Background

Frequently Asked Questions

Ecobank Fintech Challenge is a pan-African innovation competition and business partnership offering by Ecobank. It is designed to inspire, support and partner African Fintechs, with an aim to expand the reach of innovative “Fintech” and banking related products.
Teams are to submit applications addressing one or more of the following challenges

Customer experience
  • Digital customer onboarding (consumers, SME/Merchant, Investment Banking)
  • improve customer experience at branches
Credit Scoring
  • 360° view on customers and prospects of financial activities
  • Digital Lending for SMEs
Ecosystem aggregation
  • SME/Merchants onboarding on payment integration
  • Niche merchant aggregation
  • Provide easy access to non-smart phone users
Internal tools
  • Digital solution to improve performance of sales force
  • Agency banking: solutions that enable agents to offer more services
Payments
  • Offline Mobile to Mobile payments (Dead Zones)
Any other relevant product categories
Become a finalist, get inducted as an Ecobank Fintech Fellow and stand a chance to explore the following opportunities:

  • Multinational product roll out:
  • Once in a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.

  • Competition Cash prizes:
  • The top three winners at the Challenge will be awarded $10,000, $7000, and $5000 cash prizes respectively.

  • Service provider partnerships:
  • Start-ups may be selected by Ecobank as a pan-African service partner within Ecobank’s giant 33 country ecosystem.

  • Access to Ecobank’s Pan-African Banking Sandbox:
  • Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.

  • Mentoring and networking support:
  • 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.
All Africa based Fintechs are eligible to apply to the fintech challenge
No, the competition is free to join.
You can apply to the fintech challenge by filling this application form.
The application is open till 11pm GMT, 12 April, 2020.
Yes, you can enter more than one fintech product in the competition. However, each product you apply with must be distinct. You should not submit two products in one application form. Each of your 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 demonstrate how the product works and what it looks like in action. Real time data can be mocked for demonstration purposes. You can also make use of Ecobank’s sandbox and Fintech marketplace to upload your product.