National Incubation Center

The NIC Fintech Hackathon 2022

In collaboration with Allied Bank Limited we’re happy to present  “The 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 Limited, 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. 

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. The purpose of this event is to find practical innovative ideas, prototypes and solutions to challenges in the Fin-Tech space. Through this hackathon, the NIC and ABL aim to find disruptive ideas that can transform Fin-tech, not just in Pakistan, but across the globe.  

Pakistan's digital financial potential is $ 36 billion by 2025

Fintech services can boosting the 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.  

To apply click here and fill out the form. Share your idea, prototype or solution with us.

Hackathon Thematic Areas

The following Thematic Areas have been identified to hack solutions in the Fin-Tech space

Innovations in Fintech Banking

Help us create greater ease and accessibility of banking. 

We are looking for solutions for Cash Deposits and Withdrawals, Reward and Incentive Programs, Banking Cards, Easy Cash Dispensing, etc.

Help increase collaboration between banks, giving customers access a wider range of services.

We are looking for ideas that can improve interbanking services through the use of APIs, Embedded Finance, Electronic Transaction Processing, One Stop Solutions, Cross Bundling and other ideas.

Help us enhance the fintech seucirty landscape, creating greater banking confidence

Ideas on Fintech Security – Secure Gateways, BlockChain, Invoicing, Notifications, Authentication, Traceability, Encryption and other ideas to improve fintech security.

Help us improve the customer experience

We are looking for ideas Innovative Apps, Integration of Payment Gateways, User Experience, Digital KYC (Know your Customer), API Aggregation, App Simulators and other ideas.

Financial Inclusion and Literacy

Help us widen the banking net, giving people across the country access to financial services.

We are looking for Training, Rural Banking, SMS/ WhatsApp and Voicenote Banking, Senior Citizen Facilitation, Women Banking and fundamentally new ideas to connect the unconnected

Create avenues to help young customers save and invest their funds.

We are looking for ideas that encourage savings and investments in Pakistan. This could include savings and budgeting apps, investment trackers, etc.

SME and Startup Banking

Help us make it easier for SMEs, MSMEs and startups to use a variety of banking services.

We are looking for innovations in Remittances, Business Account Creation, Credit Management, Crowdfunding, Corporate Cards, Alternative Financing, Shared Accounts

Help us introduce novel banking services for businesses.

We are looking to enhance Billing/ Invoicing, Outsourcing, RegTech, Foreign Currency Management, Agritech Banking, Merchant Management, Beneficiary Management, etc.

Help us introduce tailored services for cash management.

We are looking for innovative ideas for Wire Transfers,Sweep Accounts, Merchant Services, Business Credit, Collection Management, Industry Expertise Curation, BNPL, etc.

Application Process Overview

In the following video we give you an idea of what you can expect as an applicant for The NIC Fintech Hackathon 2022