Stakeholders in Nigeria’s financial and technology sectors say artificial intelligence and stronger digital infrastructure are rapidly reshaping how financial services operate across Africa.
This was the focus at the BusinessDay Fintech Summit 2026, where industry leaders discussed how innovation, data, and automation are changing banking, payments, and financial inclusion on the continent.
Speaking during a panel session themed “Intelligent Finance: How AI, Data and Automation are Rewriting Financial Services,” the Chief Technology Officer of FCMB, Blessing Ehize, said AI is already having a direct impact on banking operations.
According to him, artificial intelligence is no longer a future idea but a present-day tool reshaping how financial institutions function.
“Artificial Intelligence is no longer a future concept; it is actively redefining how financial institutions operate,” he said. “From improving risk assessment and fraud detection to enabling personalised customer experience, AI allows us to respond to customer needs in real time.”
Ehize explained that the real advantage lies in how banks use data to build smarter and more inclusive financial systems that improve speed, accuracy, and customer experience.
He also noted that FCMB’s adoption of AI is guided by strict attention to trust, privacy, and regulatory compliance, stressing that technology must remain accountable and customer-focused.
“At FCMB, our approach to AI adoption is deliberate and responsible. We integrate AI in ways that enhance efficiency without compromising trust or compliance,” he said, adding that the bank’s ISO certification reflects its commitment to global standards.
He further stated that the future of banking will depend on balancing innovation with security and resilience, as financial institutions worldwide increasingly rely on AI-driven systems.
“The goal is to build systems that are intelligent, secure, scalable, and inclusive, ensuring that more people are brought into the financial ecosystem,” he said.
Industry players at the summit agreed that as AI continues to evolve, its role in financial services will expand beyond efficiency to shaping customer experience, risk management, and access to financial tools across Africa.
