Wema Bank, creators of Nigeria’s first fully digital bank, ALAT, is spearheading future innovations in Financial Technology with the second edition of its technological expo – Hackaholics 2.0.
The digital exhibition is part of the bank’s initiative to expand its digital innovation beyond being the first fully digital bank in Nigeria. The event which will be a 2-day pitching competition will be held online from October 30 – 31, 2020 and will feature leading industry specialists as the marked judges.
Earlier in 2019, the bank held the maiden edition of Hackaholics which attracted 463 start-ups to solve problems in nine different areas. The top twenty were invited for a 3-day hackathon and the winners, Eazychange received $10,000, in funding for their transport management solution. To develop the ideas presented at the hackathon into tech-driven commercial solutions, Wema Bank’s Innovation team further engaged six of the startups of which some of them have launched, been absorbed into the bank and the last batch set to launch as they were further developed at an incubation and acceleration program tagged “The Hackaholics Bootcamp”; the Bootcamp helped in transforming their products into working solutions.
With the launch of ALAT, Nigeria’s first digital bank in 2017, we showed the world that it was possible to hack and redefine experiential banking. Since then, we have taken it a step further with the birth of Hackaholics – the Wema bank hackathon.
Hackaholics by WEMA is set up to promote the development of technological solutions for financial and institutional needs, and other everyday social issues.
It brings together developers, designers and creative thinkers to develop products and discover new technologies. Example of such applications includes innovations in risk management, trading, investing, personal finance, big data, retail banking, regulatory compliance, mobile payments and enterprise social, environmental and health issues.
The 2020 edition of the Wema Hackathon tagged ‘Hackaholics 2.0’ will be hosting participants virtually in a two-day pitch competition to exhibit innovative solutions with excellent market potential, capable of solving essential, everyday business problems under five (5) major verticals – Agritech , Healthtech , Edutech , Fintech and Gaming.
Successful startups will proceed to a 4-week Accelerator Bootcamp Programme – A programme focused on creating commercialisation opportunities for participating startups, leveraging best-in-class curriculum and global footprint to nurture and strategically position startups to scale up as they launch into the market.
Hackaholics 2.0 Agenda
- Pitch Date – OCT 30th – OCT 31st, 2020
- Start Bootcamp – NOV 5th – DEC 2nd, 2020
- Bootcamp Closure/Final Pitch – DEC 5th, 2020