Stanbic Bank Ghana last Friday announced the ten finalists for the Stanbic Money App Challenge which was launched in March, 2016 with the aim of engaging programmers and software teams to create innovative financial education tools.
The finalists for the App Challenge are Easy Finance, Finance Now, FinTimes, Kasanoma, Kudify, Money Matrix, Sikapong, Stanbic Saver, Y2K and Zealous.
The ten finalists during the interaction review session with the judges demonstrated how their apps work. The App Challenge, a national mobile app development competition, forms part of the Bank’s Corporate Social Responsibility.
25 financial literacy app prototypes built for Andriod and IOS platforms were submitted for the App Challenge. These apps had various ingenious tools designed to help people better understand how to manage their money and achieve their financial goals.
Mr Mawuko Afadzinu, Head of Marketing and Communications at Stanbic Bank Ghana spoke with GhanaGist.Com after the session.
His impressions about the various apps!
“You look the array of ideas that had come together and you could clearly see behind the different concepts presented and it speaks to the brilliance in this country and the fact that we have within ourselves the capacity to develop apps to make a difference in a very significant sector of the economy and in our lives.
The idea behind the competition!
“What we try to do with this competition is to get a very clever ideas, come together and translated into a form that has real meaning to people, very practical easy to use and very much a tool that enable people have a better handle and grip of their personal finances, over their financial lives.”
Does he have any favourite?
“Actually quite a number and I’m so glad that I’m not a judge because of the challenge and the difficulty of picking up the best from such an impressive collections is going to be a huge one.”
“Again, as I keep saying, this is a process and by the end of this process should be applications that can touch lives in a very significant ways that will become meaningful means of giving people access, that will enable people to have a better control of their personal financial lives; that would generate and inspire very good financial health and ultimately that would be a tool for growth for the people of this country,” he ended.
What happens to the other 7 apps after?
“The other 7, we would recognize all of them. Indeed the first stage of saying that they are part of a special good is what we have today and we would give opportunity for the general public to see the entire collections of the ten finalists because its amazing” he said.
“Again knowing the lessons of life, you don’t know what is going to happen to the others. You don’t know which one might be number ten on the decisions lists of our judges but would turn out to be the most amazing financial literacy app that we will have in this country.”
Each submission was evaluated and the ten finalists were determined based on conformity with financial literacy, creativity and originality of solution, viability of the concept, and thoroughness of the submitted materials in compliance with contest requirements.
Winners would be picked on August 24, 2016 with prizes presented on September 19, 2016.
The winner of the competition takes home GH¢ 10,000, the second place takes homes GH¢ 5,000 with the third place getting GH¢ 3,000. In addition to the cash prizes, all ten finalists will receive goodies from Stanbic.
Watch the finalist demonstrate our their apps work