FirstBank Group, one of Nigeria’s leading commercial banks, has reaffirmed its commitment to advancing fintech innovation at its Fintech Summit 6.0.
Themed Banking on Partnerships, the event awarded N29.5 million to 10 exceptional startups.
The two-day event, held on 13th and 14th November 2024, at the Lagos Continental Hotel, Victoria Island, Lagos.
It was a gathering of the
fintech leaders, investors, and industry experts.
On the first day, the summit featured a pitching session where the finalists presented their already-developed solutions to a distinguished panel
10 startups were shortlisted from the 147 applicants.
The 10 were selected for their potential to make significant impacts on financial inclusion and economic development.
These startups showcased solutions aligning with the event’s theme of fostering collaboration in the financial ecosystem.
Presentations ranged from digital thrift platforms to AI-powered business automation tools.
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.
By working together, we can unlock new possibilities and create a more inclusive, resilient, and innovative financial system.”
The Winners
After rigorous deliberation, the top 3 startups were selected.
NearSwipe Limited emerged as the overall winner, receiving the grand prize of N10 million. NearSwipe Limited, is a fintech startup offering NFC smart ID cards with integrated payment solutions for university students.
Middleman, a startup enabling seamless payments for African e-commerce businesses to suppliers in China, was first runner up, winning N7.5 million.
Esusu Africa Limited, a digital thrift and credit banking platform, won N5 million, as second runner up.
The seven other finalists each received N1 million to enhance their solutions.
Continued Support
Highlighting the bank’s commitment to collaborations, at the event, Lande Atere, Chief Customer Experience Officer at First Bank of Nigeria, 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.”
The Head of Corporate Transformation, Olayinka Situ, also emphasized that FirstBank’s support for fintech goes beyond the summit.
He disclosed that innovators can pitch their ideas on the bank’s website, creating opportunities for ongoing partnerships.
