NexaScale Partners with Accrue for Groundbreaking AI-Powered Fintech Hackathon
From May 12 to June 12, 2025, Africa’s tech landscape witnessed a significant milestone as NexaScale partnered with Accrue to deliver one of the continent’s most ambitious fintech hackathons.
The four-week virtual event brought together developers, designers, and technology innovators to tackle the complex challenge of cross-border payments through artificial intelligence and automation.
The Accrue x NexaScale Hackathon challenged participants to create innovative fintech solutions under the theme “Smart Finance for Everyone: AI & Automation in Cross-Border Payments,” addressing the critical question of whether AI and automation can make cross-border transactions simpler, smarter, and more accessible across Africa.
The competition generated significant interest across the continent, receiving over 150 applications before selecting 90 participants. These participants formed 12 multidisciplinary teams, each comprising frontend developers, backend developers, designers, and project managers.
The hackathon achieved a 50 per cent submission rate, with teams delivering functional prototypes that demonstrated real-world applicability.
Accrue served as both primary sponsor and technology partner, providing API access and real-time technical support that enabled participants to work with actual fintech infrastructure rather than theoretical concepts.
Three industry experts evaluated submissions based on eight criteria including theme alignment, innovation, technical complexity, API integration, implementation quality, user experience, documentation, and presentation quality.
Josemaria Osuorah, a cybersecurity leader and research scientist pursuing his PhD in Electrical Engineering at Prairie View A&M University, brought expertise in network security, machine learning, and IoT systems. His experience includes roles at Tek Experts (Microsoft) and Nigeocom (Huawei).
Divinefortune Nnweremizu, a Product Designer and UX Strategist, evaluated solutions based on user-centered design principles. Her track record includes improving customer retention by 30 per cent through enhanced onboarding processes and accessibility-focused design approaches.
Anukam Chidalu, a software engineer and cybersecurity specialist, assessed technical implementation and innovation potential. As a community leader and open-source contributor, she brought perspective on scalable technology solutions.
The competition’s top three winners demonstrated innovative approaches to persistent financial inclusion challenges across Africa:
First Place – CoopWise (N1m): This AI-powered digital platform modernises traditional African savings groups known as “ajo,” “esusu,” or “chamas.” The solution leveraged Accrue’s API to process deposits in stablecoins, providing inflation protection while maintaining cultural relevance. The team emphasised combining “cultural relevance with tech innovation to help people save together, track contributions, and receive smart financial tips.”
Second Place – TranXact AI (N600,000): Designed specifically for African SMEs and individuals, this platform automatically selects optimal payment routes, predicts foreign exchange rates, detects fraudulent transactions, and provides multilingual support.
The solution addresses the specific needs of cross-border commerce within Africa’s fragmented payment landscape.
Third Place – GlobePay AI (N350,000): This comprehensive solution targets freelancers, migrant workers, and small businesses engaged in global trade. Despite development constraints, the team successfully integrated Accrue’s hosted ramp to deliver what they described as a “human-centered experience” focused on “user accessibility, simplicity, and real-world relevance.”
Participant feedback highlighted the balance between technical sophistication and practical usability. Teams demonstrated varying levels of API integration complexity while maintaining focus on end-user accessibility. The solutions addressed key market challenges including currency volatility, high transaction costs, and limited access to formal banking services.
One team noted their pride in achieving significant results “as a three-person team,” while another expressed confidence that their “innovative AI-powered features and user-centric design will exceed expectations” and potentially “revolutionise cross-border finance.”
Insights for Future Development
The hackathon generated valuable insights for both organisers and the broader fintech ecosystem. Key learnings included the importance of comprehensive onboarding processes, early API access for deeper integration, and structured team formation tools. Organisers noted that flexible judging timelines proved essential for accommodating technical challenges inherent in complex fintech development.
The event reflects the growing momentum in Africa’s fintech sector, particularly in cross-border payments and financial inclusion technology. By emphasising AI-powered solutions, the hackathon addressed critical infrastructure gaps while showcasing the potential for locally-developed solutions to serve continental markets.
The hackathon was organised by NexaScale’s core team, led by founder Adora Nwodo, with support from program managers Bamigbade Oluwabusayomi, channel manager Cynthia Udoh, media lead Bisola Taiwo, and graphic designer Ameh Ugbede.
All winning teams received substantial cash prizes along with social media recognition and digital certificates. Beyond immediate rewards, the competition created opportunities for continued mentorship and potential commercial development of the innovative solutions.
