Winners Named in Financial Literacy App Dev Challenge

Following presentations by six finalist teams in the mobile development competition of the financial literacy challenge sponsored by global payments tech giant Visa, three teams were named winners by an expert judging panel comprised of representatives from Visa, StanbicIBTC, First Bank of Nigeria, the Development Initiative Network and Enhancing Financial Innovation & Access.  Criteria for selection included not only the quality of the innovation, but also their capacity to effectively solve local financial illiteracy problems.

The grand prize winner was the team that developed “Money Talks,” an audio tutorial solution designed to disseminate financial information using SMS, voice interactive system and the Internet.

Second place went to the team who developed the “More Than Money” game, which aims to teach and reinforce the money management skills of young people.

The third place winners designed the mobile and internet-based game “Market Trader,” which educates youth regarding decision-making around financial concepts in a kid-friendly manner.

The competition represented one of many elements of Visa’s overall strategy to provide information, tools and resources to better educate Nigerians on financial topics.