FirstBank Group, one of Nigeria’s leading commercial banks, has reaffirmed its commitment to advancing fintech innovation by awarding N29.5 million to 10 exceptional startups at its First Bank Fintech Summit 6.0, themed Banking on Partnerships.
NearSwipe Limited, a fintech startup offering NFC chip ID cards with integrated payment solutions for university students, emerged as the grand winner, receiving the grand prize of N10 million.
- The two-day event, which held on Wednesday, November 13 and Thursday, November 14, 2024, at the Lagos Continental Hotel, Kofo Abayomi Street, Victoria Island, Lagos, brought together fintech leaders, investors and industry experts.
- Out of 147 applicants, 10 startups were selected for their potential to have a significant impact on financial inclusion and economic development.
- These startups showcased solutions ranging from digital savings platforms to AI-based business automation tools, aligning with the event’s theme of fostering collaboration in the financial ecosystem.
- FirstBank Group CEO/Chief Executive Officer, Olusegun Alebiosu, has highlighted the importance of partnerships in driving change.
He noted, “The First Bank Fintech Summit 6.0 is more than a conference. It is a catalyst for change. Our goal is to foster partnership 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. »
On the first day, the summit featured a pitch session where finalists presented their already developed solutions to a distinguished panel.
After rigorous deliberations, NearSwipe Limited won 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 savings and credit platform bank, won 7.5 million naira and 5 million naira. million, respectively.
The remaining seven finalists each received 1 million Naira to improve their solutions.
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Speaking on the sidelines of the event, Lande Atere, Head of Customer Experience at First Bank of Nigeria, highlighted the bank’s commitment to collaboration.
She explained: “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.
- The company’s head of transformation, Olayinka Situ, also highlighted that FirstBank’s support for fintech goes beyond the top.
- He revealed that innovators can present their ideas on the bank’s website, creating opportunities for ongoing partnerships.
- FirstBank’s proactive stance reflects its commitment to empowering startups and driving digital transformation. With events such as the Fintech Summit 6.0, the bank continues to strengthen its role in promoting innovation, collaboration and growth within the Nigerian financial ecosystem.
