First City Monument Bank (FCMB) has stated that its adoption of artificial intelligence (AI) is guided by a deliberate and responsible approach, as stakeholders across Nigeria's financial services and technology sectors examined the impact of emerging technologies on the industry.
The position was outlined at the BusinessDay Fintech Summit 2026, themed 'The Next Financial Frontier: Intelligence, Infrastructure & Inclusion in Africa's Digital Money Economy'. Discussions centered on how innovation, data, and digital infrastructure are shaping Africa's financial ecosystem and expanding financial inclusion.
AI's Role in Banking
Speaking during a panel session titled 'Intelligent Finance: How AI, Data and Automation are Rewriting Financial Services,' Chief Technology Officer of FCMB, Blessing Ehize, highlighted the transformative role of artificial intelligence in driving efficiency, personalization, and smarter decision-making in banking.
Ehize stated: '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-personalized 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.'
Commitment to Responsible Innovation
He 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.'
Global Best Practices
Speaking further, he emphasized 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 cutting-edge technologies and data-driven insights to enhance service delivery and expand access to financial services ethically and responsibly.
