The $10,000 Question: How MTN MoMo Hackathon winners create financial magic
The MoMo Hackathon 2023 was a stage set for innovation, collaboration, and financial brilliance. Developers, innovators, and entrepreneurs across Nigeria converged to showcase their skills, creativity, and determination to create innovative applications using MTN’s Mobile Money (MoMo) APIs. After intense competition, the spotlight shone on the winners, and they answered the $10,000 question: How did they create financial magic?
1. Winner: Rova Pay
Oluwapelumi Yusuf emerged as the winner of the MTN MoMo Hackathon 2023, clinching the prestigious USD 5,000 cash prize. His invention, Rova Pay, was a testament to his innovative prowess and ability to leverage MoMo’s APIs uniquely.
Rova Pay introduces an innovative method allowing users to conduct transactions effortlessly, anytime and anywhere, using automated USSD. This technology eliminates the necessity for internet access and manual code dialling, offering enhanced convenience to customers.
Yusuf expressed that Rova Pay extends financial services to marginalized communities facing internet accessibility challenges. He aimed to ensure that individuals without internet connectivity could benefit from digital financial services.
Yusuf demonstrated how, with MoMo’s advanced APIs (V2.1 – Notification, KYC, Auth. and V2.2 – Channel as a service), one could create a mobile application that redefined financial transactions and user experiences. His solution was not just a piece of technology; it was a vision of a more accessible and efficient financial future for Nigerians and Africans.
2. The Second Runner UP: MoMo Cash
While Oluwapelumi Yusuf took home the grand prize, the second runners-up, Marvis Igbokwe and Favour Ajie Divine, also made their mark, receiving USD 3,000 for inventing MoMo Cash.
Inspired by the need to create a system that awards both consumers and producers, MoMo cash is a solution that rewards consumers who perform MoMo tasks with MoMo coins that they can leverage to pay bills or run other transactions.
Their projects showed that financial magic is not exclusive to the winner’s circle. These developers demonstrated an exceptional knack for harnessing MoMo’s APIs to address real-world fin-tech challenges.
3. The Third Runner UP: Clinique Plus Pay
Isaac Odinaka Franklin’s solution, Clinique Plus Pay, won third place with a cash prize of USD 2,000.
Clinique Plus Pay is a platform designed specifically for healthcare institutions. The solution enables patients to save toward healthcare, offering them the option to accumulate funds in their MoMo wallet that they can utilize when in need of medical care.
Isaac’s motivation for Clinique Plus Pay originated during his service year at a military hospital. He observed the difficulties healthcare workers encountered in accessing soldiers’ medical records. This discovery sparked his idea to develop a digital platform for storing medical histories. For Isaac, integrating the MoMo payment system was key to improving the solution, enabling patients to pay for healthcare services.
Isaac’s solution integrated MoMo APIs and illustrated the ingenuity and resourcefulness that financial technology developers can offer. Clinique Plus Pay was a standout solution at the hackathon as it addressed an important, but often overlooked sector -healthcare.
What’s Next for MoMo PSB?
The MTN MoMo Hackathon 2023 was more than just a competition; it was a celebration of innovation and a glimpse into the future of financial technology. The event underscored MoMo’s commitment to fostering innovation and supporting developers in their quest to create financial solutions that make a positive impact.
MoMo PSB is fostering financial inclusion and innovation in Nigeria. By providing a platform for developers to utilize MoMo’s capabilities, the brand aims to create opportunities for growth and drive financial services to the next level.