SBP to conduct Financial Inclusion Ideathon

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  • Ideathon to capitalize on digital advancements in the financial sector
  • SBP aims to remain committed towards increasing access of financial services for the underserved segments of the country

Stat Bank of Pakistan on Monday announced “Ideathon” for Financial Inclusiveness, aiming to leverage on the recent technological advancements in the areas of banking and payments especially for the unbankable segment.

SBP IDEATHON 2019

Through the Ideathon, SBP aims to provide a platform where the technology-based start-ups or established organizations can bring innovative solutions to improve financial inclusion and adoption of digital financial services in the country

Themes for IDEATHON 2019

Theme 1: Increasing Financial Inclusion for Women and Youth

The aim of this theme is to increase women’s equal access to financial services. The ultimate goal of this theme is to use Digital Financial Services for making markets all gender inclusive for small entrepreneurs in Pakistan, so as to enable them to sell across Pakistan

Theme 2: Enhancing adoption of Digital Financial Services by less educated

This goal aims to develop Digital Financial Services for illiterate or less educated segment of the society. Further it aims to increase financial literacy and awareness in lower strata

Theme 3: Digitize Informal Saving mechanism

Through this theme participants are expected to target informal savings scheme prevalent in pakistani society like “Bachat Committees”. The focus is on digitization of such mechanisms in Pakistan by building a digital platform for collection and distribution of funds

The “IDEATHON” Event

IDEATHON will be a day-long event which will take place in Karachi most probably by April End of this year. SBP will shortlist up to “Ten” Ideas which will pitch before the panel. The Panel will include Governor State Bank of Pakistan and other officials from SBP, PASHA. Banks and Tech sector

Ideathon is open to all university level students, technology led startups, fresh graduates, professionals, individuals working in financial institutions.

Applications are invited by March 10, 2019 after which Mentors from Technology companies will be assigned. Final five teams will be given a cash reward of Rupees Three Lacs.

The Application Forms can be Downloaded here.

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