Some media practitioners at the launch
Innovative online sports betting enterprise, Betway, has announced a three-phased competition that they will be running titled the Betway Fintech Challenge.
Betway, whose success can be attributed to the ease-of-access they have introduced for sports betting fans using digital platforms in everything from banking and security to betting, announced the competition today at the Accra Digital Center.
Betway has an intrinsic interest in furthering the cause of those in digital development (especially as they themselves introduced mobile money deposits and withdrawals) and in the financial services industry.
The contest is open to legal Ghanaian residents aged 18 and above and will accept applications from February 19, 2019 to March 8, 2019 in the following categories; Customer Connection & Experience Innovation; solutions that enable merchants and customers to make payments in new ways.
Thus any product that meets the need for cheaper, faster and easier payment processes, capable of engaging and activating the under-served and under-banked populations.
Data-driven Design – Solutions that are characterized by their capacity to leverage the data gathered in a primary business into financial services, and may reduce transaction costs and improve decision-making, including using analytics to enhance risk and customer segmentation decisions.
Investment & Wealth Management – Solutions that will enable the provision of wealth management / investment services in new and unique ways.
Block chain – Solutions that will use the concept and principles of block chain technology to build trust and transparency in financial services that will promote greater financial inclusion.
Organizational or Process Transformation – Solutions that focus on disrupting a traditional process in any industry that requires payments and new ways to enhance service delivery.
Shortlisted finalists will be taken through training and workshops designed to equip them with knowledge on raising funds, pitching, branding and marketing amongst others, as well as new models and applications in the financial services space.
To enter into the Betway Fintech Challenge, interested persons should visit https://www.betway.com.gh/betwayfintechchallengeor pick up a form from the Concept Stores at Adabraka in Accra and Amakom in Kumasi.
The five (5) finalists will be invited to pitch their start-up vision to a panel of judges. At the end of each pitch the judges will evaluate finalists based on problems addressed, market size and growth potential, differentiated solution and performance and traction with customers. Three winners will be announced on May 17, 2019. The grand winner, first runner-up and second runner-up will take home GH¢ 20,000, GH¢ 15,000 and GH¢10,000 respectively. All shortlisted finalists for the final round (5) will receive GH¢1,000.
Betway Country Manager of Operations, Magnus Rex Danquah Jnr., at the launch, stated that the main objective of the challenge was to create a competing environment for entrepreneurs to come up with solutions to help address challenges in bringing Ghanaian society to adopt digital mediums when it comes to banking, transaction, personal finance and investing.
“The Betway Fintech Challenge will offer developers in Ghana an opportunity to design applications which will help address some of these problems identified in our society.”
From The Sports Desk
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