(MENAFN- IANS) Chennai, Jan 9 (IANS) Team Krypton, composed of students from Shiv Nadar University, Chennai won the Hackathon competition held by Shaastra, Indian Institute of Technology, Madras and Temenos.
As per the Shiv Nadar University-Chennai (SNU-Chennai), its student team Krypton came first at the Encryptocon Hackathon out of 300 teams and 900 participants in the 24-hour challenge.
Interestingly, seven teams from SNU-Chennai had participated in the competition, with four making it to the top six.
Team Krypton comprising third year students at SNU-Chennai -- L Achintya, Adithya Vedhamani, K Lohith Saradhi and Vishwa Kumaresh -- bagged the first place in the Hackathon winning a Macbook Pro each.
The SNU-Chennai team focused on "Behavior Analysis of Financial Fraudulent Transactions," a crucial topic in today's digital age where 93 per cent of banking fraud occurs online.
To address this, the SNU Chennai students developed a practical solution: a behavioral analytics SaaS system using machine learning (ML) for real-time fraud detection.
Prof. S. K. Bhattacharyya, Vice Chancellor, and Dr. T. Nagarajan, Head of the Department of Computer Science & Engineering, applauded the students for their accomplishment, emphasising the university's commitment to fostering a culture of innovation and practical problem-solving among its students.
--IANS
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