State Bank of India invites participation in the SBI Predict for Bank 2019 hackathon.

The competition consists of 2 phases.

Ideation Phase

Each participant needs to provide idea with process flow on how to develop a predictive analytics model that will most accurately foresee and predict corporate customer loan default using the publicly available data (e.g. news, blogs, forums, websites, court/arbitration center judgements, social media, stock exchanges, SEBI, rating agencies etc).

Hackathon Phase

Each shortlisted team will be given with 20 names of SBI Corporate Customers (chosen randomly) in the Hackathon Phase and the team will have to give the probability of default over next 6 months of these customers using publicly available data. Participants whose predictions come closest to the truest i.e. best correlated with real timeframe of 6 months will be awarded.

The analytical models can then be used in the bank for generating Early Warning Signals. Hence, the winners will be declared 6 months after the submission of Hackathon Phase Model/Prototype.

Evaluation Criteria

Phase I (Ideation Phase) – Idea Submission

Evaluation will be done based on the following criteria:

  1. Quality of the idea and how well the user/business needs were addressed
  2. Uniqueness in the approach towards the solution
  3. Impact of the idea on the challenge(s)
  4. User Experience and Functionality
  5. Technical Feasibility

Following are required to be submitted for evaluation:

Video or Presentation addressing the evaluation criteria along with the following:

  1. A detailed explanation of the idea/product
  2. How will the product be designed, developed and deployed?
  3. Demo of a bootstrapped application or wireframes would be preferred.
  4. Detailed Project Plan
  5. Model Architecture
  6. Technical Specifications

Phase II (Hackathon Phase) – Prototype Development

Evaluation will be done based on the following criteria:

  1. Functionality – How relevant is it to a banking scenario across different business verticals?
  2. Accuracy – How accurate is the result in a real business scenario?
  3. Scalability & Performance – Could this app scale as a real solution with multiple users?
  4. Security aspects considered – Is the solution secure enough for a bank to deploy?
  5. Customer Experience, Design, Look and Feel – Would a customer be happy to use it & also require less time to adopt?

The teams shortlisted for Hackathon Phase will need to provide working prototypes. The submission must have the following mandatory criteria.

Submissions will not be valid if any of the ones given below are missing while submitting the prototype.

  1. Beta APK/SDK
  2. Unit Test Case Document
  3. Source Code
  4. Elevator Pitch (Video)
  5. Product Prototype Presentation (pdf/ppt)
  6. Deployment Strategy along with Architecture and Infra details

Final Evaluation of the Winning Model

Selected models will undergo evaluation for 6 months. Participants whose predictions come closest to be the truest i.e. best correlated with real timeframe of 6 months will be awarded.

The analytical models can then be used in the bank for generating Early Warning Signals. Hence, the winners will be declared 6 months after the submission of Hackathon Phase Model/Prototype.

Timelines

The Hackathon will be conducted in 2 phases spanning over 5 weeks (tentatively).

PHASE I Ideathon Phase – Idea Submission: 24.01.2019 – 07.02.2019
PHASE II Hackathon Phase – Prototype Development: 12.02.2019 – 05.03.2019

Prizes
  • First Prize: Rs. 5,00,000.
  • Second Prize: Rs. 4,00,000.

Decision taken by SBI is final and binding. SBI may not award any prize if it does not find any satisfactory model.

Further, these 2 winning teams may opt for any one of the engagement modes after Hackathon phase.

  1. Successful product deployment on bank’s premises with a total one-time payment of Rs. 10 lakh
  2. Engage as per Start-up Engagement Program
Registration

You can either participate as an individual or as a team. Every team can have a maximum of 4 people.

Register online at this form.

Contact

If you have any queries or feedback, please email us at gayathri@stockroom.io.

Click here for official website.

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