Allied Bank, National Incubator Centre ink MoU.

LAHORE -- Allied Bank, one of the largest commercial banks in Pakistan, has signed a memorandum of understanding (MoU) with National Incubator Centre (NIC) which is the largest technology incubation centre in Pakistan and managed by Teamup. Both organisations aim to promote innovation and digitization in the ecosystem. Allied Bank will use this partnership to encourage incremental, radical and disruptive innovation by holding design thinking and mentoring sessions, conducting hackathons, and even partnering or funding relevant start-ups for mutual value sharing. Moreover, Allied Bank will also expose their relevant digital offerings such as Open-Banking APIs to the start-ups, allowing them to test it in a sandbox environment and possibly support their business architecture. Teamup believes that the NIC startups can benefit immensely from this partnership. Relevant fintech startups will be provided access to ABL offerings and various collaborative programs will be developed to mentor, coach and facilitate startups to develop and refine their business ideas. 'We are extremely happy to initiate this collaboration and future prospects from this partnership are bright...