𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐨𝐫 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬 & 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐟𝐫𝐨𝐦 𝐅𝐮𝐧𝐥 𝐊𝐚𝐫𝐚𝐜𝐡𝐢
𝑪𝒐𝒍𝒍𝒂𝒃𝒐𝒓𝒂𝒕𝒊𝒐𝒏 𝒘𝒊𝒕𝒉 𝑺𝑩𝑷 𝒇𝒐𝒓 𝑺𝒂𝒏𝒅𝒃𝒐𝒙 𝑹𝒐𝒍𝒍𝒐𝒖𝒕
State Bank of Pakistan (SBP) must fast-track its efforts to launch a fintech sandbox, similar to SECP’s initiative. By forming a working group with SECP, SBP can leverage their experience and avoid reinventing the wheel. This collaboration will accelerate the rollout of innovative fintech solutions across the country.
𝑺𝒕𝒓𝒐𝒏𝒈 𝑷𝒂𝒓𝒕𝒏𝒆𝒓𝒔𝒉𝒊𝒑𝒔 𝒇𝒐𝒓 𝑺𝒕𝒂𝒓𝒕𝒖𝒑 𝑺𝒖𝒄𝒄𝒆𝒔𝒔
In the current risk-averse environment, fintech startups can only thrive through strong partnerships. The first three years are especially critical for gaining traction. Going solo during this time might hinder your ability to break through. Collaborating with key partners can provide the stability and access needed to succeed.
𝑭𝒐𝒄𝒖𝒔𝒆𝒅 𝑺𝒐𝒍𝒖𝒕𝒊𝒐𝒏𝒔 𝒇𝒐𝒓 𝑩𝒂𝒏𝒌𝒔
Rather than offering a broad range of services, fintech startups should focus on one key area that addresses a specific need within the banking sector. Mature startups that zero in on pressing pain points deliver clearer value, which banks are more likely to appreciate and adopt.
𝑩𝒂𝒏𝒌-𝑭𝒊𝒏𝒕𝒆𝒄𝒉 𝑪𝒐𝒍𝒍𝒂𝒃𝒐𝒓𝒂𝒕𝒊𝒐𝒏 𝒗𝒊𝒂 𝑰𝒏𝒄𝒖𝒃𝒂𝒕𝒐𝒓𝒔
Banks should establish fintech incubators in partnership with established startup centers. Streamlining fintech integration and providing dedicated support through these incubators will foster innovation and create a smoother path for fintechs to collaborate with financial institutions.
I am grateful to all the panelists Muhammad Raza, Gulfishan Shaikh, FCCA, Haris Inam for their insightful contributions. Thank you Faizan Laghari, Startup Syndicate and Urooj Zia for inviting me. The event was well-organized and full of valuable discussions.