First Bank of Nigeria has reassured that it will continue to grow the financial services industry by deepening its existing partnership with financial technology (Fintechs) companies in the country.
The company stated this at the 2018 First Bank of Nigeria, 3-day Fintech Summit with the theme: ‘The future of banking-the role of AI and bid data.
The Managing Director, FBN, Dr. Adeshola Adeduntan, noted that the FirstBank Fintech Summit commenced with a two-day hackathon on Artificial Intelligence (AI) and big data at the FirstBank Digital Lab.
He stated that the aim of the event was to come up with new ways to apply artificial intelligence to banking operations and practices.
Adeduntan who was represented at the event by the Deputy Managing Director, FBN, Gbenga Shobo, added that to remain competitive, banks must make the most of the disruptive change.
The FBN MD explained that presently, some actors use the new technology so enthusiastically that it’s hard to keep up, whilst others are still channeling too much investment in old systems.
“But technologies like artificial intelligence and big data technology need to become part and parcel of our business models across the board,” noted Adeduntan.
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