Qatar FinTech Hub hosts fourth Hackathon to foster innovative ideas in Next Generation Banking


Qatar FinTech Hub (QFTH), founded by Qatar Development Bank (QDB) to support the growth of the FinTech industry in Qatar, is inviting all entrepreneurs and FinTechs from Qatar and around the world to apply to its fourth Hackathon.
Under the theme “Next Generation Banking”, the Hackathon aims to find solutions that cater to four main challenges; helping financial institutions increase revenue and reduce cost, helping financial institutions use data driven insights to create better products, enhance customer experience as well as provide innovative market-first payment solutions for a seamless sports fan experience in collaboration with Visa.
In this edition, the QFTH Hackathon Wave 4 brings on board Visa as a Challenge Partner who will also open their Fast-Track Incubator program to the winner of the Visa Challenge. On the other hand three successful innovative ideas will get fast track access to Wave 4 of QFTH’s flagship Incubator Program, an exclusive platform providing a wide range of support to FinTechs and entrepreneurs who are interested in Financial Technologies, allowing them to grow and tap into the opportunities within Qatar as well as global markets.
Abdulrahman Al Sowaidi, Acting CEO, QDB, says: “QFTH Hackathons are one of the most successful and exciting activities across the FinTech communities. In addition to their fast nature that evokes the creativity of the participants, the Hackathon also helps us get focused solutions dedicated to key challenges and gaps available in the local market. Such kind of initiatives enables us to further develop the entrepreneurship sector so that we could contribute to the fulfillment of the Qatar National Vision 2030”
Alex McCrea, Vice President and Head of Digital Partnerships & Ventures in CEMEA at Visa, said: “Visa is delighted to partner with Qatar FinTech Hub on their Hackathon and for the opportunity this brings Visa to support the fintech ecosystem in Qatar.  By joining Visa’s Fintech Fast Track program, the winner of this challenge will gain unprecedented access to Visa experts, technology, and the resources that fintechs need to scale with efficiency. We are looking forward to engaging with all the participants and seeing their developed ideas to solve challenges we are currently seeing in the market and deliver the seamless payment experiences consumers increasingly expect.”
QFTH aims to develop the Fintech industry in Qatar, in accordance with the Qatar National Fintech Strategy created by Qatar Central Bank, and to contribute and reiterate Qatar’s position as a leading international FinTech hub in the region, as outlined in Qatar’s National Vision 2030. Wave 4 of the Incubator and Accelerator Programs will focus on emerging technologies or co-innovating solutions for existing challenges in the following focus areas: Payment Solutions, Regulatory Technology, Islamic Finance and Solution for SMEs.

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