APIX and RBI Join Forces for HaRBInger 2024 Hackathon

APIX, the leading global collaborative innovation platform for financial institutions and fintechs across over 90 countries, today announced its partnership with the Reserve Bank of India (RBI) to host the prestigious HaRBInger 2024 hackathon. This landmark collaboration aims to bring together the brightest minds from around the world to develop cutting-edge solutions that enhance the security and inclusivity of the financial ecosystem.

About APIX

APIX is a collaborative innovation platform for fintechs and innovators across 90+ countries, empowering Financial Institutions to accelerate their innovation journey. Major banks, insurers, and regulators in the world use APIX to rapidly discover, test, and evaluate solutions by running comprehensive innovation programs, which include innovation challenges and hackathons. At APIX Platform, we are thrilled and proud to once again partner with Reserve Bank of India (RBI) for HaRBInger,” shares Umang Moondra, CEO of APIX.

Registration for HaRBInger 2024

Registration for HaRBInger 2024 started on June 7, 2024, and will unfold in four exciting phases on the APIX Platform: screening of entries, shortlisting for solution development, solution development with mentoring and support, and the selection of winners.

HaBRInger 2024’s focus

Reserve Bank of India (RBI) has led from the front in driving innovation in the financial services sector, and HaBRInger 2024’s focus on critical challenges related to fostering security, integrity, transparency, trust and inclusivity in digital transactions, is a testament to the leadership role that they play. As a trusted platform utilised by major banks and regulators worldwide, APIX is uniquely positioned to empower innovators and accelerate their journey toward bringing innovative ideas to life. Leveraging innovative technologies such as AI/ML, APIs, Data Analytics, and more, HaRBInger 2024 participants will have the opportunity to create solutions that drive meaningful change and leave a lasting impact on the financial services industry.

Combatting Fraud and Financial Inclusion

The hackathon welcomes individuals, teams, and enterprises from diverse backgrounds and geographies to participate, offering a platform to showcase their skills on a global stage. With exciting prizes up for grabs, including INR 40,00,000 (~USD 48,000) for the winner in each problem statement category and a special prize of INR 20,00,000 (~USD 24,000) for the best all-woman team, the opportunities are substantial. Under the overarching themes of Combatting Fraud and Financial Inclusion for the Differently-abled, the hackathon challenges participants to tackle four critical problem statements focused on real-time fraud detection, ensuring transaction anonymity, identifying mule accounts, and empowering the visually impaired in financial transactions.