NIC partners with Allied Bank to conduct a Fintech Hackathon

The NIC (National Incubation Centre) has announced to hold a hackathon on Fintech titled “Hacktivate 4.0”, which will be conducted on the 10th and 11th of April 2021. The announcement came through Twitter.

According to the details, the two-day event aims to discover practical solutions for the challenges faced by the financial sector in Pakistan and expand the implementation of technology in Finance by fostering innovation and collaboration.

The Hackathon will circle 7 thematic areas, including the following:

1. Banking
2. Insurance
3. Asset Management
4. Cross-industry Propositions
5. Digital Infrastructure Financing
6. Alternate Funding Channels
7. Green Finance

Those wishing to participate in the Hackathon can apply here.

The Fintech industry in Pakistan has been growing steadily, with startups and payment solutions increasingly securing substantial seed funding from local and international VCs. The efforts of government institutions such as the National Incubation Center (NIC), Pakistan Software Export Board (PSEB), and National Information Technology Board (NITB) and the public-private partnerships carried on in this regard are also noteworthy.

Despite the impressive development of local payment solutions introduced in collaboration between banks, startups, and the government, the void created by an absence of global payment gateways such as PayPal and Stripe, remains to be filled.

Read More: A Pakistani fintech startup called Safepay raises 7 figure seed funding from the global company.