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WazInsure


Season 2 winner

insight2impact
Winner of the DataHack for Financial Inclusion, Season 2 is

WazInsure

WazInsure developed supervised and unsupervised machine-learning models that analyse both internal and external data sources to predict the likelihood of a boda-boda driver claiming for a high-risk event. The model uses structured internal data from surveys conducted on drivers. The external data used includes unstructured and crowd-sourced data from social media platforms and others. The outputs of the analysis performed allow insurance providers to better assess risk for boda-boda drivers.

The finals took place in Kigali in May 2018, where WazInsure won the solution and was awarded US$ 25,000!

View Season 1
DataHack4Fi Final Highlights - Rwanda
Season 2 finale

Kigali, Rwanda

Winners from each country attended the finale in Kigali, Rwanda from the 7th - 9th May 2018, pitching their ideas to an expert panel of judges.

image_winners

DataHack4FI finale images

DataHack4FI Season 2 Finale - Kigali, Rwanda -Day 1 View images
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DataHack4FI finale video

DataHack4FI Season 2 finale - Kigali, Rwanda -Day 1 View video

Country finals

View the lists of finalists for both data scientists, and fintechs for your country, select your country on the left panel.

Country finals

Uganda, Kampala

Timeline

In Uganda, the timeline and activities are below. All in-person events will occur at Innovation Village. If you are not based in Kampala, we will skype you into sessions.

Datahack4FI, Uganda, Application deadline

Application deadline

January 26, 2018

Application deadline for data scientists

Datahack4FI, Uganda, Application deadline

Accepted data scientists

February 2, 2018

Accepted data scientists notified

Datahack4FI, Uganda, Application deadline

Meet-up 1

February 15, 2018

Pairing of the expert data scientists to the accepted fintechs

Datahack4FI, Uganda, Application deadline

Meet-up 2

March 8, 2018

Teams introduce themselves and share project idea



Video
Datahack4FI, Uganda, Application deadline

Ugandan Finale

April 19, 2018

Fintechs share their developed solutions

Images

Video
Datahack4FI, Uganda, Application deadline

Grand Finale

May 7, 2018

Ugandan winner invited to day of sharing solutions and networking amongst i2i partners and other country finalists

Images

Images

Video

Data scientists finalists

We are looking for expert data scientists to support and advise the fintechs on how to make better use of their data so that they can overcome the business challenges they are facing in serving low income customers. Applications could include; alternative data based credit scoring, data-driven customer segmentation etc.

Katto Dickson

  • Katto Dickson

Vitalis-Asiku

  • Vitalis Asiku

Edward Kashegu

  • Edward Kashegu

Kenneth-Legesi

  • Kenneth Legesi

Steven Ntambi

  • Steven Ntambi

Musisi-Brian

  • Musisi Brian

Nelson-Mulera-Mugisha

  • Nelson Mulera Mugisha

Otim Samuel

  • Otim Samuel

Sophie Nanteza

  • Sophie Nanteza

Fintech finalists

MOQUID Moquid
True African True African
Ezeemoney Ezeemoney
Sula Sula Pay
Mobicore Mobicore
Mambopay Mambopay
Mambopay NFT Consult
Akello banker Akello banker
Future Link Technologies Future Link Technologies

About Datahack4FI

The DataHack4FI is an annual innovation competition that promotes evidence-based decision-making for improved financial service provision to low-income individuals. The competition is targeting established fintech’s and pairs them with expert data scientists to unlock the potential of the fintech’s internal data. Fintech’s accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries (Ghana, Kenya, Mozambique, Rwanda, Senegal, Uganda and Zambia) and involved over 200 participants, from 58 different teams.

Who is behind it?

There are three partners behind the DataHack4FI competition in Uganda; insight2impact (i2i), Financial Sector Deepening Uganda (FSDU) and Innovation Village. i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion. FSDU is a non-profit funded by DFID seeking to develop a more inclusive financial sector with a focus on low-income individuals and Micro, Small and Medium Enterprises (MSMEs). Innovation Village is innovation hub in Kampala promoting new technologies, businesses, products, services and start-ups in Africa.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

Innovation_village Innovation village
FSDU FSDU
UKAID UKAID
Pegasus technologies Liquid telecom

NFT Consult - Winner of DataHack4FI Uganda

Problem statement: Agent networks provide critical infrastructure required to ensure last-mile delivery and to enable financial inclusion. However, agent networks are difficult to manage and optimise for a myriad of reasons. One such challenge is liquidity or float management for the agents, due to the lack of realtime visibility of key KPIs and fraud.

Solution: NFT Consult leveraged internal data from four client agent network managers to develop a liquidity management and float score. Of the 1 million transaction records selected, 30,000 were used to develop the score. This score will help to improve commission or sustainability and identify when an agent will not be able to serve its next customer. This, in turn, will improve the quality of service and strengthen the agent network to drive access to financial services.


