The Pan African Bank, Ecobank is asking for purposes for the Ecobank Fintech Challenge 2020. This is the third version of the initiative, and it offers a chance for African Fintech to advertise their options with entry to the financial institution’s African market.
Basically, this problem will allow Ecobank to associate with Fintech startups and proceed to remodel digital finance and banking throughout Africa.
Therefore, when you have a novel fintech innovation with the potential of enhancing banking in Africa, this chance is for you.
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About The Ecobank Fintech Challenge 2020
The Ecobank Fintech Challenge is open to all fintech startups in Africa. Generally, it identifies and companions with fintech corporations which can be able to scale and supply them with assist and entry to Ecobank’s 33 African markets. This means, they will develop to develop into true Pan African Fintech success tales.
First, chosen finalists will take part within the Ecobank Fintech Innovation Fair. The high three finalists stand an opportunity of successful money prizes. Then, all finalists might be inducted into the Ecobank Fintech Fellowship and this may afford them the chance to discover offers, integration and industrial partnership with the financial institution.
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Benefits Of The Ecobank Fintech Challenge
When you
develop into a finalist, you get inducted as an Ecobank Fintech Fellow. Also, you stand
an opportunity to discover the next alternatives;
- Multinational Product Roll Out: Once in a lifetime alternative to pursue integration with Ecobank and probably launch merchandise in Ecobank’s over 30 markets throughout Africa.
- Competition Cash Prizes: The high three winners on the problem might be awarded $10,000, $7000 and $5000 money prizes respectively.
- Service Provider Partnerships: Start-ups could also be chosen by Ecobank as native country-level companions in any of Ecobank’s 33 nation ecosystem.
- Access To Ecobank’s Pan-African Banking Sandbox: Fellows might be given entry to Ecobank’s APIs to check and enhance their merchandise for the Pan-African market.
- Mentoring and Networking Support: Founders might be inducted as Ecobank Fintech Fellows, thereby, granting them entry to networking and mentoring alternatives inside the Ecobank Group and its huge community of world and African companions.
- Integration With Existing Ecobank Digital Offerings: Fintechs can probably combine with Ecobank’s current digital choices. Also, Ecobank will like candidates to pitch how their options can add worth to the financial institution’s current digital choices.
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Criteria – Pain Points Of What The Innovation ought to Center On
Ecobank is searching for the next qualities. The financial institution is searching for merchandise that provide options and improvements within the following areas;
Customer
Experience
- Digital buyer onboarding (shoppers, SME/Merchant, Investment Banking)
- Improve buyer expertise at branches
- Improve buyer expertise on-line
- Digitization of the client journey
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Credit Scoring
Innovative
options that assist enhance lending to SMEs. For instance:
- 360o
view on prospects and prospects of monetary actions - Digital
lending for SMEs
Ecosystem
Aggregation
Innovators providing options within the following areas:
- SME/Merchants onboarding on fee integration
- Niche service provider aggregation
- Providing quick access to non-smart telephone customers
Internal
Tools
- A digital resolution to enhance efficiency of salesforce
- Agency banking: options that allow brokers to supply extra companies
Payments
The group additionally
search improvements that may remedy issues round;
- Offline
Mobile to Mobile funds (Dead Zones)
Any Other
Relevant Product Categories
- Any different resolution that can revolutionize the banking sector in Africa.
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How It Works
The step is to use. If you’re profitable, you’ll be shortlisted. Then, you observe up on the levels.
Interested Fintechs can apply by sending particulars of their product and demo. These merchandise should tackle a number of of a particular set of ache factors highlighted.
In the tip, all finalists might be inducted into the Ecobank Fintech Fellowship, which affords them the chance to discover offers, integration and industrial partnership with the Ecobank Group.
To learn extra and apply, click on here
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