*The First Bank Group restates its commitment to advancing Financial Technology (FinTech) innovation, as the financial institution awards N29.5 million to 10 exceptional startups for significant impacts on financial inclusion and economic development, at the recent FinTech Summit 6.0. event, in Lagos

Isola Moses | 绿帽献妻

In a bid 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.

绿帽献妻 reports the two-day event with the theme, “Banking on Partnerships”, held

The two-day event, held November 13-14, 2024, at the Lagos Continental Hotel, Victoria Island, Lagos.

The recent First Bank’s FinTech Summit 6.0, among others, was designed to strengthen the banking group’s role in fostering innovation, collaboration, and growth in the Nigerian financial ecosystem.

During the FinTech Summit, Near Swipe Limited, a FinTech startup offering NFC smart ID cards with integrated payment solutions for University students, emerged as the overall winner, receiving the grand prize of N10 million.

The event, which attracted severa FinTech leaders, investors, and industry experts.

It was gathered of the 147 applicants for the awards, the First Bank Group had shortlisted 10 startups 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鈥檚 theme of fostering collaboration in the financial ecosystem.

Speaking at the conference, Mr. Olusegun Alebiosu, Managing Director and Chief Executive Officer (CEO) of First Bank Nigeria (FBN) Limited, stressed the importance of partnerships in driving change in the country’s financial ecosystem.

Alebiosu asserted: 鈥淔irst 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.

鈥淏y working together, we can unlock new possibilities and create a more inclusive, resilient, and innovative financial system.鈥�

Earlier on the first day of the summit, the event featured a pitching session where the FinTech finalists presented their already-developed solutions to a distinguished panel.

After rigorous deliberation, NearSwipe Limited claimed the top prize, while 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 on the occasion also, Lande Atere, Chief Customer Experience Officer at First Bank of Nigeria Limited, on the sidelines of the event, reportedly highlighted the bank鈥檚 commitment to collaboration.

Atere said: 鈥淲e 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.鈥�

In a similar vein, Olayinka Situ, Head of Corporate Transformation at FBN Limited, explained First Bank鈥檚 support for FinTech goes beyond the summit.

The bank top official stated that innovators could pitch their ideas on the bank鈥檚 corporate Web site, creating opportunities for ongoing partnerships.

It is also noted that First Bank鈥檚 proactive stance reflects its dedication to empowering startups and driving digital transformation.