MamboPay

Problem statement: A recent survey conducted in primary, secondary and tertiary institutions in Uganda indicates a poor savings culture among young people, especially students. Students in boarding schools receive money from their parents, yet they are not taught sufficient practical skills on personal finance management and savings. This could be partly because the students are not allowed to have mobile phones at school and therefore cannot engage in mobile financial services such as saving.

Solution: MamboPay enables pocket money remittances straight from a parent’s Mobile Money wallet to the Student’s MamboPay card. The card allows mobile money to be deposited, withdrawn or saved easily. Considering the transactional data that we accumulated over the years, we were able to run an analysis against different data sets to develop a savings product for the students to use. The product allows students to save a portion of their pocket money for future use in a fixed deposit account within MamboPay’s partner financial institutions. These accounts generate interest, adding to the incentives for students to save. The solution can be found by dialing *166*8# on MTN and selecting option 3 on the menu.

Country finals

Ghana, Accra

Timeline

Every Saturday from 9 February until 4 May 2018: Data Expert office hours at MEST – participating teams can engage the data expert for one-on-one mentoring and advice during their work. Between 9:30 AM and 12 PM.

Each event is 5:30-8PM. Representatives of financial service providers, established fintechs or other interested parties are very welcome to join all events from 28 February on. Please contact ashwin@meltwater.org to be added to the mailing list for up-to-date information about the events.

Datahack4FI, Uganda, Application deadline

Meetup 1

February 1, 2018

Introduction to Financial Inclusion and the DataHack4FI process

Video
Datahack4FI, Uganda, Application deadline

Meetup 2

February 28, 2018

Work done so far and the road ahead – where in the development process are you?

Video
Datahack4FI, Uganda, Application deadline

Meet-up 3

March 28, 2018

Data debrief and mock pitches

Video
Datahack4FI, Uganda, Application deadline

In-Country Finale

April 10, 2018

Participating teams present their solutions to a panel of judges.

Datahack4FI, Uganda, Application deadline

Grand Finale

May 7, 2018

In-country winner invited to a Pan-African finale of pitching to an international panel of judges

Images

Images

Video

Data scientists finalists

We are looking for expert data scientists to support and advise the fintechs on how to make better use of their data so that they can overcome the business challenges they are facing in serving low income customers. Applications could include; alternative data based credit scoring, data-driven customer segmentation etc.

Dexter Ouattara

  • Dexter Ouattara

Gabriel Addai Duah

  • Gabriel Addai Duah

Precious-Okafor

  • Precious Okafor

Tshepo Morabane

  • Tshepo Morabane

Samuel Mensah

  • Samuel Mensah

Stanley Elorm Ativor

  • Stanley Elorm Ativor

Terrence-Owusu

  • Terrence Owusu

Fintech finalists

InvestED, PBC InvestED, PBC
Invest XD Invest XD
AgricConnect AgricConnect
trotrotractor TROTRO Tractor
Inclusive FT Inclusive FT
PEG Africa PEG Africa

About Datahack4FI

Insight2impact’s DataHack for Financial Inclusion (DataHack4FI) is an African innovation competition that encourages finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities. The competition promotes evidence-based decision-making for improved financial service provision to low-income individuals.

The competition pairs data scientists with existing fintechs. Fintechs accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries and involved over 200 participants, from 58 different teams. Season 2 of the competition will see data scientists and fintechs from Ghana, Kenya, Rwanda, Tanzania, Uganda and Zambia collaborate, compete and ultimately one will win the prize.

Who is behind it?

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

The Meltwater Entrepreneurial School for Technology (MEST) is a Pan-African entrepreneurial training programme, incubator and seed fund. MEST was developed in Accra in 2008, by Jorn Lyseggen, CEO of the Meltwater Group. He believes that talent is everywhere, although opportunity is not, and that with the right support and guidance, aspiring entrepreneurs can achieve great things.

In Accra, MEST offers aspiring entrepreneurs a fully sponsored, intensive 12-month graduate-level training programme. So-called Entrepreneurs in Training (EITs) are sourced from top graduates in Ghana, Nigeria, Kenya, South Africa and Côte d’Ivoire. Upon graduating, the Meltwater Foundation (the not-for-profit arm of Meltwater), provides seed funding to selected graduating teams. These new portfolio companies then cross over into MEST’s incubator, where they receive extensive full-time support and access to resources. MEST is expanding their Pan-African footprint, with incubators in Lagos and Cape Town and expansion underway in Nairobi and Johannesburg.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

What role are we looking for the expert data scientists to play?

