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  Applications are now open for the Ecobank FinTech Challenge 2021. FinTechs in Africa is invited to enter the competition, which will see winners secure a grand prize of $15,000, and the opportunity to reach all 33 countries in which Ecobank has a presence.
Read more about Opportunities
Ecobank sees the competition as a vehicle through which it can partner with the best of the continent’s financial technology startups, and enable their success. Winning startups will have their solutions integrated with the bank’s digital platforms, and get support to scale across Africa.

Benefits

  • Winning teams could see their products scaled launched across over 30 counties in which Ecobank is present
  • The top three winners will receive cash prizes of $15,000, $12,000, and $10,000 respectively.
  • They could become a country-level partner in any of the countries in which Ecobank has a presence
  • Winners will get access to a dedicated team that’ll support them as they improve their products for the African market
  • They will get access to Ecobank’s network of accelerators, mentors, and investors
What Ecobank Is Looking For Ecobank says it’s seeking startups that tackle problem areas in customer experience, financial inclusion, credit scoring, ecosystem aggregation, internal tools, and payments.
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Specifically, it’s looking for solutions that utilize cutting-edge technologies to accelerate the generation of customer insights, digital customer onboarding, digitization of the lending process for SMEs, and a full view of customers and prospects’ engagement with other financial institutions, among others. There’s more on this at the Ecobank Fintech Challenge website.

How The Challenge Will Unfold

FinTechs can apply by submitting details of their product and a demo at the Ecobank FinTech Challenge website. The product should address one of the problem areas listed above. Applications will remain open until September 20. After applications are closed, a shortlist of applicants will be arrived at. Startups in the shortlist will be invited to upload their product for sandbox evaluation in mid-October. Finalists will emerge from this stage. Finalists will pitch at the Ecobank FinTech Challenge event, after which the top three winners will be awarded cash prizes; all finalists will be inducted into the Ecobank FinTech Fellowship. Between November 2021 and April 2022, inductees into the Fellowship will have an opportunity to explore deals and partnerships with the Ecobank Group. Again, the deadline for applications is Monday, September 20, 2021. To enter the Ecobank FinTech Challenge 2021, click here. Featured Image Source: Opportunity Desk
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This article was first published on 16th August 2021

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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