Allied Bank, in collaboration with LUMS, hosted the 4th edition of its Fintech Hackathon, a platform designed to empower fintech start-ups, innovators, and students to build creative financial technology solutions that contribute to Pakistan’s evolving digital landscape. The event continued the tradition of fostering innovation and collaboration between academia and industry, enabling participants to address real-world challenges in the financial sector through digital transformation and technological ingenuity.
Participants in this year’s hackathon were divided into two categories: the growth stage and the early stage, each offering a distinct opportunity for innovators to showcase their solutions. They were guided by industry experts, mentors, and professionals throughout the event, gaining insights into emerging technologies and fintech trends. The thematic focus areas of the hackathon included Digital Onboarding and KYC Simplification, Sustainable and Green Banking, Conversational Banking with AI Chatbots, Super App Transformation, Stablecoin Integration for Digital Payments, and RAAST Person-to-Merchant (P2M). These diverse themes highlighted the growing importance of technology in redefining the banking experience and expanding financial inclusion across Pakistan.
Allied Bank’s Chief Executive Officer, Aizid Razzaq Gill, emphasized the bank’s commitment to fostering innovation beyond traditional banking. “Our commitment to fintech extends well beyond technology as it is about nurturing and empowering the next generation of innovators and thinkers. Over the past three editions of the Hackathon, we have consistently discovered solutions that exemplify our dedication to fostering a culture of continuous innovation. This year’s Hackathon served as a unique platform for bright minds from across the country to collaborate and present forward-looking, practical solutions to the evolving challenges of the banking sector,” he stated. His remarks underscored Allied Bank’s vision to create a robust ecosystem that bridges the gap between emerging fintech talent and industry needs.
Echoing this sentiment, LUMS Rector, Shahid Hussain, highlighted the significance of academia-industry partnerships in shaping Pakistan’s digital economy. “We believe fintech stands as one of the most transformative forces shaping today’s economy, driving financial inclusion, enhancing lives, and redefining how individuals and institutions engage with finance. Our partnership with Allied Bank reflects our shared commitment to bridging academia and industry to empower the next generation of innovators and entrepreneurs,” he said. Dr. Suleman Shahid, leading the project from LUMS, reiterated the university’s dedication to fostering creativity and problem-solving, noting that innovation remains central to LUMS’ mission of nurturing impactful change.
Adding to the discussion, Dr. Tariq Jadoon, Provost at LUMS, highlighted how fintech is reshaping economic structures and social inclusion by improving access to financial services. He expressed that the partnership with Allied Bank serves as a bridge to support emerging thinkers, builders, and entrepreneurs as they navigate the future of digital finance. The collaboration between Allied Bank and LUMS through the Fintech Hackathon continues to stand as a vital platform for discovering innovative financial solutions, strengthening Pakistan’s fintech ecosystem, and driving digital growth within the country’s financial landscape.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
