Stanbic Hosts AI Day to Transform Customer Experience
Stanbic Bank says there is a need to embrace Artificial Intelligence (AI) as the next frontier in transforming customer experience, in an effort to quickly solve problems and accelerate economic growth.
The Stanbic Artificial Intelligence (AI) Day
Stanbic’s transformation units, namely the Data and Analytics Office and the Digital Transformation Unit, hosted a Stanbic Bank-wide AI day under the theme: “The Age of AI: Unlocking Human Potential in the New Age of Abundance.”
This event was aimed at showcasing some of the data-related and innovation products coming from these two offices as part of Stanbic’s sensitisation efforts to raise awareness of AI and data-driven projects that the Bank has been working on thus far. The event hosted stakeholders from academia and industry.
The event was officially opened by Stanbic Chief Technology & Operations Officer, Mr. Wisdom Shanengeta, who set the tone for the day with an inspiring keynote on the potential of AI in transforming the financial services industry. Closing remarks were provided by Mrs Precious Sakala, Stanbic’s Head – People & Culture who emphasised the importance of upskilling with future-ready skills such as AI, data and innovation.
Stanbic also welcomed pupils from Northmead Primary School, its STEAM flagship partners, to the event. This aligns with the Bank’s commitment to nurturing young talent and showcasing the role of technology in shaping the future.
The day featured a panel discussion, moderated by Mr. Francis Mumbi (Head of Data and Analytics, Stanbic), where industry experts, Mr. Lukonga Lindunda (Executive Director, BongoHive), Mr. Lyndon Lane Poole (Partner, PWC), Mrs. Yaza Kara (Head of Digital Transformation, Stanbic), and Mr. Martin Simuchoba (Head of Learning, Stanbic), shared insights on leveraging A.I. for innovation, productivity and economic growth.
Speaking during the panel discussion, Stanbic Head of Digital Transformation, Mrs. Yaza Kara, said that the use of AI is now a necessity for banks and other financial service institutions to uplift the customer experience.
Educate and Enlighten
Stanbic also seeks to encourage participation and interest in data as a means to educate and enlighten various stakeholders on the pros and cons of AI and ML to understand its uses, enhance productivity, and contribute to economic growth.
As part of its commitment to educate and better equip its staff on AI, the Bank runs a Data Science Mastery and the Behavioural Economic Programmes.
Mrs. Kara said: “As Stanbic, we understand how AI has the potential to significantly transform banking by improving efficiency, enhance customer experience and expanding financial inclusion. We have developed AI driven innovations such as the “Stan” the Stanbic Bank chatbot designed to respond to our customers’ queries and enhance customer experience. We have also incorporated platforms such as Salesforce that use AI to provide quality service for our customers. The Bank is able to execute with excellence by having developed over 30 robotic agents which are solving for customer experience, compliance and regulation reporting automation, internal process automation and workflow digitisation.”
In his presentation, The Age of A.I.: Unlocking Human Potential in the New Age of Abundance – Opportunities and Considerations for Value Creation – Professor Christopher Cheembe from the National Institute of Public Administration (NIPA), said AI’s use in the financial services industry was a game changer.
Professor Cheembe said: “We can use AI to leverage customer data for tailor-made products and services and enhance security.”
This event underscored Stanbic Bank’s dedication to embracing cutting-edge technologies, fostering innovation, and paving the way for a brighter, data-driven future.
