Fidelity Bank is to introduce artificial intelligence and robotic process automation to drive growth and enhance service delivery

NNAMDI Okonkwo, managing director, Fidelity Bank Plc, has disclosed that the bank would deploy artificial intelligence and robotic automation as well as other innovations to enhance service delivery in line with its five-year strategic plan.

He said at the bank’s 31st annual general meeting, AGM, held in Lagos, recently that, “The introduction of the artificial intelligence and robotic process automation like Chatbots in our internal processes and service delivery channels will be used to drive growth in all sectors we are currently servicing.”

Okonkwo said with the economic activities relatively slow in the first two quarters of the year, although expected to pick by third quarter and then stabilise in fourth quarter 2019, Fidelity Bank would focus on redesigning its systems and processes to enhance service delivery and cost optimisation. This is expected to reduce operating expenses and cost-to serve.

On the dynamics in the industry, he said the bank will continue to increase the adoption and migration of customers to digital platforms and increase retail banking market share through innovative products and services. He said the board and management were pleased with the full year 2018 results and remained focus in ensuring that they meet the medium term strategic objectives.

Earlier, while responding to questions from shareholders, Okonkwo said the bank would continue to partner with relevant agencies to get positive returns on investments and customer satisfaction.

On his part, Ernest Ebi, chairman, Fidelity Bank, reiterated the company’s target of achieving a tier 1 status in the next five years, saying the 2018 results were achieved through diligent and meticulous execution of, “our medium term strategy, hence the declaration of 11 kobo per ordinary share for our esteemed shareholders.

“We did not expect a smooth ride, especially with the slow pace of recovery in the macro environment. We delivered the highest profit before tax in our history despite the headwinds in the domestic economy and grew profit before tax by 31.57 percent, from N19 billion in 2017 to N25 billion in 2018.”

– May 3, 2019 @ 13:59 GMT |