We are looking for expert data scientists to support and advise the fintech companies on how to make better use of their data, so that they can overcome the business challenges they are facing in serving low income customers. Applications could include alternative data based credit scoring and data-driven customer segmentation.

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

Meltwater Entrepreneurial School of Technology (MEST) Meltwater Entrepreneurial School of Technology (MEST)

InclusiveFT - Winner of DataHack4FI Ghana

Problem statement: A lack of traditional identity documentation forms a significant barrier to many African consumers who are accessing financial services. Moreover, in jurisdictions that do not have a national ID system, a lack of integrated infrastructure for FSPs can hinder even those individuals who have official identity documents from accessing financial services in a timely and userfriendly manner – as application times are often increased significantly by the bureaucracy involved in verifying identities.

Solution: InclusiveFT’s identity verification solution links to various identity databases from government (national ID, passport, driver’s licence, voting registration, etc.), and work is being done on incorporating linkages to telco databases and utilities payments. Once an individual signs up with an FSP, the company collects sign-up data. The InclusiveFT API automatically compares the collected demographic information with the information in the linked databases. This is done through an automated process of text-matching. The upcoming version of the solution will incorporate an element of machine learning, so as to allow for slight deviations to be included in results as well – allowing for, among others, misspellings of names.


InvestXD

Problem statement:Over 80% of InvestXD’s customer base is male. During the DataHack4FI programme, the team attempted to understand female savings and investment behaviour better, and to identify how best to empower and assist women in investing more.

Solution:InvestXD analysed a variety of internal and external data sources. This included their own customer data (including demographic data, contact details, information about employment and income levels, as well as internal transaction data); Google Analytics (providing details about individuals’ interactions with the InvestXD website, such as their browsing history, timestamp, pages viewed, and drop-off rate); FullStory (a service that allows to follow customers’ clicks and views on a website); social media data (analysing engagement with InvestXD’s posts); and customer services data, (where specific questions were asked of specific groups within InvestXD’s customer base). Through analysing these data types, InvestXD developed an understanding of behaviour profiles for various types of users. This was fed into two main developments. Through the Women’s Wednesday Campaign on social media, InvestXD addresses the gaps in financial education that they identified through their analysis, specifically targeting women. Through continued analysis, this approach is monitored, allowing for adaptations and better addressing of women’s financial needs. A second product currently under development with InvestXD’s data fellows, is that of a specific investment platform for savings groups. Analysis and market research pointed out that women save overwhelmingly in groups.

Country finals

Kenya, Nairobi

Timeline

Datahack4FI, Uganda, Application deadline

Applications

February 21, 2018

Application deadline

Images
Datahack4FI, Uganda, Application deadline

Meetup 1

February 22, 2018

Pairing of the expert data scientists to the accepted fintechs

Images
Datahack4FI, Uganda, Application deadline

Meet-up 2

March 24, 2018

Teams introduce themselves and share project ideas

Images
Datahack4FI, Uganda, Application deadline

In-Country Finale

April 17, 2018

Fintechs share their developed solutions

Images
Datahack4FI, Uganda, Application deadline

Grand Finale

May 7, 2018

Country winner invited to day of sharing solutions and networking amongst i2i partners and other country finalists in Kigali

Images

Images

Video

Data scientists finalists

We are looking for expert data scientists to support and advise the fintechs on how to make better use of their data so that they can overcome the business challenges they are facing in serving low income customers. Applications could include; alternative data based credit scoring, data-driven customer segmentation etc.

Chris Orwa

  • Chris Orwa

Timothy Oriedo

  • Timothy Oriedo

Andrew Kenana

  • Andrew Kenana

Elvis Bando

  • Elvis Bando

Muthoni Wanyoike

  • Muthoni Wanyoike

Kathleen Siminyu

  • Kathleen Siminyu

Sam Kamande

  • Sam Kamande

Moses Thiga

  • Moses Thiga

Kenneth Kinyanjui

  • Kenneth Kinyanjui

Ciira Maina

  • Ciira Maina

Fintech finalists

Apps Lab Apps:Lab Co
Asilimia Asilimia
Data Integrated Limited Data Integrated Limited
Finplus Finplus
KopoKopo KopoKopo
MFI MFI
Leap2 Leap2
Nakala Nakala
Pawame Pawame
Pezesha Pezesha
Superfluid Superfluid
WazInsure WazInsure

About Datahack4FI

Insight2impact’s DataHack for Financial Inclusion (DataHack4FI) is an African innovation competition that encourages finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities. The competition promotes evidence-based decision-making for improved financial service provision to low-income individuals.

The competition pairs data scientists with existing fintechs. Fintechs accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries and involved over 200 participants, from 58 different teams. Season 2 of the competition will see data scientists and fintechs from Ghana, Kenya, Rwanda, Tanzania, Uganda and Zambia collaborate, compete and ultimately one will win the prize.

