Canara Bank Hosts National Hackathon Finale to Drive Innovation in Banking Sector

Bangalore, August 2, 2025: In a significant push towards fostering innovation in banking, Canara Bank, under the visionary guidance of the Department of Financial Services (DFS) and Indian Banks’ Association (IBA), successfully hosted the Grand Finale of the National Cyber Hackathon at the A.V. Rama Rao Auditorium, IISc Campus, Bengaluru.

As part of a nation-wide initiative involving all Public Sector Banks (PSBs), the Hackathon centred around two real-world challenges: “Strengthening Mobile Banking Security using Behavioural Science” and “Securing Customer PII Data at Vendor Environments”. These topics reflect current priorities in securing digital banking infrastructure and customer data.
 
The prestigious event was graced by Chief Guest A.K. Goel, Chief Executive of IBA, K. Sathyanarayana Raju, Managing Director & CEO, Canara bank, Hardeep Singh Ahluwalia, Executive Director, Canara bank, Bhavendra Kumar, Executive Director, Canara bank, J. Sailaja Rani, General Manager, Reserve Bank of India, Capt. Sridhar Warrier, Registrar, IISc and other dignitaries.

The Hackathon drew overwhelming participation from across the country. A total of 4,723 teams, comprising 6,824 students, registered for the competition. Following rigorous evaluation rounds, 10 teams involving 39 students were shortlisted to compete in the Grand Finale held at IISc, Bengaluru.
 
Showcasing innovation and problem-solving skills, Team Finavat from Dr. APJ Abdul Kalam Technical University, Lucknow emerged as the winner, securing the 1st Prize of ₹5 lakh. Team Pindrop from Vishwakarma Institute of Technology, Pune claimed the 2nd Prize of ₹3 lakh. Team Jigyasa from Indian Institute of Information Technology, Kottayam claimed the 3rd Prize of ₹2 lakh. Additionally, two other teams were honoured with a consolation price of ₹50,000 each. In a humble gesture, MD&CEO Mr. Satyanarayana Raju declared ₹25,000 price to the remaining five teams acknowledging the competitive journey these teams have travelled to reach the finale. A total prize amount of ₹12.25 lakh was awarded to all the finalists.
 
Speaking at the event, A.K. Goel, Chief Executive of IBA remarked, “This Hackathon reflects the power of young minds in solving real- world banking challenges. Their innovations signal a strong future for secure and customer-centric digital banking”.

K. Sathyanarayana Raju, MD & CEO of Canara Bank, added, “Canara Bank is proud to be part of this initiative fostering innovation and cybersecurity. This aligns with our commitment to Digital India and building a secure financial ecosystem.”
 
Executive Director Hardeep Singh Ahluwalia commented, “Events like this bridge the gap between talent and technology in the banking sector.”

Executive Director Bhavendra Kumar stated, “This Hackathon highlights how collaboration and innovation can drive impactful digital solutions.”

J. Sailaja Rani, General Manager of Reserve Bank of India, expressed satisfaction on the overall conduct of the Hackathon and congratulated all the participants.

Capt. Sridhar Warrier, Registrar, IISc, informed that he was very happy to be with the bright minds and mentioned that he was very pleased to be associated with canara bank in this mega event.