ISLAMABAD – The National Incubation Center (NIC), Pakistan’s first of its kind and largest incubation center, is hosting another exciting FinTech Hackathon in collaboration with Allied Bank (ABL), one of the largest banks in Pakistan. If you’re a coder, UI/UX expert or a problem solver with a passion for FinTech, here’s your chance to get a shot at PKR 1 million in prize money.
Hackathons are a great way to mobilize the community to find solutions to existing micro and macro economic problems prevalent in the country. “Banking has always been at 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 finance industry. Hence, collaboration is needed to provide solutions for financial inclusion and empowering the SME, retail and consumer segments, says Aizid Razzaq Gill. The purpose of this event is to find practical innovative ideas, prototypes and solutions to challenges in the Fin-Tech space. Through this hackathon, NIC aims to find disruptive ideas that can transform Fin-tech, not only in Pakistan but worldwide.
“It fills my heart with pride to see stakeholders in various capacities joining the National Incubation Center in its humble endeavor to encourage innovation and build disruptive solutions. In fact, collaboration is the way forward and the success of events like this proves the power of partnerships to build the ecosystem,” says Pervaz Abbasi, Director of NIC.
A key factor behind the growth of the fintech market is the large investment by banks and companies in technology-based solutions. In addition, infrastructure-based technologies and APIs are reshaping the future of the financial services industry and supporting the growth of the global fintech market. Specifically, in Pakistan, the digital economic potential is around $36 billion by 2025, increasing GDP by 7%, creating 4 million new jobs and bringing in $263 billion in new deposits. This will create a need for young innovators to bring in solutions that will revolutionize the space and lead to mass adoption of digital financial services.
The following thematic areas have been identified to find solutions in the Fin-Tech area for the upcoming hackathon: Innovation in Fintech Banking, Financial Inclusion and Literacy and SME & Startup Banking. The top 3 winners will receive cash prizes and an opportunity to connect with relevant stakeholders required to practically implement their ideas, including investors, financial institutions and mentors/domain experts. Those who want to learn more and apply can visit
NIC is hosting another exciting FinTech Hackathon in collaboration with ABL – Latest News – The Nation
