Allied Bank in collaboration with Lahore University of Management Sciences (LUMS) successfully hosted the 4th edition of the Fintech Hackathon, creating a dynamic platform for fintech startups, innovators, and students to develop cutting-edge solutions for Pakistan’s rapidly evolving digital financial ecosystem.
The Hackathon brought together emerging talent from across the country, offering participants access to expert mentorship, direct networking with seasoned professionals, and exposure to the evolving fintech landscape. This initiative is designed to encourage creative problem-solving and practical innovations that can address real-world challenges in the banking and payments industry.
The competition was divided into two main categories — growth stage and early stage — to support both mature startups and emerging innovators. The thematic areas at the Hackathon reflected current industry priorities, including Digital Onboarding and KYC Simplification, Sustainable and Green Banking, Conversational Banking through AI Chatbots, Super App Transformation, Stablecoin Integration for Digital Payments, and RAAST Person-to-Merchant (P2M) solutions. Participants worked individually and in teams to present their projects to a distinguished panel of judges comprising experts from banking, academia, and the tech sector.
During the event, Aizid Razzaq Gill, Chief Executive Officer of Allied Bank, highlighted the strategic vision behind this initiative. He stated that the bank’s commitment to fintech extends far beyond technology and infrastructure, focusing instead on nurturing and empowering a new generation of innovators and thinkers. Gill emphasized that over the past three Hackathon editions, Allied Bank has consistently identified impactful solutions that reflect a forward-looking approach to innovation. He noted that this year’s edition once again provided a unique platform for talented individuals to collaborate and present practical solutions to challenges faced by the financial sector.
Representing LUMS, Shahid Hussain, Rector of the university, shared that fintech remains one of the most transformative forces shaping modern economies. He said that its role in promoting financial inclusion, improving lives, and redefining financial interactions is critical. Hussain added that the partnership between academia and industry demonstrates a shared commitment to empowering future innovators and entrepreneurs.
Leading the project from LUMS, Suleman Shahid remarked that innovation is central to the university’s mission, and this Hackathon offered a powerful opportunity for creative minds to bring forward innovative solutions that address real challenges in the banking industry.
Reflecting on the collaboration, Tariq Jadoon, Provost of LUMS, highlighted the significance of bridging academic institutions with the financial sector to drive meaningful innovation. He reiterated that fintech is reshaping the economy, driving inclusion, improving financial accessibility, and transforming how individuals and businesses engage with money.
The 4th Fintech Hackathon underscored the growing role of technology in the future of finance and reaffirmed the importance of collaboration between financial institutions and academia. The ideas and solutions developed during this event are expected to inspire new innovations that strengthen Pakistan’s digital financial infrastructure.
Follow the PakBanker Whatsapp Channel for updated across Pakistan’s banking ecosystem.