In the early 1990s, Nigeria’s new generation banks were born. They used computers and networked systems to create a new basis of competition, knocking the incumbents out of the way. Indeed, deposit money in the Onitsha branch, withdraw it in the Lagos branch, and in the process, deliver a customer perception, a higher order experience, well ahead of needs, and expectations. Read how I explained this in Havard Business Review in 2010 – https://hbr.org/2010/10/mastering-the-apple-game-of-cu
As the era of AI kicks off at scale, new species of banks will be born in Nigeria, and they will transform the industry. I am calling them “AI-banks” because their genes would be made of AI (artificial intelligence).
The AI-banks will operate lean but will deliver positive customer experience even as stakeholders see great returns. Do you have an idea on how banks of the future will look like? Yes, Nigerian banking 3.0. At Tekedia Capital, we will like to discuss. Connect here and let us discuss investments.
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