Fibe Organizes ‘Hack the Vibe’ – Hackathon focusing on Machine Learning Model

Pune – Fibe, India’s leading personal loan app has organized a hackathon on India’s leading managed hackathon provider, HackerEarth, in association with the Indian Institute of Technology Bombay and the Narsee Monjee Institute of Management Studies, Mumbai. It is an online competition for a high-tech crowd comprising students and professionals in data science, machine learning, software development, and application development from across the nation.

‘Hack the Vibe’ where participants use historical loan repayment behavior patterns and transactional data to build a robust model that will assist the organization in making informed decisions about extending credit to combat losses beforehand. With the new tech talents and digitally savvy individuals, the company will be able to create this model which can help in increasing its revenue and in critical situations to prevent a financial crisis.

Participants are expected to demonstrate their expertise in data analysis and machine learning (ML) to assist the authorities in streamlining decision-making and the daily challenges faced by any financial institution that offers credit line facilities. Model-based on a real-life problem statement (mentioned in the themes section) faced by every Financial Institute that provides a Credit Line facility.

Feeling highly excited about organizing such an Analytics event, Mr. Balakrishnan Narayanan, Director – Product and Analytics at Fibe, said, “This hackathon will be an excellent opportunity to bring great analytics minds together to solve a major challenge in the lending business. We expect the young minds to bring out various AI/ML-based models to solve the behavioral pattern of credit seekers and thereby help lending organizations to minimize loss due to repayment issues.”

On this occasion, Mr. Vineet Khandelwal, Director of Customer Success at HackerEarth said, “We are glad of the opportunity to have partnered with Fibe and provide an online platform for students to showcase their data science and ML skills. Fintech is one of the fastest-growing domains in Indian tech, and it’s good to see enthusiastic participation among the student crowd for these in-demand skills.”

Eligibility Criteria: Since the entire process is online, there is no fee for registration. However, all participants must be between the age of 20 years and 35 years. The competition will take place in March. Registrations are now open: https://www.hackerearth.com/challenges/hackathon/fibe-hack-the-vibe/

Prize Money: The winners will get enticing cash prizes, with the top three placings receiving INR 50,000 for the first place, INR 30,000 for the second place and INR 20,000 for the third place respectively. The fourth to tenth-place finishers will also get a consolation award for participation.