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Fintech innovators across Africa have been asked to solve the continent’s most pressing banking issues, with a chance to win US$500,000 in the Ecobank Fintech Challenge.

Ecobank has launched the Challenge with a view to partnering with developers and innovators across Africa, to transform finance on the continent through technology and innovation.

The bank said the Challenge is designed “to inspire, support and partner African startups and developers with the aim to facilitate the development of innovative fintech and banking related solutions.”

Applications are invited across 10 focus areas.  These are predictive analysis using big data; agency banking; secured client authentication; apps to work without internet connectivity; KYC technology; customer analytics; credit scoring; micro loan system; user experience optimizing solutions using machine learning and AI; and blockchain technology or solutions within banking.

20 entrants will be selected to pitch their solutions at the Ecobank Innovation Fair, to be held at Ecobank’s headquarters in Lomé, Togo, in May 2017.

Winning solutions will be awarded US$500,000 in funding, as well as expert mentoring, and access to the Ecobank ecosystem.

Ecobank highlights the opportunity for winners to partner with the bank to roll-out their solutions across 36 countries.

Entrants are allowed to submit one or more applications, covering one or multiple of the focus areas.

Applications can be made here, until April 14.

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