First Bank of Nigeria Limited (FirstBank) has adapted its banking strategy by integrating digital solutions while still maintaining a vast network of physical branches. The Digital Xperience Centres (DXCs) allow customers to carry out a range of transactions through self-service kiosks, including account opening, card issuance, and other routine services. By offering round-the clock access, the centres enable customers to interact with the bank beyond regular business hours. The initiative forms part of a broader strategy to integrate digital solutions while maintaining the reach of the bank’s nationwide branch network. Through its digital channels, FirstBank serves three core customer segments—affluent clients, small and medium-sized enterprises (SMEs) and the mass market—while incorporating artificial intelligence (AI) to improve customer experience and personalise services. This does not leave out the Diaspora & Expatriate segment, each supported by bespoke propositions and differentiated journeys. Digital adoption has accelerated in recent years. Over 80% of the bank’s customers now use digital products such as online banking, mobile banking and cards, reflecting a significant shift from branch-based transactions. AI supports operational efficiency and customer engagement Artificial intelligence and automation play a growing role in FirstBank’s digital transformation efforts. The bank has deployed AI-powered tools across several areas including reconciliation processes and customer engagement. One example is Fibani, a virtual assistant designed to support customer interactions and improve service delivery. “By integrating AI technologies, we are able to anticipate customer needs, offer personalised financial products and enhance customer satisfaction. Our goal is to create an intelligent banking environment that evolves with our customer base,” said Oluseyi Oyefeso, executive director, retail banking (South Directorate) at FirstBank. Fintech competition and digital literacy remain challenges Despite the significant strides in digital adoption, FirstBank faces challenges as it expands its digital services. Limited digital literacy in some rural communities continues to affect the uptake of online banking services, particularly in areas where internet access may be limited. The bank also faces competition from fintechs that offer innovative payment solutions and digital lending platforms that appeal to younger, tech-savvy users. Oyefeso explained: “We are experiencing strong competition from fintechs, especially in digital lending and payment solutions. However, we are accelerating the integration of advanced digital solutions into our traditional banking platforms, combining innovation, scale and robust security to deliver superior customer value.” FirstBank is expanding its Digital Xperience Centres to give customers round-the-clock access to self service banking, blending digital innovation with its wide branch network. With over 80% of customers now using digital channels, the Bank is leveraging AI to improve efficiency and personalise services across multiple customer segments. Despite challenges such as fintech competition and limited digital literacy in some areas, FirstBank is investing in technology and security to stay competitive and customer focused.
