Ecobank Group has introduced Ghana’s AI fintech firm, Nokwary Applied sciences because the winner of its Ecobank Fintech Problem 2020. This adopted a extremely aggressive digital finale that includes the final 10 finalists chosen from a pool of over 600 candidates throughout Africa, Europe, North America and Asia.
Nokwary Applied sciences emerged winners after warding off sturdy competitors from the opposite finalists. South African e-payment service Ukheshe Fee took the primary runner-up place whereas one other Ghanian fintech, Progress Issue Applied sciences grabbed the second runner-up spot.
Urged Learn: No Nigerian Startup Made the 2020 Ecobank Fintech Problem Finals
Ecobank Group CEO, Ade Ayeyemi counseled the taking part finalists for his or her top-notch performances: “The quality of the products and pitches we saw in the final this year was amazing. Clearly it is evident that Banking in Africa is moving onto a new dimension with these Fintechs leading the way.”
High Three Winners
Co-founded by Dennis Asamoah Owusu who additionally doubles as CEO, Nokwary Applied sciences is a Ghanaian fintech firm that employs synthetic intelligence to supply monetary options. Nokwary operates a WhatsApp-based banking service within the nation that permits customers to become profitable transactions by way of fundamental actions resembling voice instructions and texts.
Talking in regards to the startup’s win on the Ecobank Fintech Problem 2020, Nokwary CEO Dennis Asamoah stated, “I used to be past excited. Our firm is moderately younger and to be acknowledged like this on such a stage was actually thrilling in addition to a validation for our concentrate on creating inclusive know-how proper from the beginning.
“It is also very encouraging to note that a major bank like Ecobank places such a premium on inclusion and is willing to back and promote innovative and cutting-edge technologies towards that purpose. We are looking to work together with Ecobank to bring an AI-first digital banking platform over WhatsApp, as well as other innovative solutions to Ecobank’s customers.”
Ukheshe, an digital fee platform from South Africa affords digital banking and on-line fee providers to people and MSMEs. Ukheshe permits unbanked merchants to course of monetary transactions through its QR card system. The startup was based in 2018 by Jason Penton and Clayton Hayward.
Finishing the highest three winners on the finals was one other fintech startup from Ghana, Progress Issue Applied sciences, based in 2018 by Kelvin Tyron and Ndifreke Anwanakak. Progress Issue’s flagship product, Nvoicia, supplies commerce financing options to small companies by enabling them to realize entry to collateral-free working capital by way of bill discounting.
Money Prizes and Becoming a member of the Ecobank Fintech Fellowship
First place winner Nokwary will probably be rewarded with a cash prize of as much as $10,000. First runner-up Ukheshe will probably be awarded a cash prize worth $7000 whereas second runner-up Progress Issue is to obtain a $5000 cash prize.
We’re so proud to have had them on this 12 months’s competitors and are excited to have interaction additional with them over the subsequent 12 months. It’s our expectation that we are going to construct a number of lasting partnerships which is able to assist enhance the lives of Africans all around the continent.
Ecobank Group CEO, Ade Ayeyemi
All ten (10) finalists have been formally inducted into the one-year Ecobank Fintech Fellowship program which is able to grant them the privilege to discover alternatives for industrial partnerships with the Ecobank Group. It can additionally help them to launch and scale merchandise throughout Ecobank’s 33 nation markets in Africa.
