By Stanley Onyeka, Lagos
To further make significant impacts on financial inclusion and economic development in the country, the First Bank Group, has restated its commitment to advancing Financial Technology (FinTech) innovation as it awarded N29.5 million to 10 exceptional startups at its First Bank FinTech Summit 6.0.
The 10 were pruned from a list of 147 applicants for the awards and were chosen for their potential to make significant impacts on financial inclusion and economic development.
The startups showcased FinTech solutions ranging from digital thrift platforms to AI-powered business automation tools, aligning with the event’s theme of fostering collaboration in the financial ecosystem.
The two-day event held in Lagos, under the theme: “Banking on Partnerships”, was designed to strengthen the banking group’s role in fostering innovation, collaboration, and growth in the Nigerian financial ecosystem.
By working together, we can unlock new possibilities and create a more inclusive, resilient, and innovative financial system.
Speaking at the conference, Managing Director and Chief Executive Officer (CEO), First Bank Nigeria (FBN) Limited, Olusegun Alebiosu, stressed the importance of partnerships in driving change in the country’s financial ecosystem.
He said: “First Bank FinTech Summit 6.0 is more than a conference. It is a catalyst for change. We aim to foster partnership you for change, spark creativity and drive progress.
“By working together, we can unlock new possibilities and create a more inclusive, resilient, and innovative financial system.”
Near Swipe Limited, a FinTech startup offering NFC smart ID cards with integrated payment solutions for university students, emerged the overall winner, and received the grand prize of N10 million.
Middleman, a startup enabling seamless payments for African e-commerce businesses to suppliers in China, and Esusu Africa Limited, a digital thrift and credit banking platform, won N7.5 million and N5 million, respectively.
The seven other finalists each received N1 million to enhance their solutions.
In her remarks, Chief Customer Experience Officer, FBN Limited, Lande Atere, highlighted the bank’s commitment to collaboration.
She said: “We are not necessarily competing with FinTechs but rather looking for ways to collaborate.
“By bringing startups into conversations, offering bootcamps, and connecting them with investors, we aim to help them grow their businesses while improving the financial landscape for Nigerians.”
Similarly, Head, Corporate Transformation at FBN Limited, Olayinka Situ, noted First Bank’s support for FinTech goes beyond the summit, as innovators are encouraged to pitch their ideas on the bank’s corporate Web site, creating opportunities for ongoing partnerships.
