Union bank

Beyond banking, Union Bank launches SpaceNXT, an innovative and forward-looking co-creation hub

Bank officials

…reiterates commitment to innovation and technological advancement in Nigeria

Union Bank has launched a technology and innovation hub known as SpaceNXT. Designed to promote innovation and encourage collaboration within the technology ecosystem in Nigeria, SpaceNXT is a future-proof coworking hub for innovators, creators and techpreneurs.

Located at Union Bank’s headquarters in Lagos, Nigeria, SpaceNXT was created 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 ideas around digital systems and technology.

Lola Cardoso, Executive Director and Head, Retail and Digital Banking, Union Bank, spoke about the benefits of SpaceNXT to the technology ecosystem. She says,

“Globally, technology and innovation are the main 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 industry, we need to create an enabling environment that fosters collaboration and fosters strong partnerships within the ecosystem, which is why we launched SpaceNXT – to serve and enable the growth of the technology community.

The launch event held on 7th April 2022 hosted the special guest of honour, Mr. Tunbosun Alake, Special Advisor for Innovation and Technology to the Governor of Lagos State. He officially inaugurated the space alongside the Bank’s executives. Speaking at the inauguration ceremony, he said:

“It is indeed a laudable moment for Union Bank. With the launch of SpaceNXT, Union Bank has established itself as a truly trusted partner for the future generation. SpaceNXT is a sandbox for culture change and a lever helping to drive innovation and technology in Nigeria.

SpaceNXT was designed as part of the Bank’s mission to enable the success of the technology community in Nigeria by providing a space that would foster collaboration within the ecosystem. Union Bank Chief Executive Officer Emeka Okonkwo shared the reason why the Bank launched the Space at that time. According to him,

“For us at Union Bank, we believe the best way to predict the future is to create it. That’s why we go beyond the banking industry to be strategically positioned as catalysts for success within technology and innovation industry. We are thrilled to have the opportunity to activate the ecosystem and co-create a brighter future than we can imagine today.”

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