Please note that the details of this Challenge are no longer open. This challenge is awarded and is no longer accepting new submissions. You can:
Challenge Branchless Banking All-In-One Device
Branchless Banking All-In-One Device
STATUS: Awarded
Active Solvers: 606
Posted: Feb 27 2009
Challenge ID: 7982292
 
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Abstract
The Seeker, a globally operating not-for-profit, is looking to streamline the suite of information technologies used by field agents that work in the financial industry in the developing world. This is an Ideation Challenge so Solvers need only offer high-level pen-and-paper solutions.
Overview
The Seeker is a not-for-profit with a global reach and is working on improving the financial services for the poor in developing nations. The Challenge centers on the fact that current models of "branchless banking" require banking agents to travel into remote regions with a significant amount of technology including laptops, power sources and additional devices. The fact that the agents need to transport and set up so much equipment unnecessarily elevates the cost of deploying their banking services. The Seeker is looking for solutions to streamline the process. This Ideation Challenge only requires Solvers to make well thought-out recommendations of possible improvements. Since this is an Ideation Challenge, the full award of $10,000 will be paid to the winner or split between winners should multiple submissions be awarded.
What is InnoCentive?
InnoCentive is the global innovation marketplace where creative minds solve some of the world's most important problems for cash awards up to $1 million. Commercial, governmental and humanitarian organizations engage with InnoCentive to solve problems that can impact humankind in areas ranging from the environment to medical advancements.

What is an InnoCentive Ideation™ Challenge?

An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.

In an Ideation™ Challenge, Solvers may:

  • Submit ideas of their own
  • Submit third party information that they have the right to use and further the authority to convey that right and the right to use and develop derivative works to Seekers
  • Submit information considered in the public domain without any limitations on use

Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.

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