Who is behind it?

Nairobi-Garage
FSDK
Liquid Telecom

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

What role are we looking for the expert data scientists to play?

We are looking for expert data scientists to support and advise the fintech companies on how to make better use of their data, so that they can overcome the business challenges they are facing in serving low income customers. Applications could include alternative data based credit scoring and data-driven customer segmentation.

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

Nairobi Garage Nairobi Garage
FSD Kenya FSD Kenya
Liquid Telecom Liquid Telecom
predictive analytics Predictive Analytics
Microdrone Microdrone

WazInsure - Winner of DataHack4FI Kenya

Problem statement: The boda-boda industry is big in Kenya. Of the 600,000 motorcycles on Kenya roads, over 99% are boda-bodas, and about 15 million people ride them every day. This segment of the transport sector brings over USD6 million into the economy daily and is increasing youth employment. However, very few insurance companies offer cover for boda-boda drivers. In fact, only three of the 40 general insurers in Kenya provide cover to this segment of the market. This is largely due to limited data being available on this informal sector, which makes it hard for insurance companies to underwrite the drivers

Solution: WazInsure developed supervised and unsupervised machine-learning models that analyse both internal and external data sources to predict the likelihood of a boda-boda driver claiming for a high-risk event. The model uses structured internal data from surveys conducted on drivers. The external data used includes unstructured and crowd-sourced data from social media platforms and others. The outputs of the analysis performed allow insurance providers to better assess risk for boda-boda drivers.


Mose

Problem statement: In Kenya, agriculture is the second-largest contributor to GDP and the largest supporter of livelihoods. 75% of the labour force in Kenya are employed in agriculture, and 33% of all adults derive their main source of income from it. But, agriculture remains largely out of reach for the financial sector. Only 4.3% of private-sector credit goes to agriculture, and less than 1% of smallholder farmers have access to credit from formal financial institutions. This is in part because most smallholder farmers lack collateral, credit histories and a stable cash flow or banking records, which are requirements by most FSPs to extend credit.

Solution: The solution (called Fama plus) provides farmers with a simple digital record-keeping platform on their phone. Farmers can use their digital records to gain valuable insight into their own farming operations and to maximise the potential of their farms. In addition, the data captured through the platform is also leveraged and combined with existing agricultural data to develop a credit profile for the farmer. The farmers can then use this credit profile to unlock access to credit at formal financial institutions.

Country finals

Zambia, Lusaka

Timeline

Venue for all meetups will be BongoHive, Thabo Mbeki Road, Lusaka, except the Finale which will be held at Radisson Blu

Datahack4FI, Uganda, Application deadline

Application

February 16, 2018

Application deadline for Zambia

Datahack4FI, Uganda, Application deadline

Accepted data scientists

February 23, 2018

Accepted data scientists notified

Video
Datahack4FI, Uganda, Application deadline

Meet-up 1

February 28, 2018

Pairing of the expert data scientists to the accepted fintechs

Video
Datahack4FI, Uganda, Application deadline

Meet-up 2

March 7, 2018

Teams introduce themselves and share project idea

Video
Datahack4FI, Uganda, Application deadline

Zambia Finale

April 25, 2018

Fintechs share their developed solutions

Datahack4FI, Zambia, Application deadline

Grand Finale

May 7, 2018

Zambia winner invited to day of sharing solutions and networking amongst i2i partners and other country finalists

Images

Images

Video

Data scientists finalists

Adewale Akinfaderin

  • Adewale Akinfaderin

Chansa Kabwe

  • Chansa Kabwe

Ciira Maina

  • Ciira Maina

Judy Wawira Gichoya

  • Judy Wawira Gichoya

Kateula Sichalwe

  • Kateula Sichalwe

Moses Mwangi

  • Moses Mwangi

Peter Erskine

  • Peter Erskine

Fintech finalists

Affordit Affordit Loans
Avencion Group Avencion Group
Broadpay Zambia Broadpay Zambia
trotrotractor Outsource Now
ProBASE Limited ProBASE Limited
Virtual Doctors Virtual Doctors
Zambian Pawn Zambian Pawn

About Datahack4FI

Insight2impact’s DataHack for Financial Inclusion (DataHack4FI) is an African innovation competition that encourages finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities. The competition promotes evidence-based decision-making for improved financial service provision to low-income individuals.

The competition pairs data scientists with existing fintechs. Fintechs accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries and involved over 200 participants, from 58 different teams. Season 2 of the competition will see data scientists and fintechs from Ghana, Kenya, Rwanda, Tanzania, Uganda and Zambia collaborate, compete and ultimately one will win the prize.

