Ecobank Fintech Challenge 2022

About the Challenge

The Ecobank Fintech Challenge identifies and partners Fintechs that are ready to scale and provides them with support and access to opportunities in Ecobank’s 33 African markets. The goal? To contribute to their growth as potential Pan African Fintech success stories.

The 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 here. These products must address one or more of a specific set of pain points which can be found here.

The selected finalists participate in the Ecobank Fintech Challenge Grand Finale. The ultimate winner for 2022 will be awarded a cash prize of $50,000. 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.

What’s in it for you

Benefits and Opportunities: Become a finalist; get inducted as an Ecobank Fintech Fellow and stand a chance to explore the following opportunities:

• Multinational Product Roll Out.
• Competition Cash Prizes.
• Service Provider Partnerships.
• Access To Ecobank’s Pan-African Banking Sandbox.
• Access To Partner Network.
• Integration With Existing Ecobank Digital Offerings.

Timeline

What we’re looking for

Customer Experience
We are looking for futuristic and innovative Fintech products in the following areas:

• Improvement of customer experience both online and at the branch
• Management of complaints on the Digital channels.
• Digital solutions using analytics/customer insights and AI to offer tailored adverts
• Acceleration of resolution process
• Digitization of customer journey
• Proactive support to customer
• Personalized Customer Interaction (Self-service)
• Defined reporting outcomes to measure value

Financial Inclusion
We welcome cutting-edge solutions capable of improving the lending process to SMEs:

• Digital customer on boarding (Consumers, SME/Merchant, Investment Banking)
• Increasing our payment wallet size across our network

Credit Scoring
We welcome cutting-edge solutions capable of improving the lending process to SMEs:

• 360° view on customers and prospects’ financial activities with other FIs
• Digitization of the lending journey for SMEs

Ecosystem Aggregation
We are interested in dynamic innovations in the following areas:

• SME/Merchants onboarding and payment integration
• Niche merchant aggregation through tailored solutions per sector
• Facilitate mobile collections with merchants that enable synchronization and consolidation with our Xpress point system

Internal Tools
We are looking for:

• Digital solutions which improve sales force performance

Payments
We’d be happy to learn how you can help us solve problems around:

• Offline mobile to mobile payments (Dead Zones)
• Increasing our payment wallet size within the African context

Any Other Relevant Product Categories
Any other solution that will revolutionize banking and payments in Africa.