Access Bank Restates Commitment to Tech Innovation

Access Bank Restates Commitment to Tech Innovation

Access Bank Plc has said it will continue to support any technology innovation that will solve the country’s challenges and proffer solution to its digital transformation agenda.
The company’s Chief Executive Officer, Mr. Herbert Wigwe, gave the commitment during the presentation by finalists in the software category of the Lagos Smart Metre Hackathon, which held in Lagos recently.
Wigwe, who was represented by the bank’s Executive Director, Information Technology (IT) and Operations, Mr. Ade Bajomo, said: “Access Bank is built on innovation, and will always support innovations that can solve challenges for the people. Innovation is part of us and we are forever looking for new things to do to solve real challenges in Africa and beyond Africa. We are always in support of innovations that will move the lives of our people forward and give them more opportunities to become financially independent.”
According to Wigwe, the bank had thrown its weight behind the Lagos Smart Metre Hackathon because it was crucial to solving the power problem in Nigeria, leveraging technology.
Speaking at the event, the convener of the Lagos Smart Metre Hackathon, the Commissioner for Energy and Mineral Resources, Lagos State, Mr. Olalere Odusote, thanked Access Bank for identifying with the state as the Diamond Sponsor of the Hackathon. While noting that the five finalists in the hardware category had impressed the judges the previous day, he said much was being expected from the software finalists as well.
Odusote noted that Hackathon was not just a one-time project as the government would take it further to ensure that all the solutions developed by the participants were put to use. “We are not just doing Hackathon for the sake of it, we will take the products to the commercial development process,” he said.
Odusote disclosed that the Hackathon received 274 entries, where 127 bided in the hardware category, while 147competed in the software group.
He however said that only 65 hardware and software prototypes were submitted by applicants. The shortlisted five finalists from the hardware category were Cosmo Automation, Smart Energy, Techwizard, Power Bit Cruchers and Gadozz Electricals, while the five software finalists were: Vectorians, Zeena Platform, Magnitronics, Chosen Soft Tech, and Gideon.
The Commissioner noted that despite significant investments and resolutions along the electricity value chain over the year, there still remained a huge metering gap of over 60 per cent of electricity consumers in Lagos and Nigeria. He said the Lagos Smart Metre Hackathon was conceived to bridge the metering gap in the state and country.