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Ecobank steps up ‘Fintech Challenge’ with $500,000 prize money

To grow Nigerian youth’s fortunes on financial technology (FinTech), pan African bank, Ecobank has established a special prize fund to be won by developers and innovators with bright ideas for financial technology in a contest coming up soon.

The deal is designed to assist emerging techpreneurers share their vision of creating Africa’s next big fintech solution with them.

Already, the bank has set aside, up to $500,000 prize money to be won by technopreneurs who successfully pitch the most interesting and viable solutions. This, in summary, is what the Ecobank Fintech Challenge (EFC) is about. But there’s more to it.

According to the scheme, the EFC begin with innovative startups submitting their applications addressed as Fintech Challenges.

The bank explained further that shortlisted applicants will get to pitch their idea at the Ecobank Innovation Fair for the chance to win cash prizes and get support from Ecobank to roll out their solution across 36 African countries. They’ll also get mentoring opportunities and have access to Ecobank’s vast network of partners.

Interested applicants can go online and fill up the form and submit same.

The bank noted that contestants will be judged based on user experience, implementation practicality, functionality, innovation, and commercial prospects.

Ecobank said “Only entries that are adjudged to have met the selection criteria will be shortlisted for the pitch stage and applications will be received until April 14, 2017”.

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