AI Is Changing Finance… But FCMB Says There’s a Catch

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Key stakeholders from Nigeria’s financial services and technology sectors gathered at the recently concluded BusinessDay Fintech Summit 2026, held under the theme “The Next Financial Frontier: Intelligence, Infrastructure & Inclusion in Africa’s Digital Money Economy”.

The summit provided a platform to examine how innovation, data, and emerging technologies are transforming the continent’s financial ecosystem.

Bringing together fintech leaders, financial institutions, and ecosystem partners, discussions centred on strengthening digital infrastructure, unlocking opportunities through artificial intelligence, and expanding financial inclusion across Africa’s evolving digital economy.

Speaking during a panel session titled “Intelligent Finance: How AI, Data and Automation are Rewriting Financial Services,” Blessing Ehize, Chief Technology Officer of First City Monument Bank, emphasised the transformative impact of artificial intelligence in enhancing efficiency, personalisation, and smarter decision-making in banking.

“Artificial Intelligence is no longer a future concept; it is actively redefining how financial institutions operate.

From improving risk assessment and fraud detection to enabling hyper-personalised customer experience, AI allows us to anticipate customer needs and respond in real time.

The real value lies in how effectively we harness data to deliver smarter, faster, and more inclusive financial services.”

He also reaffirmed the bank’s commitment to responsible innovation:

“At FCMB, our approach to AI adoption is deliberate and responsible.

We are integrating AI in ways that enhance efficiency without compromising trust, customer privacy, or regulatory compliance.

This is why FCMB is ISO42001 certified. Technology must work for the customer, not against them, and must always align with ethical standards and human oversight.”

Speaking further, he highlighted FCMB’s alignment with global best practices:

“The intersection between what we do at FCMB, and global financial best practices lies in our ability to balance innovation with resilience.

Globally, AI is taking centre stage, whether you are a bank or not.

It is coming to enable businesses and change lifestyles.

We are building systems that are not only intelligent but also secure, scalable, and inclusive, ensuring that as we advance technologically, we bring more people into the financial ecosystem.”

As digital transformation accelerates across Africa, FCMB continues to invest in advanced technologies and data-driven insights to improve service delivery and broaden access to financial services in a responsible and ethical manner.

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