        Challenge 3

o   Audit & Compliance

Objective

To streamline audit and compliance processes through the application of generative AI, ensuring accuracy, efficiency, and adherence to regulatory standards.

Challenge

Automate the auditing of financial transactions and detect non-compliance issues.

Generate comprehensive audit reports with minimal human intervention.

Continuously monitor and update compliance requirements, adapting to new regulations and standards

 

·        Challenge 4

o   Operational Efficiency

Objective

To enhance the operational efficiency of banking processes by integrating generative AI to automate routine tasks and optimize workflows.

Challenge

Automate repetitive administrative and operational tasks, reducing processing time and errors.

Optimize resource allocation and workflow management to improve overall efficiency.

Provide intelligent insights for process improvements and decision-making support

Evaluation Criteria

·        Business Potential and Relevance

·        Uniqueness of Approach and Solution

·        User Experience

·        Scalability

·        Ease of Development and Maintenance

·        Security Considerations

Want to Apply?

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