Union bank

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


…reiterates commitment to innovation and technological advancement in Nigeria

Lagos, Nigeria – A leading financial institution, 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.

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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.

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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 sector, 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.”

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The launch event held on April 7and 2022 had the Special Guest of Honour, Mr. Tunbosun Alake, Special Advisor on Innovation and Technology to the Governor of Lagos State, present. 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 trusted partner in good faith for the future generation. SpaceNXT is a sandbox for culture change and a lever to drive innovation and technology in Nigeria.”

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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 this time. According to him,

For us at Union Bank, we believe that the best way to predict the future is to create it. That’s why we go beyond the banking sector to take a strategic position as catalysts for success within the 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.”

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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 technology landscape in Nigeria.

See more photos from the event below:

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