FirstBank Group, one of Nigeria’s leading commercial banks, has taken a bold step in advancing fintech innovation. At its FirstBank Fintech Summit 6.0, the bank awarded N29.5 million to 10 exceptional startups, reinforcing its commitment to collaboration and growth in the financial ecosystem.
NearSwipe Limited, a fintech startup providing NFC smart ID cards with integrated payment solutions for university students, won the grand prize of N10 million.
Advancing Financial Inclusion Through Partnerships
The two-day summit, held on November 13 and 14, 2024, at the Lagos Continental Hotel, brought together leaders, investors, and industry experts. The event, themed Banking on Partnerships, showcased innovative solutions aligning with the goal of fostering collaboration in Nigeria’s financial ecosystem.
Out of 147 applicants, 10 promising startups were shortlisted for their potential to drive financial inclusion and economic development. These startups, including NearSwipe Limited, Middleman, and Esusu Africa Limited, presented groundbreaking ideas in areas like digital thrift platforms and AI-powered business automation tools.
Key Winners and Prizes
After rigorous pitching sessions and evaluations, the winners emerged:
- NearSwipe Limited – Grand prize of N10 million.
- Middleman – Second prize of N7.5 million.
- Esusu Africa Limited – Third prize of N5 million.
- Seven additional finalists received N1 million each to refine their solutions.
FirstBank Group CEO Olusegun Alebiosu emphasized the importance of partnerships. He stated, “The FirstBank Fintech Summit is more than a conference. It is a catalyst for change. By fostering collaboration, we unlock new possibilities and create a resilient financial system.”
Collaboration with Startups
Lande Atere, Chief Customer Experience Officer, highlighted the bank’s unique approach. She explained, “We are not competing with fintechs but looking for ways to collaborate. Through bootcamps and connections with investors, we help startups grow while improving Nigeria’s financial landscape.”
FirstBank’s proactive stance extends beyond the summit. Innovators can pitch their ideas on the bank’s website, paving the way for ongoing partnerships and long-term digital transformation.
With events like the Fintech Summit, FirstBank solidifies its role as a leader in fostering fintech innovation and growth. By empowering startups and facilitating collaboration, the bank continues to shape a more inclusive and innovative financial ecosystem in Nigeria.
