First City Monument Bank (FCMB) has won the Responsible AI and Intelligent Finance Award at the CIO & C-Suite Conference and Awards Africa held in Lagos.
The award recognises the bank’s adoption and governance of artificial intelligence (AI) in financial services, particularly its efforts to ensure responsible use of emerging technologies.
The conference brought together technology, fintech and financial services leaders to discuss issues including data localisation, innovation and the growing role of artificial intelligence in business.
FCMB’s Chief Technology Officer, Blessing Ehize, said the bank’s approach to AI adoption was guided by customer trust, data privacy, ethical standards and regulatory compliance.
“Technology must work for the customer, not against them, and must always align with ethical standards and human oversight,” Ehize said.
The bank’s AI governance framework is supported by its ISO 42001:2023 certification, an international standard for Artificial Intelligence Management Systems, which provides guidelines for managing AI-related risks and ensuring accountability.
Financial institutions are increasingly deploying AI to improve operational efficiency, strengthen risk management, detect fraud and deliver personalised customer services.
FCMB said it would continue to leverage technology to improve service delivery, support decision-making and develop secure and inclusive financial solutions.
