DataHack4FI is an innovation competition that promotes evidence-based decision-making for improved financial service provision to low-income individuals. The competition brings together data enthusiasts and financial service providers (FSPs) to crowdsource data-driven solutions to real-world challenges.
What is financial inclusion?
The delivery of appropriate financial services to formerly underserved and low-income segments of society, in a way that enables them to meet their needs to consume, manage risks and unlock opportunities to improve their lives.
A focus on data-driven decision-making by financial service providers (FSPs)
This competition aims to promote the use of data and analytics for evidence-based decision-making by financial service providers, with the aim of better serving the underserved. Data can be used to a) better understand and serve existing clients; b) identify new client segments; or c) inform product design. The types of data considered include provider data (for example transactional data), alternative data (for example social media data, geospatial data, satellite data) and financial inclusion datasets (for example individual or household surveys).
How does the competition work?
There are eight country-level competitions. Winners from each of these will be selected to join the ultimate DataHack4FI competition 2017. The competition will take place in 4 stages:
Phase 1: Competition launch
This could take the form of meetups at tech hubs or information sessions at local universities. Check out country pages for details.
Phase 2: The hackathon
A 2.5-day data hackathon, usually starting on a Friday evening and ending on a Sunday evening. Top teams will be selected by the jury and given the go-ahead to continue working on their prototypes.
Phase 3: The road to finals
Training and mentoring of selected teams in preparation for the final event in May 2017.
Phase 4: The Grand Final!
Top teams from each country will attend the DataHack4FI Grand Finale in Kigali, Rwanda in May 2017. There they will battle against other African champions and have the chance to pitch their solutions to investors at the Transform Africa Summit.
Who is behind this?
DataHack4FI is an insight2impact (i2i) initiative, with the support of in-country partners across eight African countries. Please view the full list of partner logos at the bottom of this page.