The First Bank of Nigeria has earmarked about N5.2 million for the coding Hackathon competition taking place in Lagos.

Mrs Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, said in Lagos on Wednesday that 10 teams would be contesting for the grand prize of N3million in the competition to show off their technological and artificial intelligence capabilities.

According to her, the second and third best teams will win the sum of N1.5million and N750, 000, respectively.

Ani-Mumuney said that the Hackathon was projected to focus on Artificial Intelligence and Big Data.

”In line with its corporate strategy to drive transformation through its products, processes and services, FirstBank has announced a 3-day FINTECH summit.

”Themed the future of banking – the role of Artificial Intelligence and big data.

”The event is convened to increase technological support and collaboration with the tech community whilst deepening the Bank’s technological inclusion framework to improve its product offerings and services delivery experience.

”The FirstBank 2018 FINTECH summit is scheduled to kick off with a 2-day coding competition – Hackathon – billed for Thursday and Friday 11th and 12th October 2018.

”Whilst the summit holds Wednesday 17 October 2018 with over 700 Fintech players, key stakeholders and tech lovers in attendance.

”The 10 teams will also have an opportunity to showcase their solutions at the Fintech summit scheduled for 17 October 2018,” she said in a statement.

She said that to attend the main event on Oct. 17 interested participants should interact with the Bank on Instagram – @firstbanknigeria; twitter – @firstbankngr and First Bank of Nigeria Limited on Facebook.

The News Agency of Nigeria (NAN) reports First Bank is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria.

With some 14 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations.