The NIC Fintech Hackathon 2022
In collaboration with Allied Bank Limited were happy to host “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 2 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.
Deadline to apply was September 11th 2022
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 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.
ABL Grand Finale Highlights
Check out the highlights from the Grand Finale of the NIC Fintech Hackahton
Frequently Asked Questions
Yes, participating in the NIC Fintech Hackathon 2022 is completely free of charge.
Competition will be held online on zoom.
No specific qualifications are required as such.
You must be above 18 to apply.
You must be able to prove that you are a skilled coder, UI/UX expert or experienced with Fintech.
Yes, you will have complete access to ABL’s APIs to develop your idea if required.
You can submit the application online here: https://airtable.com/shrODO6Jj2mQ0xR10
If you are a Coder or UI/UX expert, you are required to submit your portfolio. As a fintech expert you must show some evidence of previous work.
You do not need any sort of affiliation.
Besides the prize money you gain access to mentorship, networking, and a chance to scale up your idea.
Yes, the competition is open to apply for from anywhere in the world.
Your resume must be attached as a PDF, and you may share a link to your portfolio/ work.
You will not be able to update your form once submitted, but you can send another submission.
No, you do not need to be a Pakistani national to apply.
Each team must include a coder, UI/UX expert and fintech expert. You may submit your application as a team if you have one, otherwise we will allocate team members for you.
The prize money is for the whole group of 3 people.
Yes, for the finale event we will reimburse any transport costs.
The bootcamp will help you develop a great pitch and learn about the fintech and startup landscape.
If you make it to the innovation program, then yes you will receive mentorship.