Who is behind it?

bongohive

BongoHive is Zambia’s first technology and innovation hub. Established in May 2011 and based in Lusaka, the co-founders, all enthusiastic programmers, sought to address the gaps they experienced working within the local technology industry leading to a lack of coordination, skills exposure and productivity. BongoHive has evolved to assist scalable startups of any background by enhancing skills, accelerating growth, strengthening networks, increasing collaboration, providing a forum for ideas exchange and reducing the barriers to entrepreneurship.

FSDK

Financial Sector Deepening Zambia (FSDZ) is a national nonprofit company providing information, innovation, and impact to increase financial inclusion. We seek to expand and deepen the financial market so all Zambians can benefit from financial services. We work with financial service providers, policy makers and civil society to make Zambia’s financial sector more robust, efficient and, above all, inclusive. FSDZ enjoys the active support of financing partners UK Aid and Swedish Sida. FSDZ is part of a network of nine financial inclusion organisations working throughout Africa. The network works together to avoid redundancies by sharing learnings and research across borders.

Liquid Telecom

Liquid Telecom is the leading independent data, voice and IP provider in eastern, central and southern Africa. It supplies fibre optic, satellite and international carrier services to Africa's largest mobile network operators, ISPs and businesses of all sizes. It also provides payment solutions to financial institutions and retailers, as well as award winning data storage and communication solutions to businesses across Africa and beyond. Put simply, we connect people.


i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

What role are we looking for the expert data scientists to play?

We are looking for expert data scientists to support and advise the fintech companies on how to make better use of their data, so that they can overcome the business challenges they are facing in serving low income customers. Applications could include alternative data based credit scoring and data-driven customer segmentation.

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

Bongo hive BongoHive
FSDZ Financial Sector Deepening Zambia (FSDZ)
Liquid Telecom Liquid Telecom

ZedCredit - Winner of DataHack4FI Zambia

Problem statement: According to FinScope research in 2015, more than 600,000 Zambians make use of informal savings groups to manage over 3.3 billion Kwacha. However, informal savings groups present members with challenges relating to inadequate record-keeping, a lack of transparency, and safety concerns given the large amounts of money under management. The need for alternative low-cost, low-commitment savings solutions is clear given the recent success of mobile application-based savings wallets in Zambia and the surrounding countries.

Solution:b> The solution is a mobile savings wallet targeted at women within informal savings groups, which allows users to better manage risk and ultimately create wealth. The wallet record manager digitises savings group records to unlock access to financial services. The primary objective of the wallet (called EDU-SAVE) is to enable parents of school-going children to pay for school fees and manage unforeseen circumstances without financial stress. The solution gives savings group members a formal method of saving by supplying a digital footprint of their money usage, and it provides unique insights into financial products that could improve their lives.


Outsource Now

Problem statement: The more than 60,000 micro-merchants in Zambia represent a crucial sector of the country’s economy. Yet, research indicates that these merchants are under-lent and under-banked (about 30% only, according to the World Bank). The apparent lack of access to formal credit is due to the absence of data generated by merchants that provide information to potential lenders about the business. While a number of financial institutions express a desire to provide loans to SMEs, micro-merchants have insufficient business information and record-keeping to facilitate suitable lending.

Solution: The solution is an application that administrates financial management and accounting for SMEs. It keeps track of the merchant’s stock, sales (income) and expenses. This information is then supplied to FSPs to help determine the merchant’s credit score and capacity to pay back loans. FSPs can also use this data to develop products that are better suited to SMEs, a key shortcoming of the financial products currently available for micro-merchants. According to 90% of merchants in Lusaka’s Kalingalinga area, stock advances would help their businesses the most. Such stock advancing facilities can be considered a form of lending, where the supplier advances goods and receives payment at a later stage.

Country finals

Rwanda, Kigali

Timeline

The launching tookplace at Ubumwe Grand Hotel, KN 67 St and the rest of Meet-ups happen at kLab, Telecom House - 6th Floor, 8 KG 7 Ave, Kigali.

Rwanda, Kigali Application deadline

Application

January 25, 2018

Application deadline for Rwanda, Kigali

Datahack4FI, Rwanda, Kigali

Launch

January 25, 2018

Launching the Datahack4Fi Season2 Program

Datahack4FI, Rwanda, Kigali

Meet-up 1

February 24, 2018

Pairing of the expert data scientists to the accepted fintechs (Introduction of the concept and kick off the program Two weeks of taking Moocs)

Datahack4FI, Rwanda, Kigali

Meet-up 2

March 15, 2018

Teams introduce themselves & share project idea (with FSPs and other stakeholders)

Datahack4FI, Rwanda, Kigali

Rwanda Finale

April 18, 2018

Final Pitch - Official launch of Data Science Fellowship

Datahack4FI, Rwanda, Kigali

Grand Finale

May 7, 2018

Rwanda winner invited to day of sharing solutions and networking amongst i2i partners and other country finalists

