A technology event was organised in Islamabad to enable young females to pitch their solutions to enhancing women’s participation in Pakistan’s banking system, particularly digital banking, through promotion of science, technology, engineering and mathematics (STEM) education among them.

United Bank Limited (UBL) in collaboration with LMKT, a technology company, and National Incubation Centre, Karachi (NICK) hosted the ‘BuiltByHer 3.0 Hackathon’.

Thirteen participating teams pitched innovative solutions aimed at making formal banking accessible and inclusive for women, according to a news release received by WealthPK.

The female-led teams took the stage and pitched their solutions to a panel of banking and startup industry leaders. The panel included Aliya Ahmed (head of digital channels, UBL), Zohair Saif (head of innovation, UBL), Omar Abedin (project director, NICK), Sana Shah (program manager, NICK) and Faizan Laghari (managing director, Bykea ride-hailing startup).

Sharjeel Shahid, Group Executive of Digital Banking Group, UBL, was also in attendance. After an intense round of pitches, the panel of industry experts selected two submissions that stood out from the rest.

Team Oval 2.0 won the competition, taking home a seed money prize of Rs750,000 for its cutting-edge and innovative solution. Using VR technology, the team gave an immersive look into a complete end-to-end banking experience in the metaverse. 

Team FromHer from Gilgit-Baltistan took home the second prize of Rs350,000. Their solution focused on training women from far-flung areas in the use of digital banking channels and financial rights and literacy as a whole.

The introduction of such solutions into Pakistan's economic value chain will open up new opportunities for economic growth as more of the under-banked population begins to adopt formal banking solutions.

Speaking on the occasion, Shazad G Dada, President & CEO of UBL, who was also the chief guest, said, “Gender diversity and financial inclusion have always been the top priorities of the bank. We are proud to have sponsored the BuiltByHer Hackathon to support the young women of Pakistan in showcasing their ideas and talent. As Pakistan’s most progressive and innovative financial institution, we always look forward to participating in initiatives that promote diversity and digital literacy and contribute positively towards the country’s economy.”

Atif Rais Khan, chief executive officer of LMKT, lauded the untiring efforts of all the participants, mentors, and judges for coming together to create a platform for young women to utilise and showcase their talent. He also shared his excitement about partnering with UBL.

He said that having a banking leader like UBL onboard spearheading the cause for gender inclusion in the economy is an extremely encouraging sign for the country’s future. “The role that women play within our society cannot be understated. We must do our absolute best to provide them with the opportunities that they deserve.”

BuiltByHer Hackathon 3.0 highlighted the potential of Pakistan’s creative young women and the economic possibilities that can be achieved through technology and collaboration between industry leaders.

UBL and LMKT are committed to supporting the development and implementation of the most promising solutions that ensure women's inclusion in the entrepreneurial landscape of Pakistan.

Credit : Independent News Pakistan-WealthPk