The Ecobank Fintech Challenge 2020
Ecobank is challenging Africa’s new generation of entrepreneurs to find lasting solutions to the continent’s most pressing banking issues. Applications for this year’s Ecobank Fintech Challenge are now open!
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.
The Ecobank Fintech Challenge
The Ecobank Fintech Challenge identifies and partners Fintechs that are ready to scale and provides them with support and access to Ecobank’s 33 African markets so they can grow to become true Pan African Fintech success stories.
These products submitted for the challenge must address one or more of a specific set of the following pain points;
- Customer Experience
- Credit Scoring
- Ecosystem Aggregation
- Internal Tools
- Any Other Relevant Product Categories
The selected finalists for the Ecobank Fintech Challenge participate in the Ecobank Fintech Innovation Fair, with the top 3 finalists winning cash prizes. All finalists are inducted into the Ecobank Fintech Fellowship, which affords them the opportunity to explore deals, integration and commercial partnership with the Ecobank Group.
Become a finalist and stand a chance to explore the following opportunities;
- Multinational Product Roll Out; Once in a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.
- Competition Cash Prizes; The top three winners at the Challenge will be awarded $10,000, $7000, and $5000 cash prizes respectively.
- Service Provider Partnerships; Startups may be selected by Ecobank as a local country-level partner in any of Ecobank’s 33 country ecosystem.
- Access To Ecobank’s Pan-African Banking Sandbox; Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.
- Mentoring And Networking Support; founders will be inducted as Ecobank Fintech Fellows, granting them access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners.
- Integration With Existing Ecobank Digital Offerings; The Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings. The existing digital offerings include Ecobank Omni, Ecobank electronic financial supply chain(eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash, etc. You can learn more about these platforms HERE. We’d like applicants to pitch us how their solutions can add value to these existing Ecobank digital offerings.
How to Apply
The Ecobank Fintech Challenge is open to all Fintechs on the African continent. Interested Fintechs can apply by sending details of their product as well as a demo to the link below;
Deadline: 12th April 2020