Union Bank Launches Future-Forward Innovative Co-Creation Hub, SpaceNXT

One of the leading financial institutions, Union Bank has launched a technological and innovation hub known as SpaceNXT.

Located within the Union Bank Head Office in Lagos Nigeria, SpaceNXT 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.

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

The launch event which was held on April 7th 2022 had Special Guest of Honour, Mr Tunbosun Alake, Special Adviser on Innovation and Technology to the Governor of Lagos State, in attendance. He officially opened the space alongside the executives of the Bank.

Speaking during the ribbon-cutting ceremony, he said, “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.”

Union Bank Launches Future-Forward Innovative Co-Creation Hub, SpaceNXT

SpaceNXT was conceived as part of the Bank’s mission to enable success for the tech community in Nigeria by providing a space that would foster collaboration within the ecosystem. Union Bank’s Chief Executive Officer, Emeka Okonkwo, shared the Bank’s reason for launching SpaceNXT at this time.

According to him, “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, training and meetings. Union Bank remains committed to the acceleration of the technological landscape in Nigeria.