FirstBank Backs Inclusive Fintech Innovation at Canada-Africa Fintech Summit 2025
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…Bank highlights cross-border collaboration, AI-driven credit access for underbanked
Lagos, 9 August 2025 — FirstBank has reaffirmed its commitment to inclusive financial innovation through its sponsorship of the Canada-Africa Fintech Summit (CAFS 2025), held from August 5–8 at the Sheraton Centre, Toronto, Canada.
The summit, convened by Dr. Segun Aina, President of the African Fintech Network, brought together fintech leaders, regulators, startups, and investors from both continents to explore scalable digital solutions, encourage investment, and promote inclusive economic growth.
Speaking on the bank’s role, Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, said FirstBank’s sponsorship underscores its dedication to fostering cross-border partnerships.
“Our support of CAFS 2025 reflects our belief that collaboration between African and Canadian fintech ecosystems can lead to transformative innovations,” Ijabiyi said. “FirstBank is proud to help shape that future.”
During a panel session with Rudy Cuzzeto, MPP for Mississauga–Lakeshore, and David Stevenson, Country Director for the United Nations World Food Programme (Nigeria), Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, stressed the importance of digital collaboration in Africa’s financial ecosystem.
“The technology is the easy part,” he noted. “The real challenge lies in maintaining security, consent, and performance. In Nigeria, fintech has evolved beyond disruption to convergence, integrating banks, fintechs, and regulators into an agile and accountable ecosystem.”
He further emphasised that regulatory clarity is vital for building trust and attracting investment: “The more we collaborate, the more lessons we learn, and the greater the benefits for consumers.”
In another panel, Rachel Adeshina, FirstBank’s Chief Technology Officer, shared how the bank is leveraging artificial intelligence to expand credit access for the underbanked. “We’re addressing data poverty by using AI to interpret alternative data, enabling lending to people who might otherwise be invisible to the traditional credit system,” she explained.
Adeshina revealed that FirstBank has disbursed over ₦1 trillion in digital loans using its AI model, achieving a repayment rate above 99%. She credited this success to supportive policies such as API banking regulations, data privacy laws, and a shift from account-based to wallet-based banking. She also called for greater interoperability to scale digital finance across Africa: “Connecting the 54 markets is the next big challenge, and fintechs are best positioned to lead that effort.”
The event was part of Canada’s wider Africa Strategy, aimed at deepening economic partnerships, enhancing digital cooperation, and promoting innovation exchange. With Africa’s fintech sector expanding and Canada developing its open banking framework, CAFS 2025 served as a strategic platform to align approaches and drive collaboration.
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