First City Monument Bank (FCMB) has obtained the Responsible AI & Intelligent Finance Award on the CIO & C-Suite Conference and Awards Africa in recognition of its responsible strategy to adopting and governing synthetic intelligence in monetary companies.
The award was offered on the convention in Lagos, which attracted leaders from the expertise, fintech and monetary companies sectors to deliberate on information localisation, innovation and the increasing function of synthetic intelligence in enterprise operations.
The recognition comes amid rising adoption of AI by monetary establishments in search of to enhance operational effectivity, strengthen threat administration, detect fraud and supply extra personalised buyer experiences, whereas addressing vital considerations round governance, information privateness and accountability.
FCMB’s strategy to responsible AI adoption is supported by its ISO 42001:2023 certification, the worldwide customary for Artificial Intelligence Management Systems. The certification offers a framework for establishing and sustaining governance processes for responsible AI administration, together with the identification, evaluation and administration of related dangers.
The Bank’s Chief Technology Officer, Blessing Ehize, stated its adoption of synthetic intelligence was guided by a deliberate and responsible technique that locations buyer belief, privateness and regulatory compliance on the centre of its operations.
“Technology must work for the customer, not against them, and must always align with ethical standards and human oversight,” Ehize stated.
As the adoption of synthetic intelligence continues to develop throughout the monetary companies business, FCMB stated it stays centered on deploying expertise to reinforce service supply, promote knowledgeable decision-making and develop safe, scalable and inclusive monetary options.
The award additional underscores the Bank’s dedication to responsible innovation by balancing the alternatives supplied by rising applied sciences with the governance frameworks and safeguards vital to guard clients and different stakeholders.
It additionally highlights the rising significance of responsible AI administration within the monetary sector, the place establishments should make sure that technological development is supported by applicable requirements, accountability and human oversight.
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