Parallex Bank awards ₦10 million to winners of employee innovation challenge

Parallex Bank launched the challenge on 26 August to give employees across the Bank a way to bring forward ideas for growing revenue, reducing costs and improving day-to-day operations. Teams advanced through successive rounds, presenting their proposals to a panel drawn from across the Bank and from outside the organisation.

Olufemi Bakre, Managing Director and Chief Executive Officer of Parallex Bank, commended the participants for drawing on their experience to find better ways of doing business.

“Innovation thrives when everyone contributes. Through the Mayor’s Innovation Challenge, we have allowed our employees to turn their ideas into solutions that drive efficiency and create value. We are proud of their efforts and look forward to translating these ideas into measurable business results,” Bakre said.

The challenge is part of how Parallex Bank puts its Be Limitless philosophy into practice, giving employees a formal route to bring ideas from their day-to-day work to the people who can help develop them.

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