Table of Contents
About the EcoBank Fintech Challenge 2024
Attention, all developers and innovators! The EcoBank Fintech Challenge is currently seeking individuals with innovative ideas for financial technology to help shape Africa’s next groundbreaking fintech solution. This exciting opportunity offers the chance to win up to $500,000 by pitching your most compelling and feasible solutions.
Top teams will be chosen to present their pitches at the prestigious Innovation Fair hosted at Ecobank’s global headquarters in Lomé. The Fintech Challenge aims to identify and collaborate with Fintechs poised for growth and provide them with support and access to opportunities across Ecobank’s 33 African markets, ultimately contributing to their success as potential Pan African Fintech stories.
This challenge is open to all Fintech companies on the African continent. Interested Fintechs are invited to apply by submitting details of their product and a demo. These products should address one or more of the specific pain points listed on the challenge website.
The selected finalists will get to participate in the Ecobank Fintech Innovation Fair, with the top 3 finalists receiving cash prizes. Additionally, all finalists will be inducted into the Ecobank Fintech Fellowship, providing them with the opportunity to explore potential deals, integration, and commercial partnerships with the Ecobank Group.
Available Fields
Teams are to submit applications addressing one or more of the following challenges:
- Customer Experience
- Financial Inclusion
- Credit Scoring
- Ecosystem Aggregation
- Internal Tools
- Payments
- Any Other Relevant Product Categories
Eligibility Criteria
- All African startups and technology innovators are eligible to apply for the EcoBank Fintech Challenge. They are to choose from different areas of interest as listed on the website and build a demo to serve as a prototype; applicants without a demo would be disqualified.
- The Challenge is open to both teams and individuals.
- Teams can submit solutions for more than one challenge but are limited to only one entry per challenge (“Entry”).
- Individuals are not allowed to participate in multiple teams. Switching teams after applying is not allowed. Ecobank will cover travel and accommodation costs for up to two participants from each team.
Benefits of the EcoBank Fintech Challenge 2024
Reach the finals, be accepted as an Ecobank Fintech Fellow, and have the opportunity to consider the following opportunities:
- Multinational Product Roll Out: This is a once-in-a-lifetime chance to explore Ecobank integration and possibly introduce products in over 30 African markets.
- Competition Cash Prizes: A $50,000 cash prize will be given to the competition’s winner.
- Partnering with Service Providers: Ecobank has the authority to choose startups to be local, national partners in any of its 33 country ecosystems.
- Access to Ecobank’s Pan-African Banking Sandbox: Fellows will have the opportunity to work with a specialized team to test Ecobank’s APIs, which will help them enhance their offerings for the continent.
- Access To Partner Network: Upon induction as Ecobank Fintech Fellows, founders will have connections to a large global and African network of investors, mentors, and potential accelerators.
- Integration with Current Ecobank Digital Offerings: Financial technology companies have the chance to explore integration possibilities with current Ecobank digital offerings through the EcoBank Fintech Challenge. Ecobank Omni, Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPassTM QR, mVISATM & mCash, and Ecobank electronic financial supply chain (eFSC) are some of the current digital offerings. Applicants are encouraged to present to us how their products can improve the current Ecobank digital offerings.
How to Apply
Interested participants can apply via the link below. Please note that the deadline for applications is July 7, 2024. Late applications will not be considered. Click the link below to begin your application.
See also:
Emerging Global Leader Scholarship 2025 At American University
The University Of East Anglia Scholarships for Nigerian Students
