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Stanbic IBTC Unveils innovation hub in Yaba

Stanbic IBTC Unveils innovation hub in Yaba


Stanbic IBTC Bank (Nigeria) Plc, Thursday, launched own innovation hub dubbed the Blue Hub in Yaba.

Speaking at the unveiling, Dr. Demole Sogunle, Chief Executive, Stanbic IBTC, disclosed that the bank’s moves were motivated by the fact there has been more changes in the industry in the last 10 years than there was in the last 100 years.

The rate of change is so fast, that the term globalization is now almost dated,” he said.

If you recall, 15 to 20 years ago, the trendy thing for businesses was to incorporate InfoTech in their operations. In Nigeria, the internet was fairly new at the time and therefore adding technology to your business meant that you were keeping with the trend.

Today, the story is different adopting new technologies alone will not secure the future of your business, to secure your future as a business today, to remain relevant in today’s competitive village, you need to Innovate; to continuously innovate to meet the ever changing demands of today’s highly informed consumers.

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 your young thinkers with great ideas.

“A hub that will nurture the ideas that will re-write our future”.

He further pledged that through the innovations to be harnessed from the hub, the Bank will soon launch the next big thing to happen in tech.

Also speaking at the unveiling, Mr. Ehia Erhaboh, Head of Innovation, Digital Enablement & Analytics, described Blue Hub as the part of the Bank’s strategy to lead with innovation.

Erhaboh reiterated that to be that agile financial services institution that is quick to respond to the ever changing demands of the next generation of consumers, Stanbic IBTC Plc has seen need to ‘disrupt’ itself and take the industry to a new height. We want to see the Facebook, Twitter, Googles of this world come out of Blue Hub.

“Startups working from here will have every support they need to succeed,” Erhaboh said.

He stated Specifically that, the Bank will harness the potentials provided by tertiary institutions around Yaba, adding that they are optimistic that the hub will deliver on its set objectives.

According to Ibifuro Apiafi, Analyst, IDEAs of the Innovation, Digital Enablement and Analytics Unit, Stanbic IBTC Bank Plc, the hub has general working space, multi functional arena, meeting rooms, customer experience space, ideas arena, kitchen, and other facilities, particularly free wi-fi.


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