IIT Hyderabad PSB Hackathon 2026, Grand Finale on August 27–28

IIT Hyderabad PSB Hackathon 2026: Final Stage

Shortlisted innovators are preparing to present their tech solutions to banking industry challenges around digital security at IIT Hyderabad on August 27–28. IIT Hyderabad officially includes the finale on its website as an upcoming event beginning at 12 noon on both days.

Bank of India has partnered with IIT Hyderabad, with support from the Department of Financial Services (DFS), Ministry of Finance, and the Indian Banks’ Association (IBA), to bring together students, technology innovators and educators with banks to address some of the challenges of the banking industry.

Key Details

What Is the PSB Hackathon?

The hackathon is a national-level contest focused on cybersecurity, fraud prevention and artificial intelligence in banking. Unlike most hackathons, which encourage participants to use their imagination to create innovative apps, the participating teams in this hackathon have been provided with specific bank-related problems that they have to address by creating prototypes. This year's programme is particularly focused on two areas where banks face rapidly evolving threats: malicious mobile applications and financial fraud through mule accounts.

Two Problem Statements

1. Generative AI for Fraudulent APKs and Malware Analysis

Challenge 1 requires participants to build a Generative AI system to perform the following tasks:

• Automated reverse engineering
• Static analysis
• Dynamic analysis
• Threat analysis
• Risk scoring
• Examination of fraudulent Android applications (APKs)
• Malware analysis

The goal is to develop a system that automates the identification and assessment of malicious applications faster and at scale.

2. AI/ML for Suspicious Transactions and Mule Accounts

Challenge 2 requires the detection of suspicious transactions and mule accounts using AI and ML. The systems should be capable of working with the following data:

• Financial transactions
• Fraud-monitoring alerts
• Transaction-monitoring system alerts
• Government cyber-fraud alerts and tickets
• Real-time regulatory inputs
• Cross-channel banking data

The aim is to spot suspicious activities and ensure that fraudulent funds do not circulate through mule accounts.

Who Was Eligible?

The programme deliberately had a broad participant base. The following categories of participants were allowed:

• Students from universities and colleges
• Young entrepreneurs
• Startup Founders
• Students Who Had Discontinued Studying
• Non-Student Innovators

Individuals could apply as individuals or teams with 2-4 members. The organisers encouraged having at least one female member of the team as part of the women-empowerment initiative of the program. The applications are closed; the current stage is the Grand Finale

From Idea to Working Prototype

The competition had a strict development cycle.

Organisers required teams to submit a project progress report by August 17. If teams fail to meet this requirement, organisers reserve the right to disqualify teams. After Phase 2, according to the official hackathon rules, 70 teams would be shortlisted, and the top 50 teams from India would get an opportunity to travel to IIT Hyderabad for the finale.

₹20 Lakh Prize Pool

The total prize money for the hackathon is ₹20 lakh, broken into two separate prize funds for two separate problems. For each problem statement:

• First prize: ₹5 lakh
• Second prize: ₹3 lakh
• Third prize: ₹2 lakh
• So ₹10 lakh is allocated for each prize.
• The prize money will be awarded in three stages:
• 50% will be awarded on the Grand Finale day
• 30% will be awarded on or after the Global FinTech Fest
• 20% will be awarded after successful product development

Each first prize winner will be given the opportunity to participate in Global FinTech Fest 2026. The second and third prize winners will be given the opportunity to participate in Global FinTech Fest 2026 at the bank’s discretion.

Travel and Accommodation Support

Accommodation and travel will be provided, at a capped amount of AC 3-tier train fare, to participants from outside Hyderabad for the competition, according to IIT Hyderabad reimbursement guidelines.

A Crucial IP Condition

Teams should be aware of the hackathon's intellectual property arrangement. The official rules say the ownership of the intellectual property and code shall vest with the Bank of India and IIT Hyderabad on a joint basis. That condition is unlike those of the competitions, in which participating teams continue to own the code submitted by them on an exclusive basis.

Why the IIT Hyderabad Finale Matters

This hackathon is linked to banking challenges of the future. With increased competition in the financial sector, the banks are in need of systems that can spot malicious applications and transactions that are suspicious, and need to respond to fraud in a timely fashion. The partnership that Bank of India has with IIT Hyderabad is indicative of an effort to integrate banking security with the needs of operational banking and the challenges of academic cybersecurity research. The IIT Hyderabad website describes the August finale as a showcase devoted to “innovations in cyber security, fraud and AI”.

What Happens on August 27–28?

The Grand Finale will be held at IIT Hyderabad on August 27 and 28 from 12 noon onwards. Shortlisted teams will present their prototypes, with the competition concluding with the prize announcement on August 28. The emphasis will be on demonstrable solutions to the prescribed banking problems rather than simply presenting theoretical concepts.

Final Thoughts

The PSB's Cybersecurity, Fraud & Artificial Intelligence Hackathon 2026 is now at its final stage on August 27 and 28 at IIT Hyderabad. Merging the shortlisted teams, the hackathon calls for solutions for the analysis of malware, detection of fraudulent APKs, and the identification of suspicious transactions and mule accounts.

With ₹20 lakhs, a chance to showcase at the Global FinTech Fest 2026, and involvement from Bank of India and IIT Hyderabad, participants get much more than just a hackathon trophy. They get an academic or startup technology opportunity to provide a real solution to a problem in the banking industry.

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