The WEMA Bank Hackaholics 5.0 Hackathon is an innovative event that brings together technology enthusiasts, developers, designers, and entrepreneurs to collaborate on solving real-world challenges facing the financial sector. Organized by WEMA Bank, one of Nigeria’s leading financial institutions, the Hackaholics hackathon aims to drive innovation, foster creativity, and accelerate the development of digital solutions that can transform the banking industry.
Participants in the Hackaholics 5.0 Hackathon are invited to form teams and work on projects that address specific challenges identified by WEMA Bank. These challenges may encompass various areas of banking and finance, such as customer experience, financial inclusion, cybersecurity, digital payments, lending, and risk management. Participants are encouraged to leverage technology, data analytics, artificial intelligence, blockchain, and other emerging technologies to develop innovative solutions.
The hackathon provides participants with access to mentorship, resources, and support from industry experts, mentors, and experienced professionals from WEMA Bank and its partner organizations. Mentors offer guidance, feedback, and technical assistance to help teams refine their ideas, develop prototypes, and prepare their solutions for presentation to a panel of judges.
Throughout the hackathon, participants engage in intensive ideation sessions, coding sprints, design workshops, and collaborative problem-solving activities. The event fosters a culture of teamwork, creativity, and experimentation, encouraging participants to think outside the box and push the boundaries of innovation in banking and finance.
At the conclusion of the Hackaholics 5.0 Hackathon, teams showcase their solutions to a panel of judges, industry stakeholders, investors, and fellow participants. Projects are evaluated based on criteria such as innovation, feasibility, impact, scalability, and potential for implementation within WEMA Bank’s operations or the broader financial industry.
Winning teams of the Hackaholics hackathon receive various prizes, including cash rewards, incubation support, mentorship opportunities, access to funding, and potential partnerships with WEMA Bank and other organizations. Additionally, participants have the opportunity to gain visibility, recognition, and networking opportunities within the fintech ecosystem, positioning them for future success in their entrepreneurial endeavors.
the Hackaholics hackathon is characterized by its focus on fostering innovation and driving digital transformation within WEMA Bank and the wider financial ecosystem. By engaging with external innovators and leveraging the creativity and ingenuity of the developer community, WEMA Bank demonstrates its commitment to embracing emerging technologies and staying at the forefront of digital banking innovation.
In addition to solving specific challenges identified by WEMA Bank, participants in the Hackaholics 5.0 Hackathon have the freedom to explore their own ideas and pursue projects that align with their interests and passions. This open-ended approach encourages experimentation and encourages participants to think creatively about how technology can be applied to address diverse needs and opportunities in the financial sector.
Beyond the hackathon itself, WEMA Bank’s commitment to supporting innovation extends to providing ongoing opportunities for collaboration, partnership, and implementation of the solutions developed during the event. Winning teams and standout participants may be invited to further develop their projects through incubation programs, accelerators, or collaboration agreements with WEMA Bank and its ecosystem partners.
The WEMA Bank Hackaholics 5.0 Hackathon is a dynamic and collaborative event that harnesses the power of technology and innovation to drive positive change in the banking sector. By bringing together diverse talents and perspectives, the hackathon catalyzes the development of disruptive solutions that have the potential to reshape the future of finance and enhance the banking experience for customers in Nigeria and beyond.
Join the largest community of problem-solvers, visionaries, creative thinkers and Innovators in Africa, at the annual Hackaholics Ideathon, and together, let’s catalyze change with the enabling power of Technology. Hackaholics is a youth-focused startup competition aimed to provide a platform that enables innovators and startup founders with tech-driven or tech-enabled game-changing ideas and products to grow and blitz scale their ventures.
Benefits Of The WEMA Bank Hackaholics 5.0 Hackathon Submit
- Grant to build / scale solutions
- Support for product and integration
- Visibility for your team / solution
- Access to community of founders
- Coaching / Mentorship for founders
- Learn from renowned industry expert
Hackaholics 5.0 Prize
- Winner: N30M Worth of prizes
- First runner-up: N20M Worth of prizes
- Second Runner-up: N15M Worth of prizes
- Women-led team: N10M Worth of prizes
- University Stem Endowment: N15M Worth of prizes
Method of Application
- Step 1: Click apply now on the hackaholics Website
- Step 2: Input your contact details and information
- Step 3: Register your startup with your various founder(s)
- Step 4: Upload prototype/pitchdeck
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