The pan-African financial institution, Ecobank is accelerating its partnership with Fintechs and other partners across Africa via Sandbox in what can be en as a major milestone in its open banking strategy.
The Sandbox, which is now live and accessible on request to the African Fintech community, is coming after a successful pilot run with selected Fintechs in early 2020. It allows Fintechs to access Ecobank’s Application Programming Interface (APIs) for the development of innovative solutions.
According to Mr. Eddy Ogbogu, Group Executive, Technology & Operations at Ecobank, Sandbox will position the annual Ecobank Fintech Challenge beyond competition to a Developer Platform and Marketplace of fintech solutions.
“As the Pan-African bank, Ecobank is committed to the growth of the Pan-African Fintech Ecosystem. This Sandbox is designed to facilitate this objective. Innovative Fintechs, start-ups, product developers and technology partners are invited to leverage the platform to actualise their pan-African dreams,” he said.
Ecobank designed the Sandbox to be relevant to the needs of the Ecosystem. There were really positive reviews from the pilot as well as some valuable feedback which helped in finetuning the platform for a Live launch. The pilot indeed helped both Ecobank and Fintechs get the best out of the Sandbox.