The National Incubation Center (NIC), the first and largest incubator in Pakistan, is partnering with Allied Bank (ABL), one of the country’s biggest banks, to hold yet another amazing FinTech Hackathon. You have the opportunity to compete for PKR 1 million in prize money if you are an expert programmer, UI/UX designer, or problem-solver with a love for fintech.
Hackathons are a fantastic way to get the community involved in solving the micro and macroeconomic issues facing the nation. The NIC has partnered with other organisations to concentrate on a few important economic sectors.
“Allied Bank has always been on the forefront of Innovation, and this FinTech Hackathon is another step in the same direction, bringing Pakistan’s brightest minds together to overcome the current challenges in the digital financial industry. Hence, collaborative efforts are required in providing solutions for financial inclusion and empowering the SME, Retail and Consumer segments.” – Aizid Razzaq Gill, CEO Allied Bank
This event’s goal is to identify workable new concepts, prototypes, and solutions to problems in the Fin-Tech sector. Through this hackathon, the NIC and ABL want to identify innovative ideas that would revolutionise fintech not just in Pakistan but also globally.
“It fills my heart with pride to see stakeholders in various capacities joining hands with the National Incubation Center in its humble attempt to encourage innovation and build disruptive solutions. Indeed, collaboration is the way forward and the success of events like this prove the power of partnerships in building the ecosystem.” Pervaz Abbasi, Director NIC
The significant investment made by banks and companies in technologically based solutions is one of the main drivers of the fintech market’s expansion. Additionally, innovations built on infrastructure and APIs are transforming the financial services sector’s future and fostering the expansion of the global fintech market. Particularly in Pakistan,
the potential for digital finance is estimated to be at $ 36 billion by 2025, which would increase GDP by 7%, generate 4 million new employment, and attract $ 263 billion in new deposits. Young innovators will be required to contribute ideas that can change space and spur widespread use of digital financial services as a result of this.
The following thematic areas have been identified to find solutions in the Fin-Tech space for the upcoming hackathon:
1. Innovation in Fintech Banking
2. Financial Inclusion and Literacy
3. SME & Startup Banking
The top 3 winners will get cash prizes, and an opportunity to connect with relevant stakeholders required to practically implement their ideas including investors, financial institutions & mentors/domain experts.
So, what are you waiting for? To learn more and to apply visit: https://nicpakistan.pk/fintechhack22/