In Lagos, the Wheatbaker Hotel hosted an exciting and fiercely competitive event on November 22nd and 23rd. Five ambitious teams compete for the remarkable $5,000 grand prize offered by the PayAza 2.0 hackathon.
PayAza Africa Limited stands strong as a pioneer in groundbreaking and economical payment solutions. Their remarkable fintech platform empowers businesses to effortlessly execute seamless cross-border transactions, ensuring promptness and accessibility at exceptionally reasonable rates.
The African payment industry is being nurtured through this hackathon as the company strives for growth. The hackathon, with a theme of “Empowering Africa – Leveraging Generative AI For a Tailored Financial Journey”, provided a platform for creative thinkers to develop groundbreaking payment solutions using Generative AI.
Read also: NCC gifts N30 million to winners of Hackathon
The PayAza 2.0 hackathon judges
Five teams were formed, and each team was assigned a mentor. Their ultimate challenge was to create innovative fintech solutions. The panel of judges for the event comprised notable individuals, including Adeoluwa Akomolafe, the Chief Information Officer of Wema Bank; Tife Akeju, Country Manager at Obsidian Achernar; and Seun Alley, the Fez Delivery Co CEO and founder; Barong Asiodu leads the West African Transformation team at Pernod Ricard; Jacqueline Aby. CEO and Founder of MagmaTech. Kayode Fadahunsi, Prosperis Holdings CEO. Adetayo Bamiduro, the Co-founder of MAX; and Edwin Enwegbara, Executive Director at Eauxwell Nigeria Limited.
Tolani Sule Akibu, the commissioner for tertiary education in Lagos state, graced the occasion alongside distinguished individuals. In his address, he emphasised the importance of strengthening ties between the tech industry and tertiary institutions in Lagos state. Furthermore, he shed light on the state government’s endeavours in the technology sector and applauded PayAza Africa Limited for its unwavering dedication to innovation. The commissioner acknowledged the significance of this hackathon and commended the hosts for providing such a valuable and influential platform.
Team Iya Finance trumps with generative innovation
Team Iya Finance emerged victorious at the event, marking it as a grand triumph. This innovative trio pioneered an AI-based financial tool that fosters financial knowledge and improves decision-making. Harnessing the power of Generative AI, their app acts as an autonomous financial advisor, assisting users with saving strategies and providing prudent financial recommendations.
The $5,000 grand prize was awarded to the team comprising Chinwendu Nweje (Product Manager), Ogechukwu Ata (Frontend Developer), and Francis Okocha Ojeah (Backend Developer and top performer) for their groundbreaking solution. Their creation utilises an analysis of users’ financial history and spending patterns to forecast a path to their financial objectives. Unyime Tommy and Kehinde Omotoso mentored the team throughout their journey to success.
Other contestants
In order to determine the winners, each of the five teams showcased their demos to a group of judges. The judges challenged the teams to demonstrate the practicality of their ideas and provided guidance for improvement. Let’s also acknowledge the additional teams and their innovative solutions:
Second place contestant: Team NaYa, who received a generous prize of $3,000
Concept: An advanced AI-driven system that ensures stringent data privacy for personalised financial services.
Members of the team include Victor Agwa, Gideon Onyewuenyi (the team’s best-performing member), and Increase Chima.
Third place contestant: Team Enigma, who received $1,500
Concept: AfriAid, an innovative web application that utilises revolutionary generative artificial intelligence technology to assist enterprises in effectively handling their current financial information and offering invaluable business analyses derived from this data.
The team includes Mkpouto Inyang, who was recognised as the top-performing member, alongside Sophia Ezeh, Youdiowei Oyineteimorde, and Anameti Umoh.
Team Peerloom
Concept: CreditCheq, an AI-powered innovation facilitating instantaneous financial verifications for loan applications.
Members of the team are Blessing Anyaudo, Samuel Okpe, Boluwatife Adewusi (who has been recognised as the most exceptional team member), and Emmanuel Adeeko.
Team Payverdict
Concept: Ada, an AI-powered assistant specifically designed to address the challenges in customer service operations.
The members of the team are Oromidayo Owolabi, Johnpaul Eyibra (acknowledged as the most exceptional team member), Oreoluwa Somuyiwa, Daniel Olasupo, and Olajide Ojo.
In the PayAza 2.0 hackathon, the triumph was the shared fate as every participant emerged victorious. As the curtains closed on the event, the exceptional team members were honoured with a generous sum of $200, while every individual contributor received a meaningful reward of $100 alongside a certificate to commemorate their participation. The winning team, privileged to have their innovative concept supported by Payaza Africa Limited, also caught the attention of the company, which eagerly aims to secure the services of other remarkable participants.