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FirstBank Awards N29.5m to Startups at Fintech Summit 6.0
First Bank Awards Startup: FirstBank, one of Nigeria’s leading commercial banks, has reaffirmed its commitment to advancing fintech innovation by awarding N29.5 million to 10 standout startups at its First Bank Fintech Summit 6.0, themed Banking on Partnerships.
First Bank Awards Startup At Fintech Summit
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.
Out of 147 applicants, 10 startups were shortlisted for their potential to make significant impacts on financial inclusion and economic development.
Also Read: How to Delete Transaction History on First Bank Easily
Fintech Summit 6.0, A Catalyst For Tech Change
These startups showcased 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 FirstBank Group CEO/MD, Olusegun Alebiosu, highlighted the importance of partnerships in driving change.
He noted, “First Bank Fintech Summit 6.0 is more than a conference. It is a catalyst for change. We aim to foster partnership for change, spark creativity and drive progress.
“First Bank Awards Startup At Fintech Summit. By working together, we can unlock new possibilities and create a more inclusive, resilient, and innovative financial system.”
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.
NearSwipe Emerges as The Overall Winner
Following rigorous evaluation, NearSwipe emerged as the overall winner for its innovative approach to integrating payment solutions into student ID cards.
Lande Atere, Chief Customer Experience Officer at FirstBank, highlighted the bank’s collaborative approach to working with fintechs.
“We are not necessarily competing with fintechs but rather looking for ways to collaborate,” Atere said.
“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.”
