WASHINGTON, DC - 03/08/2018 — After a long and intense period of 2 days of Hackathon, the jury – comprised of top management from Bank Alfalah, TPS and Covalent including banking executives and Fintech experts – selected CubixKifayat as the winner of Fintech Hackathon in Karachi, Pakistan. The theme of this hi-tech event was revolving around “Building interesting financial products atop the APIs provided by the Partners of the program” which may help in creating new customer experiences and revenue models by leveraging Pakistan’s digital payment ecosystem.
The Hackathon started right after the 10th Anniversary Celebrations at Cubix where the stage was set for the employees, partners and affiliates with their entire family. Many of the employees even from technical division were wrapping up the projects on tough deadline to share their milestone achievements in the event. Technical team hardly got time to breath in, entering the competition, yet Cubix with its legacy chose not to miss the opportunity and went ahead to showcase the talent. And it was an immense pleasure for the CTO of the company, Mr. Ali Sohani, to see that hard work did pay off beautifully when they not just managed to secure the position but, coming out as winners amongst all the city-wide competitors.
The Hackathon took place in Karachi at the Momentum 2018 and it was a treat to watch startups thriving to their maximum potential for funding and investments.
The participating teams were given access to multiple API’s of reputed organizations such as Bank Alfalah, TPS Worldwide and Access Group. They were tasked to innovate an idea that can solve a financial problem faced by majority of people and at the same time, proves to be beneficial for the banking industry.
Cubix Commerce responded with the CubixKifayat App, which simplifies the whole tedious procedure of managing a Ballot Committee. The app aims to manage ballot committee online while taking care of details like funds transfer and trust process involved in secure and distributed manner respectively. The app operates with connecting all of its users with a bank accounts or virtual online wallets that can be charged with EasyPaisa and JazzCash. Transfer of funds can be done via various digital payment mediums and all of the transactions will be transparent and secured. CubixKifayat aims to leverage banks and its users on a broader scale and with majority of Pakistanis using the old conventional method of managing ballot committee, this app can revolutionize the method of managing ballot committees forever.
“Earlier this year I came across an article that showcased, in Pakistan, Ballot Committees are 3rd most used channel to save money and for p2p-funding. This is where the idea of Cubix Kifayat emerged from. CubixKifayat is a solution for nearly every household in the country that yet doesn't believe in big banks or centralized systems for the saving and lending of money.”Said CTO, Mr.Ali Sohani.
As a winner of the first ever Fintech Hackathon, Cubix Commerce has a long way to go and here is a proof of it. Bank Alfalah gave their APIs to team Cubixfor their future projects and self-learning.
Cubix’s entry in FinTech is not new at all, last year company delivered applications like Trigger-Give (a crowdfunding app that helps organizations to collect donations via tweets) and N-Trust (that is a p2p marketplace and p2p payment model integrated). Not just that Cubix with its expertise of DAPPS (Distributed Apps) and BlockChain technology, started working on product call Cypto-Wallet, something that’s going to provide people facility to open online multisig wallets.
Media Contacts:Company Name: Cubix, Inc