Ecobank Group has launched its FinTech challenge for this year 2023 with cash prize to the tune of $50,000 up for grabs.

The bank Is therefore, inviting innovative and ambitious African FinTech entrepreneurs from across Africa to apply to participate in the 6th edition of its Ecobank Fintech Challenge.

Similar to previous editions, the Fintech Challenge offers exceptional prospects for Fintechs that align with Ecobank’s strategic objectives, enabling them to partner and scale their innovative solutions across the bank’s extensive network of 35 African markets as well as its international operations in France.

Successful applicants reaching the grand finale will also have the opportunity to join the prestigious Ecobank Fintech Fellowship programme. The highly-anticipated grand finale and awards ceremony are scheduled for late September.

For the second year in a row, the overall winner will be awarded a grand cash prize of US$50,000.

Ecobank Fintech Fellows will also benefit from the following opportunities through their collaboration with Ecobank and its partners:

Multinational product rollout: an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African ecosystem.

Service provider partnerships: Selected fintechs may be chosen as Pan-African service partners within the bank’s ecosystem.

Access to Ecobank’s Pan-African Banking Sandbox: Fellows will receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and improve their products for the Pan-African market. There is also a priority access to Ecobank’s Venture Capital partners for funding exploration

Applications are now officially open to fintechs and developers from all African countries as well as global Africa-centered fintechs.

Applications are open until July 21, 2023.

Jeremy Awori, Chief Executive Officer, Ecobank Group, reflecting on the impact of the Fintech Challenge, said over the past six years, the Fintech Challenge has welcomed a significant number of fintechs, with six participants successfully partnering with Ecobank to launch innovative products that have been rolled out across our markets. “Indeed, these collaborations have played a significant role in transforming Africa’s digital landscape and driving financial inclusion”.

Tomisin Fashina, Operations and Technology Executive, Ecobank Group, noted that the Ecobank Fintech Challenge has become Africa’s premier FinTech competition, driving scalability for African FinTechs.

Tomisin Fashina further observed saying “through this challenge, we identify talents who can support Ecobank’s mission to remain bold and innovative, driving pan-African prosperity for the continent”.

The Ecobank Fintech Challenge was designed in partnership with international advisory firm, Konfidants, and is supported by various partners.

The bank said It is proud to play a defining role in developing and supporting Africa’s FinTech to help transform digital finance and banking.

Its main purpose is to contribute to the economic and financial development of Africa. With innovative solutions including Ecobank Mobile (the first unified app for Africa) and EcobankPay (the new standard for cashless payments), it is leading the way.

By leveraging its footprint across 33 African countries, the bank provides the scale that its fintech partners are looking for.