ISLAMABAD,18 JULY: PC Lahore hosted the grand conclusion of Allied Bank’s Fintech Hackathon series, which was organized in association with Team up Ventures. In order to propel digital change in the banking industry, Allied Bank and Team up Ventures once again brought innovators and entrepreneurs together after the success of the previous two hackathons, which saw the birth of innovative firms.
Allied Bank wanted to identify prototypes, disruptive ideas, and workable and inventive solutions that might revolutionize the Fintech sector through the Hackathon. The following themes were found to provide hacker-friendly solutions:
- Innovative Authentication Mechanisms
- Transform ‘myABL’ into an ‘Integrated Digital Platform’
- Integrating Generative AI to Enhance Banking Experience
- Leveraging SBP-RAAST Payments
Following a nationwide call for submissions, more than 1,200 applications from Fintechs, startups, and college students in Pakistan were received. Thirty of the nominated teams participated in a four-day training bootcamp that included mentoring sessions led by subject matter experts on a variety of topics, with the goal of better preparing the teams to refine their ideas.
Following the Bootcamp, participants presented their ideas in a semi-final round that determined which six teams advanced to the third Allied Bank Fintech Hackathon Finale.
Salman Akhtar, co-CEO of Techlogix and CEO of Adalfi, Karim Jindani, co-founder and CEO of Paysys Labs, Zouhair Abdul Khaliq, founder and general partner of Teamup Ventures, and Syed Faraz Anwer, partner consulting at PWC, were among the judges for the final.
Six startups—Botwa, Hysab Kytab, Finpocket, Kestrl, Mergn, and Kistpay—presented their solutions. “Collaborating for the Future: How Startups and Banks Can Join Forces for Financial Inclusion and Better Economy” be the topic of a panel discussion.
“The 3rd Allied Bank Fintech Hackathon has been a cornerstone in promoting innovation and cultivating emerging talent within Pakistan’s Fintech ecosystem,” stated Mr. Aizid Gill, Chief Executive Officer of Allied Bank, during the event. This occasion demonstrates Allied Bank’s steadfast dedication to fostering the expansion of Fintech and entrepreneurs in the area.
Allied Bank, in partnership with Team up, brought together outstanding groups that showcased innovative approaches to certain problems in digital banking. These creative concepts centered on improving the client experience, utilizing AI, and utilizing State Bank’s Raast payment system to provide cutting-edge banking solutions.