Images

Images

Video

Data scientists finalists

Davy K. Uwizera

  • Davy K. Uwizera

Paul Buchana

  • Paul Buchana

Moses Mbabaali

  • Moses Mbabaali

Amir Mugarura

  • Amir Mugarura

Philip N. Sendi

  • Philip N. Sendi

Fintech finalists

AICOS AICOS
Exuus Exuus
GO GO
Milsport Milsport
Impressive Ltd Impressive Ltd
Ingenzi Ingenzi
subpay Subpay
uplus Uplus
1000 Hills Electrical 1000 Hills Electrical

About Datahack4FI

Insight2impact’s DataHack for Financial Inclusion (DataHack4FI) is an African innovation competition that encourages finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities. The competition promotes evidence-based decision-making for improved financial service provision to low-income individuals.

The competition pairs data scientists with existing fintechs. Fintechs accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries and involved over 200 participants, from 58 different teams. Season 2 of the competition will see data scientists and fintechs from Ghana, Kenya, Rwanda, Tanzania, Uganda and Zambia collaborate, compete and ultimately one will win the prize.

Who is behind it?

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

ICT_Chamber
k_lab
Liquid Telecom
AFR
ibave

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

What role are we looking for the expert data scientists to play?

We are looking for expert data scientists to support and advise the fintech companies on how to make better use of their data, so that they can overcome the business challenges they are facing in serving low income customers. Applications could include alternative data based credit scoring and data-driven customer segmentation.

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

AFR AFR - Access to Finance Rwanda
Ibaze Ibaze - Applied Research Labs
ICT Chamber ICT Chamber
liquidtelecom Liquid Telecom

AgriGO - Winner of DataHack4FI Rwanda

Problem statement: Due to seasonal harvests, farmers have infrequent access to income. This contributes to financial insecurity, financial stress and a weaker negotiating position when the harvest is sold – a lack of access to finances makes farmers more likely to accept prices that are less favourable to them. However, with a lack of formal financial records, it is generally not possible for smallholder farmers to access formal credit. This problem is exacerbated for female farmers, who, despite doing much of the farming work, often don’t own the land and thus cannot use it as collateral.

Solution: AgriGO and its data fellows and expert worked on developing a data solution that can assist farmers in accessing a monthly “salary”. Farmers can apply for this monthly credit line with their cooperatives, who base their approval on AgriGO’s five scorecards. These scorecards are based on five different types of data that AgriGO has access to: behavioural data (farmers’ activities following AgriGO’s farming advice and the extent to which they match the advice), daily activity costs (farmers’ inputs as recorded on the platform), farmers’ assets (plot size, location and characteristics), historical data on the AgriGO platform, and external factors (including weather forecasting, currency inflation, market prices, market demand for certain crops, bank risks assessment, and regional crop indexes). The combination of these scorecards informs a credit score, which the cooperative uses to judge in providing monthly credit to the farmer.


Exuus

Problem statement:In 2016, there were 36,000 savings groups in Rwanda, collectively holding around 16 billion Rwandan francs. Over 1 million Rwandans belong to a savings group, which is almost the same as the number of Rwandans that are banked. However, very little information is available about these savings group members, and it is still difficult for this large group of financially active individuals to access additional products such as credit.

Solution:SAVE is a digital platform that financially empowers Savings Groups sustainably through a comprehensive, adequate, open and user-friendly savings groups registry. The platform digitises savings contributions (through USSDbased mobile money contributions) and provides dashboards for savings group management. The now-digitised transaction data from the group is used to provide individual members with a credit score, which can be used to receive bank loans.

Country finals

Tanzania, Dar es Salaam

Timeline

Tanzania, Dar es Salaam

Application deadline

Application deadline for Tanzania, Dar es Salaam

Tanzania, Dar es Salaam

Meet-up 1

Pairing of the expert data scientists to the accepted fintechs

Tanzania, Dar es Salaam

Meet-up 2

March 23, 2018

Teams introduce themselves & share project idea

Tanzania, Dar es Salaam

In country final

April 19, 2018

Fintechs share their developed solutions

Images
Tanzania, Dar es Salaam

Grand Finale

May 7, 2018

Country winner invited to day of sharing solutions and networking amongst i2i partners and other country finalists in Kigali on 7 May 2018

Images

Video

Data scientists finalists

Anthony-Auffret

  • Anthony Auffret

Chika Obuah

  • Chika Obuah

Kabeleka

  • Kabeleka

Nathi-Ndlovu

  • Nathi Ndlovu

Rahim Abbas Kiobya

  • Rahim Abbas

Wasiwasi

  • Wasiwasi

Fintech finalists

A-Trader A-Trader
bizfundi BizFundi
Credit info Credit info
CYTRONE-PAY Cytrone
Jodari Creatives Systems Jodari Creatives Systems
Kalen Limited Kalen Limited
Safari Wallet Safari Wallet

About Datahack4FI

Insight2impact’s DataHack for Financial Inclusion (DataHack4FI) is an African innovation competition that encourages finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities. The competition promotes evidence-based decision-making for improved financial service provision to low-income individuals.

