Silvia Otuo Acheampong, Chief Products and Services Officer of MobileMoney Fintech Limited, has urged participants in the MobileMoney Fintech Lab Hackathon to prioritise customer needs and develop innovative ideas into practical products and services.
She said innovation should go beyond generating ideas to translating them into valuable solutions that address real problems faced by individuals and businesses.
Delivering a keynote address at the MobileMoney Fintech Lab Hackathon in Accra, Ms Otuo Acheampong said participants must demonstrate the feasibility and usefulness of their proposals rather than focus solely on impressing the judges.
She stressed that successful innovation must begin with a clearly defined problem and a solution capable of meeting an identified customer need.
“When you are pitching your ideas, I know this morning you want to impress the judges, but it is about the customer,” she said, urging participants to consider the needs of individuals, small businesses and large corporations.
She explained that the hackathon was part of the company’s efforts to bring external innovation into its operations while creating a platform for young people to develop solutions that could improve financial services.
Ms Otuo Acheampong disclosed that the initiative had attracted applications from young innovators, with 19 ideas presented during the initial stages of the programme.
She said about 12 ideas were pitched during an earlier session, with participants given five minutes each to present their proposals.
According to her, the ideas covered different areas and demonstrated the potential of young people to identify challenges and develop solutions across various sectors.
She added that the competition had progressed to the final stage, with nine ideas remaining from the initial selection process.
The Chief Products and Services Officer encouraged participants who had advanced to the final stage to remain determined and use the opportunity to demonstrate the practical value of their innovations.
She also urged participants to support one another by offering constructive feedback and suggestions that could strengthen the ideas being presented.
Ms Otuo Acheampong further highlighted the importance of collaboration in developing solutions that could transform financial transactions and improve the delivery of financial services.
She said fintech innovation should focus on using technology to address everyday challenges within the financial environment, particularly in areas such as payments.
She also acknowledged the efforts of the team responsible for driving the innovation initiative, particularly Tomi and Massi, for their work in bringing the programme together.
She called on participants to embrace innovation that delivers value to customers, supports businesses and contributes to the wider community.
