The Banks of the Future will be in a Coworking Space

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We continue to unbox opportunities and showcase global trends in coworking for different sectors. Today, it’s all about Banking & Coworking! Recently on Twitter the MD of Diamond Bank, Uzoma Dozie tweeted about his belief in digital as the future of banking. We agree with him. We also believe that the future of work is coworking and coworking is a key channel to realize the future of banking. Global banks understand the Coworking opportunity and are proactively partnering with coworking spaces for mutual benefit.

The collaboration is taking place around 4 themes, which are:

1 – Run Accelerator programs: Banks like Citibank and Barclays run fintech accelerators to drive innovation on topics important to them.

2 – Sponsor tech incubators: The Floor Hub LTV is an innovative fintech hub with HSBC, Santander, RBS, Deutsche as partners.

3 – Offer Coworking spaces to SME customers using idle branch space or in existing Coworking spaces. Idea Bank Poland branch Coworking spaces were such a hit, it boosted their share of SME business. BNP Paribas partnered with Co Station to make Coworking available to their customers.

4 – Leverage Coworking spaces as “digital bank” showrooms: As a digital bank, why run up physical locations when you can leverage existing Coworking spaces and go where your clients are?

How will banks and coworking spaces partner in Nigeria? Which bank will take the lead in the Coworking industry? Will it be Diamond Bank with their tech affinity and focus on SMEs? Or will it be Fidelity Banking, largely considered the best bank for SME solutions? Or maybe it might be Wema Bank, taking the lead in Coworking as they are doing with digital banking with ALAT by Wema? Perhaps Access Bank because they have been active in the fintech space with investments like Pay With Capture. Hopefully First Bank, Zenith Bank, GTBank, UBA, Union Bank and others will also key into it. The more banks that get involved in the industry the better for entrepreneurship and innovation.

With this we end by asking; which bank do you think will take the lead in Nigeria’s Coworking industry? Regardless of which bank it is, the intersection of the future of working and banking looks exciting!

 

Bamidele Osidele

 

 

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