Leading financial institution, Union Bank has launched a technological and innovation hub known as SpaceNXT.

According to the bank, the newly launched hub, located within the Union Bank Head Office in Lagos Nigeria, was built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria.

“SpaceNXT is a future-forward purpose designed co-working hub for innovators, creators and techpreneurs.

“It was set up to provide an enabling environment where tech enthusiasts, visionaries and creators can converge for the propagation of new ideas. It is a launching pad for innovators to collaborate, develop and improve on ideas around digital systems and technology”, the bank stated.

The launch event which was held on Thursday, 7^th April 2022, had the Special Adviser on Innovation and Technology to the Governor of Lagos State, Mr. Tunbosun Alake in attendance.

Mr. Alake, who was also the event’s Special Guest of Honour, officially opened the space alongside the executives of the Bank.

“This is indeed a laudable moment for Union Bank. With the launch of SpaceNXT, Union Bank has established itself as a bonafide trusted partner for the future generation. SpaceNXT is a sandbox for culture change and an enabling lever to drive innovation and technology in Nigeria”, he said.

Also, the Executive Director and Head, Retail Banking and Digital, Union Bank, Lola Cardoso, spoke on the benefits of SpaceNXT to the tech ecosystem.

“Globally, technology and innovation are key drivers of growth, and here in Nigeria, the tech community is at the forefront of our ongoing digital revolution. To unlock the massive potential of the sector, we must create an enabling environment that promotes collaboration and fosters strong partnerships within the ecosystem, this is why we launched SpaceNXT – to serve and enable the growth of the tech community”, she said.

Union Bank’s Chief Executive Officer, Emeka Okonkwo, while reiterating the bank’s commitment to innovation and technological advancement in Nigeria, said:  “For us at Union Bank, we believe the best way to predict the future is to create it. This is why we are pushing beyond banking to take a strategic position as enablers of success within the tech and innovation industry. We are excited at the opportunity to enable the ecosystem and co-create a future that is brighter than we can imagine today”.

Besides being a hub for sharing and generating innovative ideas, SpaceNXT will also serve as a venue for tech and innovation events, hackathons, trainings and meetings. Union Bank remains committed to the acceleration of the technological landscape in Nigeria.

Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognizable brand, with an extensive network of over 300 branches across Nigeria.

The Bank currently offers a variety of banking services to both individual and corporate clients including current, savings and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing and trade finance. The Bank also offers its customers convenient electronic banking channels and products including Online Banking, Mobile Banking, Debit Cards, ATMs and POS Systems.