Hult Prize Pakistan has collaborated with JS Bank to empower fintech entrepreneurs to accelerate financial inclusion through the development of innovative banking experiences.
With Open Banking Development emerging as a new trend in fintech, financial institutions are now focusing to create an ecosystem to drive financial inclusion with improved customer experiences. The amount of paperwork attached to a bank signup often holds back a lot of individuals to open a bank account.
In order to digitize this essential experience, the Digital Banking Department at JS Bank has been actively integrating technology. With 13 APIs and an active Developers’ Portal, JS Bank is now on a mission to streamline banking as a platform.
Called Build the FinDevs Program (BFDP), the collaborative initiative between Hult Prize Pakistan and JS Bank aims at empowering the next generation of Pakistani fintech entrepreneurs. With an on-going agreement with academia across Pakistan, the first phase of the program has been executed in the form of faculty awareness sessions in five major universities across Islamabad. These universities include FAST-NUCES, NUML, Bahria University, NUST-EME-ICE, and MY University. These sessions will be replicated country-wide.
After the faculty awareness sessions, the next phase of BFDP will be to hold some focus group and guidance sessions with university students. The program will help build fintech startups from universities with a focus on junior and senior year students. It will help them to create intuitive customer experiences exploring relevant use-cases.
The objective of this collaboration is to direct financial developers to utilize the power of open APIs available for all on the first banking developer portal in Pakistan. Moreover, it aims to build a platform to study challenges and explore digital solutions that promote financial inclusion and transform the future of banking.
Developers all over the world can access the JS Bank Developer Portal on here.
Hult Prize is an international year-long startup challenge in which students and prospective entrepreneurs participate to solve the most pressing problems the world is facing today. The winners are awarded $1M equity grant for the execution of the idea.
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