The Chief Executive Officer of First Bank of Nigeria Plc, Mr. Olusegun Alebiosu, has said the bank is undergoing tremendous innovations in its payment platforms and processes to improve customer satisfaction.
According to him, “First Bank is rolling out major innovations in its payment platforms and processes to improve customer satisfaction.”
He explained that the goal is to build a secure and efficient payment system, reduce fraud, and ensure strong cybersecurity across all digital platforms.
“Our goal is to strengthen cybersecurity, reduce fraud, and make transactions safer and more efficient for our customers,” Alebiosu said.
The CEO made these remarks on the sidelines of the 18th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference, which was held in Abuja.
Outlining how the bank intends to achieve this, Alebiosu stated, “We are committing significant investments to digital fraud management and control to ensure better customer protection.”
He further noted that First Bank had already made huge investments toward protecting its platforms from cybercriminals, which has positioned it as one of the institutions with the best cybersecurity networks in the country.
Highlighting the bank’s scale in the national payment landscape, he said, “First Bank accounts for 20 percent of payment systems in Nigeria, on the Nigeria Inter-Bank Settlement System Plc (NIBSS).
If a bank accounts for 20 percent, what does that mean? It tells you something about our innovation and our capacity.
We strive to build that platform, apart from being safe and secure, to be efficient in the payment system.
We have a very big platform, but despite the size, we suffer from one of the lowest rates of fraud that you see.”
Regarding customer complaints, Alebiosu emphasized that manpower has been expanded to handle them efficiently.
“We have employed enough staff to resolve customer transaction issues quickly and effectively,” he said.