First City Monument Bank (FCMB) has received the Responsible AI and Intelligent Finance Award at the CIO & C-Suite Conference and Awards Africa, earning recognition for its approach to adopting and governing artificial intelligence in financial services.
The award was presented at the conference in Lagos, where technology executives, fintech professionals and financial services leaders gathered to discuss the growing influence of artificial intelligence, digital innovation and emerging technologies on business operations.
FCMB’s recognition highlights the increasing importance of responsible artificial intelligence adoption in Nigeria’s banking industry, as financial institutions explore ways to use technology to improve service delivery, strengthen operational efficiency and enhance customer experiences.
Artificial intelligence is becoming an increasingly important part of the financial services sector. Banks and other financial institutions are exploring its potential in areas such as fraud detection, risk assessment, customer service and the delivery of more personalised financial services.
However, the growing adoption of AI also raises concerns about customer privacy, data protection, transparency and accountability. These issues have made responsible technology governance an important consideration for financial institutions seeking to benefit from artificial intelligence without exposing customers and other stakeholders to unnecessary risks.
FCMB’s award recognises its emphasis on balancing technological innovation with customer protection, regulatory compliance and ethical standards. The bank’s approach is supported by its ISO 42001:2023 certification, an international standard that provides a framework for managing artificial intelligence systems responsibly.
The certification establishes guidelines for organisations to identify, assess and manage risks associated with the development and deployment of artificial intelligence. It also provides a framework for strengthening accountability, transparency and governance in the use of AI technologies.
FCMB’s Chief Technology Officer, Blessing Ehize, said the bank was committed to adopting artificial intelligence in ways that improve customer experience without compromising privacy, trust and regulatory obligations.
“Technology must work for the customer, not against them, and must always align with ethical standards and human oversight,” Ehize said.
His remarks reflect the growing debate within the financial industry about how banks can integrate artificial intelligence into their operations while maintaining customer confidence and meeting regulatory expectations.
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The recognition also comes as Nigerian financial institutions increasingly examine the opportunities presented by artificial intelligence, automation and data-driven services. Discussions at industry events, including the 2026 BusinessDay Fintech Summit, have highlighted how these technologies could influence financial service delivery, improve operational efficiency and support wider financial inclusion across Africa.
At the summit, FCMB also outlined its position on responsible AI adoption, stressing the importance of using emerging technologies without compromising customer trust, privacy and regulatory compliance.
The bank said it would continue exploring opportunities to deploy artificial intelligence to improve service delivery, support informed decision-making and develop secure, scalable and inclusive financial solutions.
As artificial intelligence continues to reshape the financial services industry, Nigerian banks will need to adopt emerging technologies in ways that deliver meaningful benefits while protecting customers and maintaining public confidence.
FCMB’s Responsible AI and Intelligent Finance Award therefore recognises its approach to AI governance at a time when responsible innovation is becoming increasingly important to the future of banking in Nigeria.
