HSBC ML Hackathon 2023 Hack the Hackers [Prize worth up to INR 50,000]: Register by April 18

HSBC invites registration for HSBC ML Hackathon 2023 Hack the Hackers. The last date and time for registration for this event are April 18, 12:00 AM IST.

Event Type: EducationEvent

Event Attendance Mode: OnlineEventAttendanceMode

Event Status: EventScheduled

Performer: Organization

Performer Name: HSBC

Start Date: 2023-03-31 03:30

End Date: 2023-04-18 03:30

Availability: InStock

Availability Starts: 2023-03-31T09:00:22

Editor's Rating:
4.77
HSBC ML Hackathon 2023 Hack the Hackers [Prize worth up to INR 50,000]: Register by April 18

HSBC invites registration for HSBC ML Hackathon 2023 Hack the Hackers. The last date and time for registration for this event are April 18, 12:00 AM IST.

Event Type: EducationEvent

Event Attendance Mode: OnlineEventAttendanceMode

Event Status: EventScheduled

Performer: Organization

Performer Name: HSBC

Start Date: 2023-03-31 03:30

End Date: 2023-04-18 03:30

Availability: InStock

Availability Starts: 2023-03-31T09:00:22

Editor's Rating:
4.77

HSBC invites registration for HSBC ML Hackathon 2023 Hack the Hackers. The last date and time for registration for this event are April 18, 12:00 AM IST.

About the challenge

Digital Money Transfer Fraud Detection – The Needle in a Haystack problem

  • At 48 billion, India accounts for the largest number of real-time transactions in the world in 2021 according to ACI a real-time payments infrastructure firm, ~3x that of nearest challenger China and 6.5x times greater than the US, Canada, UK, France & Germany combined. The covid-induced movement to a real-time money movement ecosystem has improved customer experience but at the same time has opened doors for fraudsters to siphon off money from bank accounts through innovative methods.
  • Balancing enhanced CX with safety requires financial institutions to invest in Machine Learning capabilities to detect fraud on a real-time basis. In addition to the vast amount of on-us data about customers, the banks are leveraging consortium solutions to augment their capabilities and producing algorithms to be a step ahead of the fraudsters. 
  • At HSBC Global Analytics Centres, our mission is to provide high-end analytics services across our global businesses and global functions. We are always looking for ways to help our customers understand their financial health and identify which products and services might help them achieve their financial goals, and help create frictionless digital journeys for customers.
  • Our data science team is continually responding to emerging threats by building up cutting-edge machine learning-driven models and strategies, working with the best-in-class service providers specialized in counter-fraud solutions.  As a mature analytics community – we strive to make sure we timely & accurately identify new ways to solve our most common challenge, binary classification problems such as: Is this transaction undertaken by a genuine customer? Is the product application made by the customer itself or they are being impersonated? Does the customer have the intention to repay the credit?
  • In this challenge, we invite data-minded folks to help us improve customer journeys by classifying good & bad digital money transfers. The data to be provided is not real data, it is synthetically generated data similar in structure to real data.

Eligibility

  • Open for all data enthusiasts –Data Scientists, Analysts, Statisticians, and Students.
  • Indian citizens who are residents are eligible only.
  • Years of Experience – 0 to 8.

Rules

  • Entries submitted after the contest is closed, will not be considered.
  • You are expected to solve the problem on your own.
  • Multiple IDs of user leads to disqualification from the contest.
  • Use of external data is not allowed.
  • Participant must update their profile details and upload their latest CV.
  • Decisions on the winners and runners-up made by HSBC Bank will be final and binding.
  • Throughout the hackathon, you are expected to respect fellow hackers and act with high integrity.
  • HackerEarth and HSBC Bank hold the right to disqualify any participant at any stage of the competition if the participant(s) are deemed to be acting fraudulently.
  • It is an individual participation Hackathon and not a team event.
  • Prizes will be shipped to India Address only.
  • Indian citizens who are residents are eligible only.

Challenge Duration

  • Challenge Duration:
    • The duration between the start and end time of the challenge. For example, 24 hours (6 p.m. on Wednesday up to 6 p.m. on Thursday).
  • Challenge-completion Duration:
    • Time within which you must complete the challenge. For example, within 12 hours (starting any time after 6 p.m. on Wednesday).
    • After you start the challenge, you cannot pause it.

Prizes

  • The winners get a cash prize of INR 50,000.
  • The First Runner Up gets a cash prize of INR 40,000.
  • The Second Runner Up gets a cash prize of INR 30,000.

How to Register?

Interested Candidates can register for HSBC ML Hackathon 2023 through this link.

Click here to view the official notification for HSBC ML Hackathon 2023.