Banking
Banking on the Future of Work
By Millie Clarke
The disruption of technology is revolutionising industries across many levels. As businesses evolve during the unprecedented revolution in the workplace, appropriate operating models must be put in place to meet the continuous demands of clients and the world around us. The future workforce must be equipped with the necessary tools to allow them to easily adapt to the ever-changing world that will require digital skills, organisational adaptability and a different kind of leadership at all levels.
The banking industry specifically, has faced significant disruption from changes in client expectations, geopolitical landscape shifts and development of artificial intelligence (AI). There is often anxiety linked to disruption, as it cannot always be predicted and organisations need to be ready to take advantage of new developments now for the future.
To remain competitive, organisations will need to retool their structures and their approaches to work to make use of the new technologies with full effect. Redesigned business structures and processes with a new focus on talent must be looked at as a priority.
Research suggests that through 2030, the time spent using advanced technological skills will increase by 50 percent in the United States and by 41 percent in Europe, with the fastest rise in the need for advanced IT and programming skills1.
Additionally, automation will accelerate the shift in career skills with an increasing demand for technological abilities, while other skills such as, basic cognitive and manual skills will be less in demand. Data scientists, agile developers, engineers and scrum maters will become important in the new world of work. Those who can work across functions and businesses will be more valuable.
At Standard Chartered, we believe to have a competitive advantage with a future fit workforce we need to embrace digitisation and incorporate advanced technologies into the workstream. We have taken proactive steps to help drive the growth of the business by embracing these changes early on and promote innovation across all parts of the Bank, in our drive to make banking simpler, faster and more convenient for our customers and to stay relevant in our markets. We are experimenting with disruptive business models that create optionality for the Bank, including investing in fintech’s and start-ups outside the Bank, and establishing new partnerships and solutions that have the potential to change how we approach and think about banking.
Most banks are looking at replacing their legacy systems to ensure the new technology will improve their operating effectiveness and improve the customer experience. We see a lot of improvements around account opening, mortgage payments, new hire processing – even IPOs are being done by algorithm! Automation will have an impact on the way we deliver and consequently our workforce and talent strategies.
Looking at what lays ahead, I foresee three challenges facing the role of Human Resources (HR) in developing a talent strategy for the future of work. The critical questions we need to ask ourselves are:
How do we identify the skills needed to compete in the new world?
How do we prepare for the technology disruption and re-train our existing staff to be ready?
How do we attract digital talent, knowing that we have to compete with other industries for this same talent pool?
We have invested heavily in our ‘People Strategy’ to ensure that we harness our unique individual strengths which build the organisation. Newly developed HR technologies and tools are used within Standard Chartered to create a consumer grade experience with HR through mobile friendly and online portals. The training of more than 1,200 senior executives took place, towards positively transforming the culture of the Bank, focusing on supporting our employees and enabling them to become more comfortable with innovation and the development of new ideas, even if these ideas were not successful. We are retraining our staff on agile to ensure we remain competitive in the new world of work. Through our on-line learning platform staff can choose a varied number of programmes and develop themselves at their own leisure.
The scale, scope and complexity of technology and its transformative powers is something organisations are still yet to fully comprehend, especially when it comes to the future of work and what the modern workplace will look like. However, it is important for banks to evolve as rapidly as technology – at least, they must try to. It is important for an organisation to be agile and continue developing to hold a competitive advantage and remain self-sustaining.
McKinsey Global Institute https://www.mckinsey.com/featured-insights/future-of-work/skill-shift-automation-and-the-future-of-the-workforce
By Modupe Gbadeyanka
In recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises (SMEs), Union Bank of Nigeria Plc has been honoured by the Association of Small Business Owners of Nigeria (ASBON).
The lender was rewarded by the group for its suite of solutions designed to enable business expansion and long-term value creation.
At the Nigeria National SME Business Awards, held recently in Lagos, Union Bank was given the Best SME Growth Banking Initiatives Award for 2025.
The ceremony was organised by ASBON in partnership with the Lagos State government through the Ministry of Commerce, Cooperatives, Trade and Investment.
The event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.
Receiving the award on behalf of the bank, its Head of SME Segment, Mr Ayokunnumi Abraham, described the recognition as a strong endorsement of the organisation’s commitment to supporting small and medium-sized businesses.
“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible.
“Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting.
“These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive,” he stated.
By Modupe Gbadeyanka
The stellar contributions of Polaris Bank Limited to youth employment, talent development, and workforce empowerment across Nigeria have not gone unnoticed, as the company was recently recognised at an event in Lagos.
At the 2026 Jobberman Partners’ Convening, the financial institution was bestowed with the Private Sector Champion Award.
The award recognises private sector organisations that have demonstrated exceptional commitment and leadership in advancing youth employability through impactful recruitment initiatives, graduate trainee programmes, executive hiring support, candidate assessment programmes, and strategic partnerships that create sustainable career opportunities for young Nigerians.
Themed From Impact to Action: Collectively Designing the Future of Youth Employment in Nigeria, the convening focused on fostering collaboration between the private sector and other stakeholders to expand access to meaningful employment opportunities and equip young Nigerians with the skills and opportunities required to succeed in an evolving economy.
On the recognition, Jobberman commended Polaris Bank for consistently going beyond transactional partnerships to deliver measurable impact within Nigeria’s employment ecosystem. The renowned recruitment firm described Polaris Bank as a credible and purpose-driven institution committed to advancing youth employability and supporting the future of work in Nigeria.
The Head of Talent Management at Polaris Bank, Ms Cynthia Sanyaolu, reaffirmed the lender’s commitment to empowering young Nigerians and strengthening the nation’s workforce through strategic people-focused initiatives designed to create long-term economic and social impact.
“This recognition reflects Polaris Bank’s unwavering belief in the potential of the Nigerian youths and our commitment to building platforms that enable them to thrive professionally and economically.
“At Polaris Bank, we see talent development and youth empowerment as critical drivers of national growth and sustainable development,” she stated.
Over the years, Polaris Bank has continued to invest in initiatives that promote learning, career growth, workforce inclusion, and economic empowerment.
Through strategic Graduate Trainee recruitment programmes via its flagship Polaris Graduate Intensive Training (PGIT) and Polaris Tech Ignite Training (TechIGNITE), among other talent development initiatives, and collaborative partnerships, the bank remains committed to supporting the next generation of Nigerian professionals while contributing to national development.
By Aduragbemi Omiyale
Plans are underway by Ecobank Transnational Incorporated (ETI) to approach the international debt market for a capital raise.
The parent company of the Ecobank Group intends to use proceeds from the proposed exercise to refinance “the concurrent any-and-all tender offer of the ETI $350 million 8.750 per cent tier 2 notes due June 2031.”
However, the issuance of the notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation, a statement signed by the organisation’s chief financial officer, Mr Ayo Adepoju, stressed.
After issuance, the debt instrument may be listed on the London Stock Exchange, with the expectation that the bonds will be traded on its regulated market.
Ecobank noted that it would allocate an amount equivalent to the full net proceeds of the issue of the notes to finance or refinance, in part or in full, new and/or existing eligible assets as described in its Green Bond Framework (Ecobank-Sustainability), as amended and supplemented from time to time.
Ecobank, which has banking operations in 34 countries in Africa, is listed on the Nigerian Exchange (NGX) Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (Stock Exchanges).
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