HBL, Pakistan’s largest financial institution, launched the country’s first and largest fintech summit. The HBL Pakistan Fintech Summit 2021 (HBLPFS) is scheduled for today, December 1st.
Important to note, HBL is the lead sponsor of the Pakistan Fintech Summit 2021.
The virtual summit will be the first of its kind in Pakistan. According to details, some of the biggest names from global fintech giants will attend the event.
Dr Reza Baqir, Governor of the State Bank of Pakistan will attend the event in person as Chief Guest. Meanwhile, Her Majesty Queen Maxima of the Netherlands, who is also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, will deliver a special pre-recorded message at the summit.
Moreover, Ann Cairns, Global Vice Chair – Mastercard, will also deliver a virtual keynote to the participants of the HBLPFS 2021.
Commenting on the HBLPFS21, Muhammad Aurangzeb, President, and CEO – HBL said, “Pakistan’s Fintech landscape has tremendous potential to accelerate financial inclusion. Fintechs have been at the forefront of serving clients through disruptive methods, leading to increased ease and convenience in accessing financial services for individuals and businesses alike.”
“Banks and Fintechs together will create the financial world of the future. HBL’s sponsorship of the Pakistan Fintech Summit is a testament to our belief in fostering an ecosystem that will enable Pakistan to serve as a catalyst for innovation in the Fintech space globally,” he further added.
"Pakistan's Fintech landscape has great potential to accelerate #financialinclusion. #HBL believes in fostering an ecosystem that enables Pakistan to be a catalyst for innovation in the Fintech space globally." Muhammad Aurangzeb, President & CEO – HBL@StateBank_Pak #HBLPFS2021 pic.twitter.com/tCDuxoE1Tg
— HBL (@HBLPak) December 1, 2021
The event will end with HBL Pakistan Fintech Awards ceremony.
HBL’s commitment to fintech sector in Pakistan
HBL has often shown its dedication to changing the financial landscape of Pakistan. Back in May, it became the first bank to invest in a digital fintech startup with its Rs176 Million (USD 1.15 Million) participation in the last tranche of Finja’s Rs1.56 billion (USD10.15 Million) Series A1 round.
Such an investment serves two of the bank’s strategic priorities, namely, making investments into Digital Financial Inclusion and Development Finance companies, especially ones making an impact in agriculture and SMEs as these are the backbone of the economy, and proactively reinventing HBL to become a “technology company with a banking license”.
According to a report, the first quarter of 2021 has been the best for FinTech funding globally, surpassing Q2’18’s previous record, which included Ant Group’s(Alibaba) $14B funding round. Between 614 deals, VC-backed fintech companies successfully raised $22.8 billion. This represents 15% and 98% year-over-year (YoY) growth, respectively.