Day four of the ongoing Women in FinTech Hackathon was a huge success as participants learnt about Product Management, Prototyping, and the Digital Financial Services Providers (DFSPs) ecosystem.
The day’s mentor, Primera Muthoni; an ICT Product Development Expert and a senior mentor with Girls for Girls, Uganda Program urged the participants to pay utmost attention to product research, and they know your customer (KYC) matrix as the two are key to product success.
Discussing product management, Muthoni noted that the only way to develop a sustainable product is by identifying a problem, knowing the audience it affects, and then coming up with a solution.
She further advised the groups to identify their competitive advantage and include it in their product development stages such that it can be compelling to any potential investors.
“An investor wants to see where you are headed. Does your product have a promise? How do the market projections look like?” Muthoni noted.
She added that a good product should have both a product roadmap and technology roadmap and this should be realized in no more than 12 weeks.
“By the time the product is ready, make sure you have double or triple-checked it. Leave no room for a foul start because it creates a bad perception about your product,” she said.
Primera Muthoni was the third mentor at the ongoing Women in FinTech Hackathon that has attracted 17 women-led teams of between two to four members each. The teams are coming up with financial inclusion solutions that address their community needs, aided by Level One Project principles and the latest technologies.
The other mentors before her were Catherine Namara; a telecommunications engineer, project management expert, an alumna of the G4G (Girls4Girls) STEM, and the current head of fundraising and strategy at Girls4Girls and Doreen Lukandwa; the Beyonic/MFS Africa vice president (global enterprises).
During the Day Four morning session led by Cleopatra Kanyunyuzi, the co-founder of Club Tangaza, the Hackathon participants were taken through Digital Financial Service Providers (DFSPs), Application Programming Interfaces (APIs), and Interoperability Models citing that these help to ease the work of the innovators, by providing customers with real-time customer transactions, security, efficiency, accountability, and convenience.
The week-long Hackathon, organized by HiPipo in partnership with Crosslake Technologies, Modusbox, Mojaloop, and Level One Project, will culminate in the Women in FinTech summit on Friday, October 15th, 2021 where the three top teams will be announced and get to share USD5,000 in prizes in addition to being part of a 90-day Business Incubator Program.
HiPipo is proud to remain one of the continent’s premier advocates for the creation, dissemination and adoption of digital financial services, and we remain highly enthusiastic to provide the ways and means for our innovators to fully develop solutions that will collectively lead millions of our people to better lives and improved livelihoods.
The inaugural Women in FinTech initiative in 2020 exceeded expectations and left no doubt that women are ready to play a starring role in the digital financial services space and can fill the product gap the sector currently contends with.
All the 15 participating teams in 2020 presented excellent ideas, and HiPipo is more than pleased to reveal that it supported three (3) of them to grow into startups, each with a Minimum Viable Product (MVP) that’s ready for the market, which was a success to an extent that they went on to take part in the recently-concluded 40Days 40 FinTechs initiative.