The Chief Executive Officer of Fidelity Bank, Mr. Nnamdi Okonkwo said that in line with a five year strategic plan, the bank will deploy artificial intelligence and robotic automation, as well as other innovations to enhance service delivery.
Okonkwo, who revealed the development at the bank’s 31st Annual General Meeting (AGM), said “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”.
The CEO said the economic activities are relatively slow in the first two quarters of the year, but will be expected to pick up by third quarter and then stabilise in fourth quarter of 2019. Taking that into consideration, he noted that 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.
He also 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”.
Okonkwo stated that 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.
Responding to questions from shareholders, Okonkwo said the bank would continue to partner with relevant agencies so that shareholders get positive returns on investments and customer satisfaction.
The Chairman of Fidelity Bank, Mr. Ernest Ebi, reiterated the company’s target of achieving a tier 1 status in the next five years. He said 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”.