The competition pairs data scientists with existing fintechs. Fintechs accepted to the competition receive specialised support from their paired expert data scientist to address business and data challenges they are currently facing in efficiently serving underserved customers.

Season 1 focused on supporting entrepreneurs in brainstorming and developing new solutions for expanding access to financial services in the low-income space and ran from October 2016 to May 2017. The initiative took place in seven countries and involved over 200 participants, from 58 different teams. Season 2 of the competition will see data scientists and fintechs from Ghana, Kenya, Rwanda, Tanzania, Uganda and Zambia collaborate, compete and ultimately one will win the prize.

Who is behind it?

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

FSDT
Kryola
raha

i2i is a five-year program funded by the Bill and Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

What do we aim to achieve?

The objectives for the DataHack4FI can be summarised as follows:

- To develop data solutions in financial service provision that benefit the unserved and underserved
- To strengthen the data science and innovation abilities of individuals within the fintech
- To convene innovation hubs, fintechs, expert data scientists and other development partners to build ecosystems that further stimulate and support the use of data for financial inclusion

What role are we looking for the expert data scientists to play?

We are looking for expert data scientists to support and advise the fintech companies on how to make better use of their data, so that they can overcome the business challenges they are facing in serving low income customers. Applications could include alternative data based credit scoring and data-driven customer segmentation.

Partners

The DataHack4FI competition is an insight2impact (i2i) initiative, i2i is a five-year program funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation with the aim of unleashing the power of data for financial inclusion.

FSDT FSDT - Financial sector deepening trust
Kryola Kryola
raha RAHA

A-Trader - Winner of DataHack4FI Tanzania

Problem statement: In 2017, only half of Tanzania’s adult population had some form of savings, and fewer than 2% of the 56-million population were able to invest in local capital markets. Access to trading securities on the majority of Africa’s exchanges is limited to physically visiting, calling and e-mailing a brickand-mortar broker. A customer fills out multiple forms, physically deposits the money and returns to fill another form and execute the trade. 82% of Tanzania’s population are unbanked, the majority live in rural areas, there is a lack of physical access, no financial track record, and financial illiteracy. This prevents millions from growing their savings, accessing investment opportunities and having a greater chance at economic prosperity.

Solution: A-Trader’s platform digitises African capital markets by enabling users to access trading and investment options using the internet or any mobile device. A-Trader bypasses traditional models, as it provides direct access to stock markets, financial tools, investor education, investment management and micro-investment options for mid-to-low-income earners. The time and efforts required to visit, e-mail or call a broker are removed, resulting in time- and cost-savings, accessibility, real-time transactions/monitoring, regular updates and multiple automated functionalities. Through artificial intelligence and robo-advisors, A-trader is building a micro-investment algorithm to provide savings and investment options for Africa’s growing middle class, and financially excluded population.


BizFundi

Problem statement:Financial institutions are risk-averse lenders with complex requirements and varying criteria. For small businesses seeking credit, the financial services landscape can be overwhelming, with many different financial institutions, different requirements, and different loan terms. Small business owners sometimes struggle to identify the most appropriate advisor to help them refine their business plan and assess their funding needs.

Solution: Bizfundi is an online platform that allows business owners to identify and connect with trained business advisors. Bizfundi’s newly-launched “Mkopo Kocha” credit readiness service enables specially-trained business advisors to work with businesses to assess their funding needs and create a tailored plan to improve areas of recordkeeping, planning and documentation. For those businesses that successfully complete this process, a profile of the business is shared among a network of financial intuitions to review and indicate whether or not they are interested in the prospective client. When discussing this process with our data mentor and data fellow, we identified opportunities to improve the service through the application of data science. Following up with each business participating in the credit readiness service to see whether it was successful in receiving a loan and, if so, the loan’s value and the lending institution, enables Bizfundi to determine:

  • The probability of a business receiving a loan, at different loan values, both before and after working with a business advisor, for each participating financial institution
  • Which variables have the greatest correlation with a successful application—this will allow the business advisor to focus his/her time on those areas of the business
  • Which financial institutions are best suited for each business

What are you waiting for?

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DataHack4FI

Frequently asked questions

Competition format

Q.How does DataHack4FI differ from other competitions?

