Ecobank, Microsoft and a $500,000 FinTech Challenge

Ecobank has obviously decided to increase and improve its presence and participation in tech arena. This can be observed in resent strategic moves that extends to corperate social duties.
The transnational incorporated bank has partnered with Microsoft to complement African government’s efforts to modernise and raise the standards of the continent’s major cities through state of the art digital solutions.

The partnership will see to the modernisation of sectors that will have the most immediate and significant impact for African countries.

These sectors will include bursary, disbursements, and school fees collections in he education sector, market shop and small vendor municipality collections, vehicles and driving licensing as well as Vis and passport fee collections.

The partnership will also supports the implementation of a comprehensive skills and a digital literacy programme.

Other key areas such as land registration and fee collection in the municipal and hospital services are all expected to see some tremendous modernisation.

Ecobank and Microsoft signed a MoU

Following the rise in the need for financial solutions in Africa, Ecobank also has challenged developers, programmers and FinTech innovators all over Africa to join forces in combating the continent’s most pressing banking issues, and proffer lasting solutions that would transform Africa’s finance through technology and innovation.

The bank is doing this through $500,000 FinTech challenge for African startupsn. Asides the chance to win up to $500,000 funding, the Ecobank FinTech Challenge affords applicants benefits such as partnership with the bank, full Pan-African visibility, multi-national exposure and the list goes on.

All African startups and technology innovators are eligible to apply for the challenge, are to choose from different areas of interest and build a demo to serve as prototype

A total of 20 teams will be selected to pitch at the bank’s Innovation Fair, which will be held at the global headquarters of Ecobank in Lomé in May, 2017.


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