Chennai: Indian Bank, in collaboration with IIT Madras, hosted the grand felicitation ceremony for the winners of 'Innovision Hackathon 2025' at the IIT Madras campus.

Centred on the theme 'Innovate to Elevate', the hackathon aimed to foster innovation in FinTech and Cybersecurity.

This initiative is part of a broader push by the Department of Financial Services (DFS), Ministry of Finance, encouraging Public Sector Banks to collaborate with leading institutions to promote digital innovation and entrepreneurship in the banking sector.

Launched following an MoU signed between Indian Bank and IIT Madras on February 4, 2025, the hackathon drew participation from 33 IIT Madras teams. Of these, 21 were shortlisted—12 in FinTech and 9 in Cybersecurity.

With mentorship from Indian Bank and IIT Madras experts, the teams developed working prototypes tackling real-world banking challenges.

The top three teams were awarded prizes and unique co-branded RuPay prepaid cards featuring the logos of DFS, IBA, Indian Bank, and IIT Madras—making Indian Bank the first PSB to offer such recognition.

The event was attended by dignitaries including Mr. Binod Kumar, MD & CEO, Indian Bank; Prof. V. Kamakoti, Director, IIT Madras; Ms. Kirti, Joint Director, DFS; Mr. Suvendu Pati, CGM, RBI, among others.

Prof. Kamakoti stressed the need for strong user privacy and data protection in app development. Mr. Binod Kumar described the hackathon as a key step towards empowering youth and advancing Atmanirbhar Bharat.