Allied Bank Presents NIC Fintech Hackathon 2022

The National Incubation Center (NIC) Pakistan’s first of its kind and largest Incubation center is hosting yet another exciting Fintech Hackathon in collaboration with Allied Bank (ABL), one of the largest banks in Pakistan. If you are 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. NIC has teamed up with various organizations to focus on some key economic areas of interest. This time we are joining hands once again with Allied Bank, to revolutionize the fintech sector of Pakistan. Allied Bank is one of the largest banks in Pakistan with an extensive customer base of over 5 million, an outreach of 1425 branches, and 1570 ATMs whilst operating in corporate, commercial, retail, and consumer banking services. The bank is persistently investing in technological solutions for providing digital financial services to all customer segments. Aizid Razzaq Gill CEO Allied Bank says: The purpose of this event is to find practical innovative ideas, prototypes, and solutions to challenges in the fintech space. Through this hackathon, the NIC and ABL aim to find disruptive ideas that can transform fintech, not just in Pakistan, but across the globe. Pervaiz Abbasi Director NIC adds: A key factor behind the growth of the fintech market is the large investment of banks and businesses 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, digital financial potential is about $36 billion by 2025, boosting 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 space and lead to mass adoption of digital financial services. The following thematic areas have been identified to find solutions in the fintech space for the upcoming hackathon: 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/.