Union Bank Creates Innovative Co-Creation Hub, SpaceNXT

By Modupe Gbadeyanka

A technological and innovation hub known as SpaceNXT, which is expected to provide an enabling environment where tech enthusiasts, has been created by Union Bank of Nigeria Plc.

The facility is located within the head office of Union Bank in Lagos and will be an avenue for stakeholders to converge for the propagation of new ideas around digital systems and technology.

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.

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.

At the unveiling of the co-working hub for innovators, creators and techpreneurs on Thursday, April 7, 2022, the Executive Director and Head, Retail Banking and Digital, Union Bank, Ms Lola Cardoso, said SpaceNXT will revolutionise the tech space.

“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.

The Special Adviser to Governor Babajide Sanwo-Olu of Lagos State on Innovation and Technology, Mr Tunbosun Alake, commended the lender for the initiative.

“This is indeed a laudable moment for Union Bank,” he said, noting that, “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 added.

Union Bank’s Chief Executive Officer, Mr Emeka Okonkwo, while explaining the rationale behind the facility, 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.”