The Reserve Bank of India (RBI) on Tuesday introduced its first international hackathon ‘HARBINGER 2021 – Innovation for Transformation’ with the theme ‘smarter digital payments‘. Registration for the hackathon begins from November 15, the central bank mentioned in a press release.
The Hackathon, it mentioned, invitations contributors to establish and develop options which have the potential to make digital funds accessible to the under-served, improve the convenience of funds and person expertise, whereas strengthening the safety of digital funds and selling buyer safety.
In response to the assertion, HARBINGER 2021 invitations progressive concepts for a number of downside statements within the cost and settlement techniques panorama, together with, context-based retail funds to take away the bodily act of cost.
Concepts have additionally been searched for progressive, easy-to-use, non-mobile digital cost options for changing small-ticket money transactions to digital mode; various authentication mechanism for digital funds; and social media evaluation monitoring instrument for detection of digital cost fraud and disruption.
“Being a part of HARBINGER 2021 offers a possibility to the contributors to get mentored by business consultants and exhibit their progressive options earlier than an eminent jury and win thrilling prizes in every class,” the RBI mentioned.
The prize for winner is Rs 40 lakh, and Rs 20 lakh for runner-up.
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