Recognizing the significance of fintech in driving economic growth and financial inclusion, the need for a platform to address challenges faced by fintechs in Pakistan has become increasingly evident. Thus, the creation of a Fintech Support Forum has emerged as a promising initiative to foster collaboration, overcome obstacles, and facilitate the sustainable development of the fintech ecosystem in the country.

The primary objective of PFN’s Fintech Support Forum is to provide a dedicated platform for fintech companies in Pakistan to access support, guidance, and resources. It aims to address the unique challenges faced by fintech startups and established players alike, with a focus on fostering an environment conducive to innovation and growth. The forum seeks to serve as a hub for knowledge sharing, collaboration, and advocacy, ultimately ensuring the success and sustainability of the fintech industry in Pakistan. To lay the foundation for the Fintech Support Forum, the first step is to finalize the problem themes that will serve as the focus areas for discussion and ideation. These problem themes could encompass a wide range of challenges faced by fintech companies operating in Pakistan. They may include issues related to setting up a company, obtaining licensing and regulatory approvals, navigating ownership structure complexities, adhering to know-your-customer (KYC) requirements, and many other pertinent topics.

Once the problem themes are identified, the Fintech Support Forum will bring together key stakeholders from the fintech industry, including both established players and enablers. By gathering a diverse group of experts and practitioners, this collaborative movement aims to pool together valuable insights, experiences, and perspectives to address the challenges identified earlier. The Fintech Support Forum will also focus on highlighting the challenges identified as well as propose actionable solutions and policy changes that can empower fintech companies, remove barriers, and promote a conducive environment for their growth.

In addition to addressing regulatory challenges, the Fintech Support Forum will also explore ways to overcome various other obstacles faced by fintechs operating in Pakistan. These may include issues related to access to funding, talent acquisition, gender mainstreaming, cybersecurity, consumer trust, interoperability, and collaboration with traditional financial institutions. By tackling these challenges head-on, the Fintech Support Forum aims to foster a thriving ecosystem that nurtures innovation, supports entrepreneurship, and promotes financial inclusion in Pakistan. The forum seeks to serve as a valuable resource and support system, empowering fintech companies in Pakistan to thrive, innovate, and contribute to the growth and transformation of the financial landscape.