Visa Supports Financial Literacy With Mobile App Development Challenge

Global payments technology company, Visa, has announced a mobile application development challenge, geared at stimulating the development of innovative web and mobile applications and games, to teach money management skills and support the advancement of financial literacy in Nigeria.

The Financial Literacy Challenge is an innovation challenge sponsored by Visa and delivered by the Co-Creation Hub Nigeria, using their unique approach of involving stakeholders in the co-creation of new products and services.

The challenge will bring key financial services players like the Central Bank of Nigeria, commercial banks, personal finance NGOs and other stakeholders together with software developers and designers, to create interesting applications and games. These applications and games will advise Nigerians on how best to manage their money and financial affairs, and also educate them on the tools available to meet their financial needs.

Ade Ashaye, Country Manager for Visa in West Africa, said: “At Visa, we are dedicated to increasing financial literacy among the unbanked through strategic partnerships and educational programs. This is the motivation behind the Financial Literacy Challenge.”

The Financial Literacy Challenge kicked off at a session with key finance stakeholders and will culminate in a prototyping bootcamp from the 26th - 28th of July 2013 at the Co-Creation Hub (CcHub) in Lagos.

Six apps and games have been selected from a pool of eighteen submissions, and will be built to compete for the top three prizes of N1,200,000, N960,000 and N800,000 respectively.  To view the six shortlisted ideas go to http://www.cchubnigeria.com/flc/ideas.

For more information on the Financial Literacy Challenge go to www.cchubnigeria.com/flc.