There is no traditional hackathon planned for a specific day or weekend. Teams will contribute their own data and will have a few months to work with a data fellow and explore how that data can be used to develop a new product/solution that has a financial inclusion element.

Q.How does Season 2 differ from the Season 1 competition?

DataHack4FI Season 2 won’t follow a traditional hackathon format. Instead of informal teams being presented with the same set of data to analyse, this year we are encouraging existing tech companies to take a fresh look at the data they are already collecting by partnering with a data science fellow (a young data enthusiast). We believe that through analysis of this data it may be possible to develop new solutions to address the financial needs of low-income communities (particularly women and youth).

Q.When does the competition start and end?

The grand finals will be held in May 2018 but the launch date, deadline for entry and in-country competition finals differ for each country. Please check your country page for these details.

Q.When (and where) are the meet-ups?

Meet-ups will be held on different dates in each of the six countries. Once you have signed up to participate, the innovation hub partner in each country will be in touch with you about these and generally, the meet-ups will be held at their offices. There will be three webinars that are open to everybody. You will get an email inviting you to join the webinar.

Q.What are the judging criteria?

Solutions will be scored on a number of factors, including whether it:

  • Addresses financial inclusion challenges in Africa
  • Demonstrates how data and analytics were used
  • Shows how customers would benefit from using it
  • Has been developed in a way that enabled capacity building for young people involved in the process
  • Ideally benefits women and/or youth (this is not mandatory)



  • Eligibility and entry requirements


    Q.How do I know whether I am eligible to enter?

    Each application to enter will be individually assessed. We are looking for the following:

    Tech innovators
    Existing companies that have already launched a product, have customers and are collecting data. The companies should either have an employee/team member that is capable of doing data analysis or they should be willing to work with a data scientist fellow. The company should have an interest in exploring solutions related to financial inclusion. For other criteria, see the questions asked during the registration process.

    Data science fellows
    These data enthusiasts should either have a relevant qualification (e.g. programming, statistics, maths, etc) or some experience in data analytics or data science. The fellows will be mentored by more experienced data scientists. Applicants should be willing to partner with a tech innovator for the duration of the competition to analyse its data and develop a solution.

    Q.How many people can participate in a team?

    As we are working with existing tech companies, the company can include as many of its staff members (or founding members) as it requires.

    Q.If I don’t have a team can I enter by myself?

    Yes, if you have an existing tech company that has already launched a product and has customers or users of the product.

    Q.When is the deadline for entry?

    The date will be confirmed soon. Please check your country’s Meetup link for more information.

    Q.My country isn’t listed, can I enter?

    As the competition runs over a number of months, requiring numerous in-person meet-ups, we are only able to accommodate entries from these six countries at the moment. You are welcome to send an email to nicola@i2ifacility.org, letting us know why you think your country should be included next time.

    Q.I have an idea for a product but haven’t launched it yet, can I enter?

    No, unfortunately we are looking for registered companies that are already collecting data.


    Data requirements and data sharing


    Q.Do I need to share my data with everyone?

    If you are using the data collected by your tech company, that data itself will only be shared with the data fellow (and possibly a data scientist who is mentoring the fellow). You can ask them to sign a non-disclosure agreement (NDA). When you are pitching your solution, you will present the use case and possibly some examples, but don’t need to share the raw data.

    Q.How do I know if my tech company has enough data?

    It is difficult to offer a number/fixed volume, but you need to have enough data to enable the data fellow to draw meaningful insights into a particular community/group of people.

    Q.What kind of data is applicable?

    Any data that you are collecting and are able to use to gain insights about low-income consumers and the products or services that would be beneficial to them.

    Q.My data isn’t related to financial services, how can it be used to improve financial inclusion?

    If you are collecting information on the demographics, behaviour or consumption patterns of people who are typically underserved by the financial sector (e.g. those living in rural areas, youth, women, self-employed or informally employed) it is possible that information could be valuable in enabling financial service providers better understand the challenges people face or the products that would appeal to them.

    Need another question answered?

    Datahack4FI

    Partners

    The Datahack4FI is open to partnerships and sponsorships. These partnerships provide us with venues, snacks, prizes, drinks, stationery and other resources that make a hackathon possible.

    • Liquid
    • MEST
    • ICT
    • innovation village
    • Bongohive
    • MM4P
    • fsdu
    • image description
    View

    DataHack4FI Season 1

    Select your country below and view the images on the right.



    News from i2ifacility

    Latest news & blogs

    Here are the latest DataHack4FI news and blog posts. Visit our website to see other i2i content.

    image description

    In 2016, insight2Impact implemented the first DataHack4FI innovation competition. The key objective was to create a platform for finance, tech and data enthusiasts to collaborate in using data and analytics to solve business challenges and extend financial services to underserved communities.

    Read more