Innovation Indian Overseas Bank (IOB) has forged a strategic partnership with RMK Group of Institutions through a Memorandum of Understanding (MoU), announcing a nationwide cybersecurity hackathon to ignite innovation in banking and financial services. Unveiled in New Delhi, this initiative supports the Ministry of Finance’s Department of Financial Services and the Indian Banks’ Association’s vision for entrepreneurship and accelerated digital transformation across the sector. By engaging students from institutions throughout India, the hackathon targets real-world challenges, positioning young minds at the forefront of fintech evolution.
The competition spotlights critical areas like financial inclusion, digital banking solutions, and innovations tailored for specially-abled individuals. Participants will craft prototype solutions to pressing financial ecosystem issues, with RMK Group serving as the anchor institution to coordinate academic support and nationwide participation. Running over several months, the event offers mentorship from experts, allowing teams to refine ideas progressively. It culminates in May 2026, with top prototypes evaluated for real-world implementation and entrepreneurial viability.
Winning teams earn a prestigious showcase at the Global Fintech Festival 2026, amplifying
their ideas on an international stage. This structure not only hones technical skills but also
bridges academia and industry, fostering practical contributions to banking’s digital future.
IOB MD & CEO Ajay Kumar Srivastava emphasized the bank’s dedication to nurturing talent, harnessing technology for cutting-edge solutions, and advancing skill development in fintech.
Srivastava highlighted how the MoU deepens academia-banking ties, spurring innovation,
fortifying the digital landscape, and empowering students to shape inclusive growth. Amid
rising cyber threats and digital demands, the hackathon addresses cybersecurity head-on,
promoting secure, accessible banking for all. It aligns with India’s push for self-reliant fintech, where public-sector banks like IOB lead collaborative progress.
This partnership exemplifies proactive industry-academia synergy, tackling exclusion in
finance while building resilient tech ecosystems. By democratizing innovation opportunities,
IOB and RMK Group are cultivating the next generation of problem-solvers, ensuring
banking evolves inclusively and securely. As digital finance expands, such initiatives promise a transformative impact, blending creativity with actionable outcomes to strengthen the economic fabric.
IOB and RMK Group Launch PAN-India Cybersecurity Hackathon to Drive Fintech
