2025 ACAMB Conference: Since Trust Is The New Currency, Invest In Ethical Banking, NESG Chair Counsels Bankers
The Managing Partner of Verraki Africa and Chairman of the Nigerian Economic Summit Group (NESG), Niyi Yusuf, has urged financial institutions to integrate trust and integrity into their Artificial Intelligence (AI) adoption strategies in the banking industry, thereby retaining customers and public confidence.
He made this call at the 2025 Association of Corporate Affairs Managers of Banks (ACAMB) Stakeholders Conference while delivering his keynote speech on the topic, “AI and the Future of Trust: Reimagining Banking and Financial Services in a Digital-first Era,” held recently at the Bankers House, VI, Lagos.
He said, “The future of AI in banking is not just about automation or efficiency, it’s about trust, earning and maintaining customer confidence in a digital-first world.
Yusuf explained how AI had revolutionised banking operations for greater efficiency while at the same time introducing new challenges and risks, potentially waning public trust regarding its safety.
He, however, noted that AI should be used alongside humans in the loop to perfect banking operations as well as drive credible innovations to safeguard customers’ funds and retain their confidence toward the continued use of technology.
Yusuf also called for tailored financial services AI algorithms for Africa, instead of relying on methods developed for advanced economies as well as explained the use of AI for financial inclusion, fraud prevention, workforce transformation, and efficiency.
The chairman of NESG who said the banking industry was the first sector to embrace and adopt AI, using it to drive efficiency, comfort, and speed also explained the challenges, risks of AI and the solutions architecture needed to retain customers’ trust to embrace technology continuously.
In his welcome address, ACAMB President, Rasheed Bolarinwa, said the 2025 theme: “AI and the Future of Trust: Reimagining Banking and Financial Services in a Digital-first Era,” was timely and important.
Bolarinwa explained the current realities of technological transformations driven by AI and digital technologies were redefining customers’ expectations in banking and financial services.
His words, as we gather here today, stand at the threshold of a transformative era driven by artificial intelligence, digital technologies, and the redefinition of cultural expectations in banking and financial services. Our mission at ACAMB has always been to foster excellence in corporate communications and stakeholder engagement across the banking industry.
“This conference embodies that purpose by convening thought leaders, innovators, regulators, and practitioners to shape the future of our industry responsibly and sustainably.”
He urged stakeholders at the event to challenge assumptions and collaborate toward building a financial ecosystem where trust is not just maintained but enhanced by technology.
On his part, the President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Pius Olarenwaju, represented by Akin Morakinyo, the Registrar and CEO of CIBN, explained how technology drove revolutions that introduced speed and efficiency into banking operations.
Olarenwaju, however, said if trust and integrity were taken out of banking, it would be left with nothing, hence the need to prioritise these virtues to gain public confidence toward embracing AI.
The president urged the public to embrace the changes of AI so as not to be left behind and also to enjoy banking service efficiency.
His words, “The beauty of AI, which I found out, is that AI is the general-purpose technology that will drive the full industrial revolution. Therefore, if you do not adopt it, you are doing so at your peril.”
He commended the gatekeeping role of ACAMB members, which educates the public and protects the image of banks.
The conference which was a gathering of top leaders, innovators, and practitioners in the banking sector featured a thought-provoking panel session which focused on the need for banks to enhance transparency, and accountability, ensure customer data privacy, mitigate risks, as well as continue education of the public on the benefits and challenges of AI.
The panelists include distinguished leaders in the financial sector such as Dr. Harrison Nnaji, Chief Information Security Officer, First Bank of Nigeria Limited; Dele Adeyinka, Chief Digital Officer, Polaris Bank and Yonodu Okeugo, General Manager, Business Banking and Partnerships, VFD Microfinance Bank.
