Stakeholders Chart Path To AI-Driven Financial Ecosystem In Africa

Stakeholders across Nigeria’s financial services and technology sectors at the weekend in Lagos convened at the Fintech Summit 2026, where discussions centred on the implications of innovation, data, and emerging technologies for Africa’s financial ecosystem.

The summit, themed “The Next Financial Frontier: Intelligence, Infrastructure & Inclusion in Africa’s Digital Money Economy,” brought together fintech companies, financial institutions, and ecosystem participants to evaluate pathways to strengthen digital infrastructure, deepen financial inclusion, and scale the adoption of artificial intelligence across the sector.

Participants underscored the accelerating role of digital transformation in broadening access to financial services across the continent, as institutions continue to increase investments in technology to enhance efficiency, resilience, and service delivery.

Speaking during a panel session on “Intelligent Finance: How AI, Data and Automation are Rewriting Financial Services,” the chief technology officer of First City Monument Bank (FCMB), Blessing Ehize, noted that artificial intelligence is increasingly embedded in core banking operations.

He said AI applications are being deployed to strengthen risk assessment frameworks, improve fraud detection systems, and enhance the customer experience, while enabling more data-driven decision-making across the organisation, adding that his bank is adopting AI in a manner that prioritises customer trust, privacy, and regulatory compliance.

Ehize also stressed the importance of balancing innovation with operational and systemic resilience.

According to him, financial institutions are actively working to build secure, scalable, and inclusive digital systems that support broader participation in Africa’s evolving financial landscape.