6th Floor,

Arfa Software Technology Park, Lahore

P (042) - 111-111-ITU (488)

Lubna Razaq
Teaching Fellow
MBA - Lahore University of Management Sciences (LUMS), Pakistan


Lubna is a financial technology professional with experience in DFS research, consulting, product development, business development, and channel partnerships, in-depth research into FinTech propositions. Lubna is the founding director for FinTech Center at Information Technology University where she is responsible for building the Center from ground up, the overall research direction, funding, human resource and project management of the Center. The center is the first partner lab of the Digital Financial Services Research Group at the University of Washington on solutions for DFS adoption and is expected to serve as a blueprint for future labs that will become part of this network. Focus areas of the center include DFS solutions and adoption for low literate and low-income populations in general and women in particular which begin with qualitative explorations and lead to focus segments, needs, solution design and testing. The FinTech Center has projects on women’s financial inclusion especially women entrepreneurs, group savings and fraudulent SMS detection which intersect with the areas of data science, security and human-computer interaction for development (HCI4D).

Lubna is also a consultant with FinSurgents, a Singapore based company working in Pakistan, where she has been the lead author of two studies to date. First study “Seeding Innovation: A Framework for Rooting FinTechs in Pakistan” was an in-depth study of the FinTech ecosystem in Pakistan in comparison with global hubs to suggest a road map for ecosystem development. It also included a framework for Karandaaz Pakistan to invest in FinTech startups. The other study was titled ‘Bridging the Policy Gaps: Enhancing Online Commerce in Pakistan’ which made recommendations regarding consumer protection laws, digital payment systems and human capital development in the online commerce industry. She has also been part of the team informally advising the State Bank of Pakistan on FinTech regulatory initiatives around the globe. She has authored four papers to date for SBP on regulations regarding Digital payments, P2P lending, FinTechs and Regulatory Sandboxes.

Before FinSurgents, Lubna was part of Vopium A/S, a Denmark based technology company. She was the ‘Product Development Lead – Mobile International Remittance platform’ and defined complete business requirements for front end app (End user) and back-end (KYC, payment, settlement, reporting, monitoring, money transfer, fraud prevention modules), led user experience definition and design activity, performed Regulatory research on EU Payments Services Directive, HMRC UK AML/KYC regulations and guidelines resulting in Risk based policy design for KYC, undertook vendor selection, on boarding and management for KYC/AML systems and payment processing (PEP, EU terror list, FATF, ID doc verification systems), supervise development team activities and overall project, reporting progress directly to CEO.

Before joining Vopium, Lubna worked as a marketing consultant for an NGO named Sudhaar which worked towards abolishing child labor and transparency in governance.

  • Hamid Mehmood, Tallal Ahmad, Lubna Razaq, Shrirang Mare, Maryam Zafar Usmani, Richard Anderson, Agha Ali Raza. “Towards Digitization of Collaborative Savings Among Low-income Group” to appear in proceedings of the 22nd ACM Conference on Computer-Supported Cooperative Works and Social Computing (CSCW), Austin, Texas.
  • Fahad Pervaiz, Rai Shah Nawaz, Muhammad Umer Ramzan, Maryem Zafar Usmani, Shrirang Mare, Kurtis Heimerl, Faisal Kamiran, Richard Anderson, Lubna Razaq. “An Assessment of SMS Fraud in Pakistan”  in proceedings of the 2nd ACM SIGCAS Conference on Computing and Sustainable Societies (ACM COMPASS 2019), Accra, Ghana.
  • Maryam Mustafa, Noor Mazhar, Ayesha Asghar, Maryem Zafar Usmani, Lubna Razaq, Richard Anderson. “Digital Financial Needs of Micro-entrepreneur Women in Pakistan: Is Mobile Money the Answer?” in the proceedings of International Conference on Human Factors in Computing (CHI) 2019, Glasgow, UK.
  • Samia Ibtasam, Hamid Mehmood, Lubna Razaq, Jennifer Webster, Sarah Yu, Richard Anderson,“An Exploration of Smartphone Based Mobile Money Applications in Pakistan”, published in the proceedings of 9thInternational ICTD Conference, 2017
  • Samia Ibtasam, Lubna Razaq, Haider W. Anwar, Hamid Mehmood, Kushal Shah, Jennifer Webster, Neha Kumar, Richard Anderson. “Knowledge, Access and Decision-Making: Women’s Financial Inclusion in Pakistan” in proceedings of the 1st ACM SIGCAS Conference on Computing and Sustainable Societies (ACM COMPASS 2018), San Jose and Menlo Park, CA, USA
  • Hamid Mehmood, Lubna Razaq, Jennifer Webster, Amna Batoool, Maryam Mustafa, Agha Ali Raza, Richard Anderson. “Save My Money: Digitizing Informal Savings in Pakistan” in HCI Across Borders at Conference on Human Factors in Computing Systems. Apr 21-26, 2018, Montreal, Canada.
  • Samia Ibtasam, Lubna Razaq, Sam Castle,”Finding and Bridging the Gender Divide in Financial Inclusion and Financial Services” (accepted at HCI Across Borders Symposium in CHI 2017)
  • Qasif Shahid, Lubna Razaq, Ahsan Mughal, Mahrukh Imtiaz, Myra Piracha, and Omar Shahid. “SEEDING INNOVATION A framework for rooting FinTechs in Pakistan”. Technical report, FinSurgents
  • Qasif Shahid, Lubna Razaq. “Demonetization for Changing Behavior and Building Platforms”, published in the Journal of Payments and Strategy, Vol 2 2017
  • Qasif Shahid, Lubna Razaq, “The Dynamics of Partnerships in the new age of Financial Services” published in MIT Tech Review Pakistan FinTech issue 2017