First Bank Reiterates Commitment to Leverage Fintech

Nigeria’s leading Tier 1 lender, First Bank of Nigeria Limited, has reiterated its commitment to leveraging Financial Technology (Fintech) to deliver innovative services.

The bank’s Managing Director/Chief Executive Officer, Dr. Adesola Adeduntan, stated this in his address to the Fintech summit hosted by the lender in Lagos yesterday.

The event tagged, “FirstBank Fintech Summit 2.0,” was the second edition of the summit which the bank commenced two years ago.

Dr Adeduntan, who was represented at the event by the Deputy Managing Director of the bank, Mr. Gbenga Shobo, stated that the summit was conceived to enable financial sector players provide financial products and services with greater speed, accountability and efficiency.

He stated that the event commenced last week with a two-day hackathon on Artificial Intelligence (AI) and Big data at the FirstBank Digital Lab with the aim of finding new ways to apply artificial intelligence to banking operations and practices.

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According to him, “to remain competitive, banks must make the most of this disruptive change. At the moment, some actors are using this new technology so enthusiastically that it’s hard to keep up whilst others are still channeling too much investment in old systems.

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