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Hi-Tech Triumphs in FCMB’s Groundbreaking Hackathon

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In a remarkable display of innovation, Team Hi-Tech, led by Afolabi Ayanfe and Sophia Ezeh, emerged victorious in the inaugural FCMB Hackathon Challenge, securing a N3 million prize. Their winning entry, Padi4Life, is a digital financial solution developed in collaboration with Ingressive For Good (I4G). The hackathon, which featured over 2,900 entries from 60 teams, highlighted Hi-Tech’s solution for its pioneering peer-to-peer lending, asset tokenization, and blockchain-based investment features.

Padi4Life aims to cultivate a trusted financial community for Nigerians. Ayanfe, Team Hi-Tech’s leader, expressed gratitude for the opportunity provided by First City Monument Bank (FCMB) to launch their platform, emphasizing its alignment with the needs of Nigerians.

The hackathon also celebrated other innovative solutions. Team KoloPadi, comprising Rita Onwudiwe and Augustus Shaminga, claimed the N1 million runner-up prize for their KoloPadi solution, while Victor Tochukwu of Team Xperia won the second runner-up prize with the Money Minder solution. Despite challenges, such as team members dropping out, determined participants like Victor Tochukwu persevered, underscoring the resilience of these emerging tech talents.

FCMB’s Divisional Head of Transaction Banking, Rolayo Akhigbe, underscored the bank’s commitment to fostering innovation through Open Banking. She encouraged FinTechs, developers, and startups to utilize FCMB’s APIs for developing inclusive and sustainable solutions. Diran Olojo, Group Head of Corporate Affairs at FCMB, echoed this sentiment, emphasizing Open Banking as the future of finance and inviting tech innovators to collaborate with the bank in this endeavor.

The hackathon judges included FCMB and I4G’s top executives, showcasing a broad range of expertise. This event was not just a competition but a platform for fostering collaboration, networking, and knowledge exchange among participants, aligning with FCMB’s mission to support inclusive and sustainable community growth.

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