Call for Applications: Ecobank Fintech Challenge 2018 for African Start-ups

Ecobank is looking for solutions that improve international trade and eCommerce processes by facilitating KYC and AML requirements. The solutions may reduce document management processes without compromising regulatory requirements, increase ease of payment, provide reduced charges and decrease reliance on FX.
Applications are closed
8 months ago

Fintech Challenge Areas
 
• Digital Onboarding/Account Opening/KYC: Ecobank is looking for solutions that address remote or digital verification of customer data (KYC) to enable real-time account openings, such as: 
o GPS Address Verification Service 
o Identification Document Verification & Matching with Face/Photo
 
• Remittances: Ecobank is looking for solutions that increase inflow to Africa from other parts of the world, or delivery of instant transfers at secure, cheaper rates within Africa or across borders.  These include areas such as: 
o International Inward Remittance to Africa
o Cross border transfer with Africa
o Cross Border payments
 
• Digital Sales/Marketing: Ecobank is looking for solutions to drive sales or marketing campaigns of Ecobank Products & Services, such as the Ecobank Mobile App, Chatbot, Internet Banking & USSD.  The solutions must drive usage and adoption of: 
o Ecobank QR Push Payment at stores and locations, 
o Xpress Cash Token on ATM or Agent Points
o Xpress Agency Banking
 
• Offline Mobile to Mobile Payments (Dead zones): Ecobank is looking for solutions that enable customers to carry out mobile transaction services without internet and SMS/2G connectivity. These types of solutions will typically use offline wallet system.
 
• Multi-channel Corporate Payments/Collections Ecosystems: Ecobank is looking for solutions that offer a multi-channel experience solution providing single user security and functionality for payments, collections, liquidity management, supply chain finance and trade finance, with multiple redemption points, Mobile banking, wallet, bank account and ATM.
 
• SME Intra-Africa Trade Platform: Ecobank is looking for solutions that improve international trade and eCommerce processes by facilitating KYC and AML requirements. The solutions may reduce document management processes without compromising regulatory requirements, increase ease of payment, provide reduced charges and decrease reliance on FX.
 
Benefits
• Competition Cash prizes: The three top winners at the Innovation Fair will be awarded $10,000, $7000, and $5000 cash prizes respectively.
• Multinational product roll out: Once in a lifetime opportunity to launch products in Ecobank’s over 33 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.
 
Eligibility
• All African start-ups, and start-ups with solutions for Africa are eligible to apply to the fintech challenge
 
Application
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.
 
Dateline for submission: May 23, 2018
 
Source: Ecobank
 

Illustration Photo: QR Push Payment in a store. Jakarta, Indonesia. (credits: Yosomono / Flickr Creative Commons Attribution 2.0 Generic (CC BY 2.0))

Read more

Comments

No comments to display.

Related posts

A Comprehensive IoT Node Proposal Using Open Hardware. A Smart Farming Use Case to Monitor Vineyards

The last decade has witnessed a significant reduction in prices and an increased performance of electronic components, coupled with the influence of the shift towards the generation of open resources, both in terms of knowledge (open access), programs (open-source software), and components (open hardware).

EU's Call for Proposals: Regenerative medicine: from new insights to new applications

Regenerative medicine offers hope for untreatable disease and the ageing population, improved quality of life and reduced medical costs. However, so far, regenerative medicine has not yet proved itself in the clinic beyond rare diseases or conditions of limited public health importance. With recent scientific discoveries opening up new approaches to regenerative medicine, the challenge is to use these to extend the regenerative approach to major diseases and conditions.
Application Deadline in 4 months

Mobile money holds key to financial inclusion in Africa, experts say

More than 10% of adults in sub-Saharan Africa have a mobile money account, the highest in the world, and it is spreading to West Africa and beyond.

EU's Call for Proposals: Innovative approaches to urban and regional development through cultural tourism

The various forms of cultural tourism in Europe are important drivers of growth, jobs and economic development of European regions and urban areas. They also contribute, by driving intercultural understanding and social development in Europe through discovering various types of cultural heritage, to the understanding of other peoples' identities and values. However, although cultural tourism by its nature invites cross border regional and local cooperation, its full innovation potential in this respect is not yet fully explored and exploited.
Application Deadline in 3 months

UMITRON secures US$2 million project funding to deliver IoT and AI technology to drive growth of sustainable aquaculture

IDB Lab's grant resources will be used by UMITRON and Piscis to test and calibrate UMITRON's AI feeding technology. Additionally, funds will be used to both train local producers and scale up UMITRON's solution in the Lake Titicaca region. The end goal is to implement data-driven aquaculture feeding technology for farmers in Peru and eventually all of Latin America.

Call for applications: UN SDG Action Awards

Every year, the UN SDG Action Awards recognize individuals, civil society organizations, subnational governments, foundations, networks, private sector leaders who are advancing the global movement for the Sustainable Development Goals in the most transformative, impactful and innovative way.
Application Deadline in a month

Call for applications: DOEN Foundation Circular Entrepreneurship Programme 2019 for young Social Entrepreneurs

DOEN is looking for sustainable, social entrepreneurs with innovative products or services that will contribute to the creation of this new circular economy. We are looking for people who dare to take risks and seize new opportunities. People who come up with new solutions or business models.
Application Deadline in 2 months

Call for collaborative projects: IoT4Industry - Application of IoT technologies in the manufacturing environment

The IoT4Industry project seeks to support EU growth and competitiveness through the development of a new cross-sectoral industrial value chain based on the integration and use of IoT and related components (sensors, chips, electronics component, communication networks, cloud computing, Big Data, Artificial Intelligence, digital security, etc.) into manufacturing tools, machines and robots, industrial processes, factories environment, supply chain integration, intra logistics & logistics 4.0 product life cycle, smart packaging, etc.
Application Deadline in a day

ESA's Call for Proposals: Space and Biotechnology

The European Space Agency’s “Space and Biotechnology” opportunity offers support and funding to companies looking to develop biotechnology services that can benefit from using space-based data or capabilities.
Application Deadline in a month

The Shell GameChanger™ Accelerator Powered by NREL Announces First Cohort of Start-Ups

Each participating startup will receive as much as $250,000 in non-dilutive funding to aid in development and demonstration of its technology, with the opportunity for future follow-on funding and beta-testing with a strategic program partner, in addition to access to expertise and laboratory capabilities at both NREL and Shell.