GIBL concludes Nepal’s first AI/ML Hackathon

KATHMANDU: Global IME Bank Limited (GIBL) has successfully organized Nepal’s first-ever Artificial Intelligence (AI) and Machine Learning (ML) hackathon titled “Global IME AI/ML Hackathon”.

The event was held under the chief guestship of Mr. Bam Bahadur Mishra, Deputy Governor of Nepal Rastra Bank, and was attended by the bank’s CEO, Deputy CEOs, senior management, and representatives from various organizations.

Targeted at students, startups, developers, data scientists, and researchers with a passion for technology, the hackathon aimed to promote the development of innovative banking services using emerging AI and ML technologies.

Out of the numerous applicants, 21 teams were shortlisted for the online paper presentation round.

Participants came from various locations including Kathmandu, Mahendranagar, Pokhara, Birgunj, Kavre, and Dharan.

After a competitive final round, Team Calculus was declared the winner and awarded the first prize of Rs 100,000.

Other top-performing teams included:

WDK – Second Prize (Rs 75,000)

Larke Pass – Third Prize (Rs 50,000)

Team Janakpur – Fourth Prize (Rs 15,000)

Team Fraudex – Fifth Prize (Rs 15,000)

Additionally, Team Digibits won the “Best Presentation Award” and received Rs 15,000.

The prizes were distributed by Deputy Governor Mr. Bam Bahadur Mishra, who also expressed his appreciation to Global IME Bank for organizing the first AI/ML-focused hackathon in Nepal.

He emphasized that such initiatives offer valuable opportunities to youth and students, while also supporting the integration of advanced technologies into banking services to enhance service accessibility and efficiency.

Speaking at the event, CEO of Global IME Bank, Mr. Surendra Raj Regmi, stated that the hackathon plays a vital role in exploring potential digital banking services and addressing their associated challenges.

He also announced that the bank will offer opportunities for future collaboration with the top-performing teams.

The bank reaffirmed its commitment to promoting technology-friendly financial services and encouraging innovative ideas to strengthen digital banking in Nepal.

Participants in the competition focused on specific themes provided by the bank, showcasing their innovative solutions across two stages – a coding round and an onsite hackathon.

Applications for the event were submitted through the bank’s official website, and the competition successfully highlighted Nepal’s growing enthusiasm for AI and ML in the financial sector.