The Reserve Bank of India has launched its fourth global hackathon, ‘HaRBInger 2025 – Innovation for Transformation’, focusing on the theme of ‘Secure Banking’ to develop innovative, user-centric solutions for financial services. By inviting global talent to address some of the most pressing security challenges in banking, the RBI aims to foster a robust ecosystem for safeguarding customer identities and building trust through technology.
A New Era of Secure Banking
In an age where digital banking is rapidly evolving, the RBI’s ‘HaRBInger 2025’ endeavors to keep pace with emerging technologies while ensuring that customer safety remains a top priority. The initiative is targeted at developing solutions around the theme of Secure Banking, emphasizing the need for security protocols that effectively protect user identities in an increasingly online world.
This hackathon marks the fourth edition of this series, following successful events in 2021, 2023, and 2024. Each earlier installment focused on innovation in banking technologies, laying a strong foundation for the 2025 challenge, which aims to deepen the dialogue on safety and trust in the financial sector.
Problem Statements Driving Innovation
Participants in ‘HaRBInger 2025’ will tackle three primary themes: ‘Tokenised KYC’, ‘Offline Central Bank Digital Currency (CBDC)’, and ‘enhancing trust’ within financial transactions. Each of these themes aims to address critical areas in the realm of secure banking and presents a unique challenge for innovators. For instance, the focus on ‘Tokenised KYC’ is intended to explore how identity verification processes can become more secure and user-friendly.
With the rapid rise of digitization in finance, the need for innovative means to safeguard customer identities has never been greater. The RBI noted, “We are looking for solutions that are not only technologically advanced but also practical and applicable within the Indian financial ecosystem.” This rich focus area allows participants to create meaningful applications that could transform banking experiences.
Inclusive Participation for All Innovators
The hackathon is open to a diverse range of participants—including individual developers, teams, and organizations—aged 18 and over. This inclusive approach aims to filter in fresh perspectives from around the globe, particularly encouraging entrants who have a grasp of the Indian financial market. By nurturing global developers’ familiarity with local market dynamics, the RBI hopes to catalyze innovations tailored to the Indian consumer.
Moreover, interested innovators can enter into contractual agreements as individuals or as part of teams, setting the stage for collaborative problem-solving. The RBI is particularly keen on solutions that not only leverage sophisticated technology but also align with broader societal benefits.
Attractive Incentives for Bright Minds
Participants are incentivized to push their creative limits through significant monetary rewards and support. Winners of each problem statement will receive a prize of INR 40 lakh, encouraging competition and excellence. Additionally, a special prize of INR 20 lakh awaits the best all-woman team across all categories, aimed at promoting gender inclusivity in financial technology.
Aside from financial rewards, shortlisted teams will enjoy a stipend of INR 5 lakh to assist with prototype development. This financial backing, coupled with access to mentorship and expert guidance, ensures that innovators have the essential support they need to bring their ideas to fruition, while also gaining visibility in front of a distinguished jury.
Innovating for a Safer Future
‘HaRBInger 2025’ is more than just a hackathon; it is a strategic initiative that underscores the Reserve Bank of India’s commitment to fostering a secure and trustworthy banking environment. By catalyzing innovation and creating a platform for showcasing pioneering solutions, the RBI is effectively laying the groundwork for a more secure financial future.
As the call for entries opens, innovators around the world are encouraged to answer the challenge. This hackathon not only represents a chance to win significant prizes but also a unique opportunity to contribute meaningfully to the future of banking in India. With safety and user trust as pivotal components, ‘HaRBInger 2025’ promises a thrilling journey into the potential of secure banking innovations.
