First Bank of Nigeria (FBN) Plc has organized the maiden edition of the Hackathon competition on Artificial Intelligence (AI) and Big Data to boost technological advancements in the banking sector.
Hackathon is an event typically lasting several days, in which a large number of people meet to engage in collaborative computer programming. Head, Digital Lab, FBN, Mrs. Lola Ekugo, said the competition was the first of its kind, in which innovators in 10 teams would compete to bring up innovative solutions to boost the banking sector.
Ten teams were shortlisted to participate in the two-day hackathon. The participants were expected to develop some financial solution to boost banking services leveraging on AI and Big Data.
Ekugo said it was important to continue to innovate and provide solutions for the customers’ base of over 12 million users.
“The digital lab was set up recently and the key objective was to champion innovation in the bank’s digital products engine over the coming years to save the future.
“So for us, the focus is to build digital products and innovative solutions. We also collaborate with Fintech, which is why we are situated in Yaba, which is like Silicon Valley in Nigeria.
“What we will like to do and what we have communicated with the participants is that the first three participants work with the team to bring up a solution that will benefit the bank.
