Ecobank is inviting African fintech entrepreneurs to enter its Ecobank Fintech Challenge.
Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century.
The initiative gives African start-ups the chance to promote their fintech solutions and stand a chance to partner Ecobank in rolling out their solutions across Ecobank’s 33 markets.
Speaking at the launch, Mr. Ade Ayeyemi, Group CEO, Ecobank Transnational Incorporated, reiterated Ecobank’s dedication to support innovations in banking and finance across the continent.
“We at Ecobank, believe that the current winds of change led by technology and innovation will redefine how banks do business, and indeed the relationships people have with their money. We want to be at the forefront of this change, in partnership with Africa’s rising start-ups, and that is why we created the Ecobank Fintech Challenge”.
Mr. Eddy Ogbogu, Ecobank Group Executive for Operations and Technology, said the first edition of the challenge was a success and they looking forward to another successful and more impactful one.
“The maiden 2017 edition of the Challenge proved that Africa has an impressive army of highly capable fintech start-ups. Ecobank is looking forward to another successful competition,” he stated.
Being the second edition, Ecobank is currently welcoming submissions from all start-ups and developers across Africa to enter its 2018 Ecobank Fintech Challenge.
Ten finalists will be selected to participate in an Awards and Innovation Fair at the global headquarters of Ecobank in Lomé, Togo in July 2018.
After a series of pitches from the finalists, a panel of judges will select the top three winners, who will receive cash prizes worth $10,000, $7,000, and $5,000 respectively.
However, all 10 finalists will also be conferred Ecobank Fintech Fellows and will qualify to explore opportunities to partner with Ecobank including, Multi-national product roll-out, Service provider partner deals and Mentoring and networking support.