Frequently Asked Questions

  • Ecobank Fintech Challenge is a pan-African innovation competition and start-ups partnership offering by Ecobank. It is designed to inspire, support and partner African start-ups and developers with the aim to facilitate the development of innovative “FinTech” and banking related solutions.
  • Teams are to submit applications addressing one or more of the following challenges
    1. Predictive analysis using big data
    2. Agency banking
    3. Secured client authentication
    4. Apps to work without internet connectivity
    5. KYC technology
    6. Customer analytics
    7. Credit scoring
    8. Micro Loan System
    9. User experience optimizing solutions using machine learning and AI
    10. Blockchain technology/solutions within Banking
    Any other Fintech solution
  • Competition Cash prizes: the three top winners at the Innovation Fair will be awarded $10,000, $7000, and $5000 cash prizes respectively.
  • Start-up Funding: after the competition, Ecobank may invest up to $500,000 in selected start-ups/products with immense prospects.
  • Multinational product roll out: once in a lifetime opportunity to launch products in Ecobank’s over 30 markets across Africa through strategic partnership.
  • Service provider partnerships: start-ups may be selected by Ecobank as a pan-African service partner within Ecobank’s giant 36 country ecosystem.
  • Mentoring and networking support: founders will be conferred as Ecobank Innovation Fellows for a period of one year, granting them access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners.
  • All African startups / individual innovators are eligible to apply to the fintech challenge.
  • No, the competition is free to join.
  • The application is open till 11pm GMT, April 14, 2017.
  • Yes, you can enter more than one fintech solution in the competition. However each product or solution you apply with must be distinct. You should not submit two solutions in one application form. Each of your solutions/products must be entered as a separate application.
  • Yes, you can apply as an individual.
  • Yes. But each product must be submitted by filing a separate application form.
  • Yes. You will be disqualified if you do not submit a demo.
  • A demo should be able to give fair idea of what a very final and actual product will look like. Real time data can be mocked for demonstration purposes. You can also make use of sandboxes from third parties you are likely to be connecting to in a real environment.
  • All African startups / individual innovators are eligible to apply to the fintech challenge.

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