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First Bank Reaffirms Commitment to Leverage Fintech

By Modupe Gbadeyanka

Managing Director of First Bank of Nigeria Limited, Mr Adesola Adeduntan, has reiterated the commitment of the financial institution to leverage Financial Technology (Fintech) to deliver innovative services.

Mr Adeduntan made this known at the Fintech summit hosted by the tier-1 lender on Wednesday in Lagos.

The bank chief, who was represented at the event by the Deputy Managing Director of the bank, Mr Gbenga Shobo, stressed that, “To remain competitive, banks must make the most of this disruptive change.”

He said, “At the moment, some actors are using this new technology so enthusiastically that it’s hard to keep up whilst others are still channelling too much investment in old systems.”

Business Post reports that the event tagged FirstBank Fintech Summit 2.0, was the second edition, which the bank commenced two years ago.

The First Bank MD explained 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 First Bank Digital Lab with the aim of finding new ways to apply artificial intelligence to banking operations and practices.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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