FirstBank has reiterated its drive to advance cross-border partnerships, financial inclusion, and innovative solutions in global fintech by sponsoring the recently concluded Canada-Africa Fintech Summit (CAFS 2025) held at the Sheraton Centre, Toronto.
Organised by Dr. Segun Aina, President of the African Fintech Network, the summit brought together regulators, fintech innovators, investors, and startups from Africa and Canada. The gathering explored scalable digital products, attracted investment interest, and encouraged inclusive economic growth between the two regions.
Speaking on the bank’s involvement, Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications at FirstBank, said:
“Our partnership with CAFS 2025 reflects our conviction that collaboration between African and Canadian fintech sectors can deliver game-changing innovations. We are proud to be part of shaping that vision.”
Ijabiyi stressed the importance of a coordinated and transparent regulatory framework to inspire public confidence and draw private-sector funding, adding:
“With every collaboration, we learn, improve, and ultimately create greater value for consumers.”
During a panel session, Rachel Adeshina, FirstBank’s Chief Technology Officer, discussed the use of artificial intelligence to extend credit access to underserved communities.
“We’re tackling data poverty by applying AI to analyse alternative data sources, enabling lending to people who might otherwise be overlooked by traditional credit systems,” she explained.
She revealed that the bank has disbursed over ₦1 trillion in digital loans using this approach, maintaining a repayment rate above 99%. According to her, the success stems not only from technology but also from supportive policies such as API banking rules, data protection laws, and a shift toward wallet-based banking.
Adeshina also pointed out that Africa’s fragmented markets demand interoperability to achieve true scale:
“The real breakthrough will come when we can connect all 54 markets — fintechs are perfectly positioned to make that happen.”
The summit aligns with Canada’s Africa Strategy, which seeks to deepen trade, digital collaboration, and knowledge exchange. With Africa’s fintech scene rapidly expanding and Canada moving toward open banking, CAFS 2025 offered a timely forum for aligning priorities and sparking new partnerships.