The National Bank of Oman (NBO) has successfully concluded its 2025 Hackathon, a cornerstone initiative of its Fintech Accelerator Program designed to foster innovation and empower emerging startups within the Sultanate’s financial technology ecosystem. The event, held at the bank’s headquarters, marked the culmination of a 48-hour innovation challenge that brought together 19 teams from across Oman to develop cutting-edge financial solutions.
Hackathon Highlights and Winners
The competition saw teams of developers, entrepreneurs, and innovators collaborate to address challenges in the banking sector. A panel of experts from the banking and technology industries evaluated the projects, selecting three winners based on their creativity, viability, and potential market impact.
Team Card Shield secured first place, earning a prize of OMR 2,000. Team Payce came in second with a prize of OMR 1,000, while Team Kanzie took third place, receiving OMR 500. Beyond the financial rewards, the top three teams have been granted the opportunity to join NBO’s Fintech Accelerator Program, where they will receive mentorship, funding opportunities, and industry connections to further develop their ventures.
Public-Private Partnership in Action
This year’s hackathon highlighted the importance of cross-sector collaboration, featuring a partnership with Oman’s Ministry of Higher Education, Research and Innovation. Two teams from the ministry’s “Upgrade” program participated, demonstrating a unified effort between public and private entities to cultivate a robust pipeline of tech talent and support the national innovation agenda.
Accelerator’s Track Record and Future Plans
Building on the proven success of its first accelerator cohort, NBO has already launched a second edition of the program in collaboration with Al Jabr. The inaugural program produced tangible results, with all five graduating companies successfully securing a total of $500,000 in investment. This funding enables them to enter the market, scale their operations, and advance their solutions, underscoring the accelerator’s role in transforming promising ideas into commercially viable businesses that contribute to the national economy.
About National Bank of Oman’s Fintech Accelerator
The NBO Fintech Accelerator Program and its accompanying hackathon are key pillars of the bank’s innovation strategy. The initiatives are aligned with Oman Vision 2040, which aims to empower national talent, promote entrepreneurship, and accelerate the growth of the Sultanate’s fintech landscape. Through these efforts, NBO is solidifying its position as a leader in driving innovation and future-proofing the banking sector in Oman.
Source: Zawya
