Tier-one financial institution Zenith Bank has significantly reinforced its dedication to technological advancement in Nigeria's financial services sector by successfully hosting the fifth edition of its premier technology exhibition, Future Forward 5.0.
Major Tech Gathering in Lagos
The landmark event took place recently at the prestigious Eko Hotels & Suites in Lagos, attracting technology enthusiasts, innovators, and industry leaders from across the nation. The summit featured an intensive hackathon competition, comprehensive product exhibitions, and a dynamic startup pitch contest where finalists earned placement into an exclusive mentorship and incubation program designed to refine and scale their technological solutions.
Dr. Jim Ovia, CFR, the visionary Founder and Chairman of Zenith Bank, emphasized that the annual technology fair perfectly aligns with his longstanding mission of empowering Nigerian youth through technological education and opportunities. He expressed strong confidence that the country's young population will continue to redefine innovation frontiers and establish Nigeria among global technology leaders.
Bank's Technological Evolution
During her address, Dame Dr. Adaora Umeoji, the Group Managing Director and Chief Executive Officer, highlighted that this year's theme "Tech for Success: Innovate, Adapt, Accelerate" underscores the bank's strategic focus on embracing transformative technologies that are reshaping financial services globally.
She pointed to Nigeria's current technological landscape where innovations such as digital platforms, robotic-assisted medical procedures, virtual learning environments, autonomous vehicles, electric cars, and drone technology have become integrated into daily life. "What once seemed like distant future concepts has now become the global standard," she noted.
The CEO credited Dr. Ovia for establishing Zenith Bank's technology culture since the early 1990s, pioneering numerous industry-first innovations including ATM galleries, off-site ATMs in supermarkets, early internet banking platforms, transaction alerts via SMS and email, and modern POS systems that have since become industry standards.
Addressing Digital Challenges and Opportunities
Dr. Umeoji also addressed the accelerating pace of technological growth, referencing industry data indicating that most of the world's data has been generated within the past two years alone. She projected that artificial intelligence will maintain an annual growth rate exceeding 28% through 2030, while renewable energy technologies and blockchain innovations continue their rapid global expansion.
The banking executive issued a crucial warning about the risks accompanying digital advancement, specifically highlighting the growing threat of deepfakes and online manipulation. She shared a personal experience involving a doctored video of her that circulated without consent, emphasizing the urgent need for enhanced digital protection measures.
Governor Babajide Sanwo-Olu of Lagos State, represented at the event, commended Dr. Ovia's pioneering role in championing technology adoption within Nigeria's financial sector. He noted that many young Nigerians might not realize that numerous digital banking services they now enjoy were originally introduced under Dr. Ovia's leadership.
The governor also praised Dr. Umeoji and Zenith Bank's board for creating valuable opportunities for young innovators through the hackathon and pitch competitions, describing such platforms as essential for discovering solutions that address genuine societal needs.
The event featured a keynote presentation by Dr. Shivagami Gugan, Chief Technologist for the Middle East, Turkey and Africa at Amazon Web Services, titled "From Possibility to Practice: Unleashing GenAI and Agentic AI Full Potential," which explored how organizations worldwide are implementing generative and agentic artificial intelligence technologies.
