By Elizabeth Adegbesan

The Managing Director/Chief Executive Officer, Heritage Bank Limited, Ifiesimama Sekibo, has  said that the in-depth use of Artificial Intelligence (AI)  to carry out normal banking services is no threat to banks or humans.


He disclosed this at the grand finale of the maiden edition of the HB Innovation Lab/Business Accelerator programme in Lagos.

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Sekibo said: “Artificial Intelligence (AI) has been there all along and banks have utilized it all along, especially in utilizing data. We need to capture data to improve on our processes, services and how we serve our customers. So, it is not a new concept, it is just that we are beginning to get more information about our customers in enabling us to serve them well.

“AI has never been a threat to banks and that has been my position since the onset. I said we developed a programme called Octopus. We have a laboratory bank. It is not just for the word laboratory. We have a whole unit which is a laboratory and we have people working there and we are collaborating with various providers to utilize financial services on how to solve issues on normal operations. It is not something that is against the humans, it is for the human to use what it has to better its life.”


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