Bank of Baroda, Microsoft launch nationwide hackathon on Gen AI

Public sector bank Bank of Baroda has launched a nationwide online hackathon focused on Generative Artificial Intelligence (GenAI) in collaboration with the tech giant Microsoft. This initiative aims to inspire participants to develop innovative solutions using Gen AI to address specific business challenges faced by the bank.

Participants will compete for cash prizes, with the top three teams receiving ₹5 lakh, ₹3 lakh, and ₹2 lakh, respectively. The bank plans to implement the most promising ideas that emerge from the hackathon.

The event, which spans two months, is open to individuals and teams — including developers, students, professionals, startups, and fintechs. Participants will work on ideation and prototype development in six key areas: customer service, financial advisory, audit and compliance, risk management, operational efficiency, and personalized content generation.

“Bank of Baroda is committed to staying at the forefront of innovation. The advent of Generative Artificial Intelligence marks a new frontier in the banking industry, offering new ways to enhance customer experiences, streamline operations, and drive efficiencies,” said Sanjay Mudaliar, Executive Director of Bank of Baroda.

“We believe that collaborating with innovators can create transformative solutions that will redefine the banking landscape. We are pleased to partner with Microsoft in this initiative.”

Puneet Chandok, President of Microsoft India and South Asia, said, “We at Microsoft share a vision of a tech-powered India with Bank of Baroda. Through the Gen AI Hackathon, we look forward to developers utilizing Azure OpenAI’s capabilities to architect unique digital solutions for the Indian banking sector.” 

Security hackathons unite product and security experts to identify vulnerabilities within a product. Participants provide an external perspective on a company’s security posture, uncovering significant gaps that internal teams might miss. Notably, the idea for the Pwn2Own hackathon was conceived by Dragus Ruiu, who also organizes CanSecWest. Ruiu was partly motivated by Apple's approach, which he felt trivialized security.