Ayodeji Ayenuwa
Team Hi-Tech claimed the N3 million top prize in the FCMB Hackathon Challenge, winning with their digital financial solution, Padi4Life.
The event, organized in collaboration with Ingressive For Good (I4G), drew a massive 2,900 entries and engaged 60 teams in a 72-hour hackathon.
With features like peer-to-peer lending, asset tokenization, and blockchain-based investment tools, Padi4Life by Team Hi-Tech stood out, securing its place on the final shortlist.
Other notable winners included Team KoloPadi, receiving N1 million for their solution, and Team Xperia, with solo representative Victor Tochukwu, clinching the N500,000 second runner-up prize for their Money Minder solution. The total prize pool amounted to N4.5 million.
Afolabi Ayanfe, Team Hi-Tech’s leader, expressed gratitude to FCMB, emphasizing Padi4Life’s mission to build a community of reliable financial partners for Nigerians.
The team reaffirmed their commitment to developing a robust platform catering to local requirements, stating, “Padi4Life is designed to build a community of trusted financial partners, meeting the needs of Nigerians.“
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In addition, Rolayo Akhigbe, Divisional Head of Transaction Banking at FCMB, underscored the bank’s focus on innovation through Open Banking.
She encouraged FinTechs, developers, and start-ups to leverage FCMB’s API for creating inclusive and sustainable solutions. “The future is connected, and open banking is key to unlocking this potential,” she remarked.
Meanwhile, Diran Olojo, Group Head of Corporate Affairs at FCMB, highlighted Open Banking as the future and urged winners and participants to collaborate, stating, “The future is connected, and open banking is key to unlocking this potential. With our APIs and more in development, we are addressing challenges and creating a more inclusive and sustainable financial system for everyone.”
The judging panel, led by Rolayo Akhigbe and including FCMB executives and Ingressive for Good CEO, Sean Burrowes, evaluated inventive concepts and technical skills showcased at the hackathon, fostering collaboration and networking for knowledge exchange.
Ultimately, First City Monument Bank, a part of FCMB Group Plc, emphasized its commitment to fostering inclusive and sustainable growth within communities.
Techrectory with Agency Report.
