Ecobank Fintech Challenge is a project of Ecobank Group. As a pan-African banking conglomerate, the Bank seeks to 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.
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How to apply for Ecobank Fintech Challenge 2020
Eligibility
- The Ecobank Fintech Challenge is open to all Fintechs on the African continent
The bank is looking for products that can offer solutions and innovations in the following areas:
- Digital customer on-boarding (consumers, SME/Merchant, Investment Banking)
- Improve customer experience at branches
- Improve customer experience online
- Digitization of the customer journey
- Innovative solutions that help improve lending to SMEs. For example: 360° view on customers and prospects of financial activities and Digital Lending for SMEs
- SME/Merchants on-boarding on payment integration
- Niche merchant aggregation
- Provide easy access to non-smart phone users
- Digital solution to improve performance of sales force
- Agency banking: solutions that enable agents to offer more services
- Offline Mobile to Mobile payments (Dead Zones)
- Any other solution that you believe will revolutionize the banking sector in Africa.
Interested Fintechs can apply by sending details of their product as well as a demo here.
Benefits and Opportunities
- Once in a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.
- The top three winners at the Challenge will be awarded $10,000, $7000, and $5000 cash prizes respectively.
- Start-ups may be selected by Ecobank as local country-level partner in any of Ecobank’s 33 country ecosystem.
- Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.
- 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.
- The Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings.
Applicant Journey/Timeline
- February – Mid April 2020 – Application process
- May 2020 – Applicants are shortlisted
- May 2020 – Applicants get access to sandbox
- Early June 2020 – Announcement of finalist
- Late June 2020 – Finalist pitch at a challenge event
- Late June 2020 – Winners get inducted into Ecobank fintech fellowship
- July – December 2020 – Winners have opportunity to explore commercial partnership opportunities with Ecobank group