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Stanbic IBTC empowers start-ups with new innovation lab

The dream of young entrepreneurs to build successful businesses has received a major boost following the establishment of the Stanbic IBTC Blue Lab, a facility that avails start-ups and small and medium scale enterprises the platform to incubate and actualize their dreams.

At the inauguration of the innovation platform took place in Lagos last week, Demola Sogunle, chief executive, Stanbic IBTC Bank PLC, said constant innovation is imperative to secure the future of any enterprise. He noted that new technologies alone will not guarantee future success, as the ever changing demands of today’s highly informed consumers make continuous innovation inevitable.

Located at Yaba, the emerging innovation hub in Nigeria, the facility boasts of meeting and open areas where techprenuers could network, brainstorm, research and nurture innovation and ideas, under a setting that ensures full concentration and support from Stanbic IBTC experts.

“As a member of the Standard Bank group with over 154 years of existence, it is clear that we are here for the long term. We are on a marathon, not a sprint. And we understand the importance of Innovation in sustaining the tempo that is required to remain in business. This is why we have invested in the Stanbic IBTC Blue Lab, an innovation hub that will serve as an incubator for our young thinkers with great ideas. It is a hub that will help to nurture the ideas that will re-write our future. The hub is part of our strategy to lead with innovation”, Sogunle stated.

The Stanbic IBTC Chief emphasized that a demonstration of the organization’s commitment to harnessing innovation and technology to build communities is underscored by its pervasiveness on several social media platforms; including Twitter, Facebook, LinkedIn and Instagram, as well as the establishment of an all-digital branch in Lagos, all designed to make financial products and services easily accessible to a wide array of clientele, including the youth.

Founder and Managing Director, Sankore Investments, Titi Odunfa-Adeoye, commended Stanbic IBTC for its foresight in championing the innovation revolution in Nigeria, adding that the bank showed uncommon interest in partnering with her organization, which was instrumental in facilitating the rapid growth of Sankore.

On his part, Managing Partner, Co-Creation Hub, Tunji Elesho, noted that the establishment of the innovation lab by Stanbic IBTC was not by happenstance. It stemmed from a perceptive recognition of the innovation ecosystem around Yaba and the need to deepen its evolution with both financial and advisory support. This will create a win-win situation for all stakeholders, he added.

Gboyega Dada, Stanbic IBTC’s Chief Information Officer, reiterated the organization’s unrelenting pursuit of excellence and innovation to ensure that the expectations of clients are met via bespoke products and services.

Stanbic IBTC Holdings PLC is a financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and market capitalization. It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for over 154 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.



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