HBL Launches Innovation Challenge For FinTech Companies

Habib Bank Limited has launched an innovation challenge to attract the best ideas committed at innovating the banking and financial sector.

According to press release issued by HBL “(the bank) is committed to innovation and has embarked on a journey of transforming itself into a bank of the future,” adding that, “an important part of this journey is collaborating with new technology providers to develop exciting solutions to address the evolving needs of our customers and the changing market dynamics.”

Fintech companies at any stage of development are invited to submit pitches by 7th of May, 2017. According to HBL’s website, winners of the HBL Innovation Challenge will be offered a chance to test and deploy their solution at HBL using live customer data and leverage the bank’s portfolio of products in addition to cash awards for the finalists.

The bank didn’t mention any seed funding for the winners, instead the terms of such investment shall be negotiated separately, however such investment is at the discretion of HBL.