Karachi: The Grand Finale of the UBL National Innovation Hackathon 2026 was held in Karachi, bringing together five finalist teams selected from 1,281 initial registrations received from across Pakistan.
Organised by the National Incubation Center Karachi (NIC Karachi) in collaboration with United Bank Limited (UBL), the national hackathon featured a total prize pool of Rs. 5 million. Payssenger emerged as the winner and received Rs. 2.5 million, while UBL FraudShield AI was declared the runner-up and awarded Rs. 1.5 million. Vision X, Finclude and CreditBridge AI were recognised as finalists and received Rs. 0.5 million, Rs. 0.3 million and Rs. 0.2 million, respectively.
The 72-hour hackathon brought together 25 teams following a multi-stage selection process that included 399 detailed idea submissions, 70 teams and 10 individuals shortlisted for bootcamp sessions, and 43 team deliverables submitted during the bootcamp phase. Participants competed across five thematic areas: Artificial Intelligence in Banking, Blockchain & Digital Trust, UX/UI for Inclusive Financial Services, Open Banking APIs, and Emerging FinTech Solutions. They developed solutions to address real-world challenges in banking, payments and financial services.
Speaking at the event, Mr. Syed Azfar Hussain, Project Director, NIC Karachi, highlighted the hackathon as a strong example of corporate innovation, bringing together startups, talent and corporate resources to develop solutions to real-world challenges. He appreciated UBL’s commitment to supporting participating startups beyond the competition through mentorship, its FinTech Lab and incubation programme.
Mr. Sohail Aziz, Chief Information & Digital Officer, UBL, emphasised that innovation must go beyond technology to address real business and customer challenges. He highlighted the role of data, technology and artificial intelligence in improving customer experience, efficiency and service delivery, while stressing the importance of collaboration among UBL’s internal talent, startups and entrepreneurs.
Mr. Muhammad Jawaid Iqbal, President and CEO, UBL, said, “We have always emphasised superior customer service, which has evolved significantly over the past three decades. Today, our focus is strongly on Pakistan’s youth, and we are creating meaningful career opportunities by hiring young talent, including graduates from science and engineering backgrounds. Our commitment goes beyond recruitment; we want to invest in young people, enable their growth and provide opportunities that allow them to build successful careers and contribute to the future of banking and Pakistan’s economy.”
Payssenger, the winning team, developed an offline-first banking solution that enables UBL customers to make secure digital payments through SMS when mobile internet is unavailable. UBL FraudShield AI, the runner-up, developed an AI-powered fraud detection platform that assesses transactions in real time using multiple risk indicators, combining explainable AI with adaptive customer verification and a tamper-evident audit record.
Vision X’s FlowBank AI predicts branch congestion, enables customers to view expected waiting times and book Smart Walk-In slots, while providing branch managers with demand forecasts and staffing recommendations. Finclude’s Sarwat.io transforms routine remittances into structured savings, insurance and investment opportunities for members of the Pakistani diaspora and their families. CreditBridge AI developed an alternative credit-scoring platform that uses verified digital-wallet activity and other financial indicators to generate an explainable credit score for customers without a formal credit history.
The UBL National Innovation Hackathon 2026 marks a significant collaboration between NIC Karachi and UBL to support emerging innovators and develop practical solutions for the financial sector. The initiative also extends beyond the competition through mentorship, the UBL FinTech Lab and incubation opportunities, creating pathways for continued engagement between startups and industry.
