A digital platform, Padi4Life, created by Hi-Tech has won the maiden edition of the FCMB Hackathon Challenge.

This was revealed in a statement issued by the bank on Monday, where it indicated that Team Hi-Tech, led by Afolabi Ayanfe and Sophia Ezeh, won the top prize of N3 million for the creation of the digital financial solution, Padi4Life, which stood out for its peer-to-peer lending, asset tokenisation, and blockchain-based investment and engagement features.

The hackathon was done in collaboration with Ingressive for Good to foster innovation and creative problem-solving.

At the hackathon, the Divisional Head of Transaction Banking at FCMB, Rolayo Akhigbe, stressed the bank’s commitment to innovation through Open Banking. She urged FinTechs, developers, and start-ups to utilise First City Monument Bank’s Application Programming Interface (API) to develop inclusive and sustainable solutions.

Group Head of Corporate Affairs at FCMB, Diran Olojo, in his comments also encouraged winners and participants to collaborate with the bank, saying that Open Banking is the future.