Deadline: 21st July 2023 | Ecobank Fintech Challenge 2023 ($50 000 cash prize)
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Through the Ecobank Fintech Challenge, Fintechs who are prepared to scale are found, partnered with, and given access to opportunities throughout Ecobank’s 35 African markets. The aim? to support their development as possible Pan African Fintech success stories.
All African Fintech companies are eligible to participate in the challenge. Fintechs who are interested in applying can do so by sending a demo and information about their product here. One or more of the exact set of pain sites listed below must be addressed by one or more of these goods.
The Ecobank Fintech Challenge Grand Finale is attended by the chosen finalists. A $50,000 cash prize will be given to the grand prize winner in 2023. All winners are accepted into the Ecobank Fintech Fellowship, which gives them the chance to investigate business opportunities, integration, and partnerships with the Ecobank Group.
What benefits you: Advantages and Possibilities
Make it to the final round, accept your place as an Ecobank Fintech Fellow, and you may have the chance to investigate the following possibilities:
- Launch of international products
- A once-in-a-lifetime chance to seek integration with Ecobank and maybe introduce products in the over 30 African markets that Ecobank serves.
- Competition Financial awards
- The top three contestants will receive cash awards of $15,000, $12,000, and $10,000, respectively.
- Service provider collaborations
- In any of Ecobank’s 33 nation ecosystems, startups may be chosen as local country-level partners.
- Including existing Ecobank digital offerings in the integration
Fintechs have the chance to potentially integrate with Ecobank’s current digital solutions through the Challenge. The current digital services offered by Ecobank include Ecobank Omni, Ecobank eFSC, Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPassTM QR, mVISATM & mCash, among others. Find out more information about these platforms here. We want candidates to explain to us how their products can enhance the current Ecobank digital offerings.
Access to the Pan-African Banking Sandbox of Ecobank
In order for Ecobank to strengthen its goods for the pan-African market, fellows will have access to a dedicated team to help Ecobank’s API tests.
Customer satisfaction
In the following sectors, we’re seeking for futuristic and cutting-edge fintech products:
- Enhancing consumer experience both online and in-person
- AI, analytics, and customer insights are used in digital solutions to provide customized advertisements.
- addressing complaints made via digital channels.
- AI, analytics, and customer insights are used in digital solutions to provide customized advertisements.
- speeding up the resolution process
- Customer journey digitization
- proactive customer support
- Self-service with Personalized Customer Interaction
- Specified reporting results to gauge value
Economic Inclusion
We are open to innovative approaches that can make lending to SMEs better:
- Digital customer onboarding (consumers, SME/Merchants, and Investment Banking)
- Growing the number of our network’s payment wallets
Rating Credit
We are open to innovative approaches that can make lending to SMEs better:
360-degree picture of financial activities of clients and potential clients with other FIs
Digitzation of SMEs’ lending process
Ecosystem aggregation
The following categories are where we are looking for innovative, creative ideas.
- Onboarding of SMEs and merchants and payment integration
- Niche merchant aggregation using sector-specific solutions
- synchronization and consolidation with our Xpress point system are made possible by facilitating mobile collections with merchants.
Internal resources
What we’re seeking is:
Digital tools that boost sales force efficiency
Payments
We’d be delighted to hear how you can assist us with issues relating to:
- Dead Zones: Offline Mobile-to-Mobile Payments
- Increasing the size of our payment wallet in the context of Africa
Click Here to Apply for Ecobank Fintech Challenge 2023 ($50,000 cash prize)
For more information about Ecobanks Fintech Challenge, Click Here
