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Tuesday, April 02, 2019/01:15PM / Wema
Bank
Wema Bank’s maiden hackathon, Hackaholics, announced its
winners at a grand finale on Sunday, March 31, 2019. The event, hosted at
Codeville, Wema Bank’s innovation lab, brought together some of the brightest
minds in the country to be part of various activities including keynote
addresses, panel discussions and training programs for the participants by
Osmosis.
Hackaholics brought together startups and young tech
professionals to brainstorm, strategize and create solutions to the problems
presented. Solutions were screened by a team of judges who announced the winner
at the grand finale.
Among a number of groundbreaking solutions from the 20
participating teams, Team EazyChange won
with a solution that provides simpler payment for transportation. The solution
is programmed to ease the problem of scarcity of lower denominations for
transport fare within Lagos and other states. The winning team received the
$10,000 prize and will also join the bank for a period of 6 months.
Team 2i became the first runners-up for a
backend solution designed to solve problems in Know Your Customer (KYC). Team Lendse came out as the second
runner-up for creating a solution that tackles alternative credit scoring for
financial institutions.
Besides the winning teams, participants who impressed
with their ideas and work attitude will gain access to incubation and
acceleration programs at the Wema Bank’s innovation lab, Codeville. The
innovation lab will help nurture tech solutions and other business ideas into
marketable brands through investment opportunities, business support and
mentorship.
The bank also used the platform to announce Ignite by Wema, a special business account for micro,
small and medium enterprises. The
all-inclusive account will support MSMEs to upgrade their businesses through
partnerships with the bank, leverage on the bank’s network and marketing
channels, provide access to business advisory, incubation benefits and
concessions on business loans of up to N3m.
Hackaholics was organized in partnership with
Scooper and Ntel who provided media support and internet services respectively.
Wema Bank will continue its track record of creating and promoting platforms
that will pave the way towards building the future of Nigeria’s fintech and
business sectors.
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