AI Innovation Transforms Banking Operations: A Conversation with Oyinlola ObafunshoOyinlola Obafunsho

The landscape of corporate banking is undergoing a dramatic shift as artificial intelligence reshapes traditional practices. At FirstBank’s Corporate Banking division, this transformation is evident through remarkable improvements in client retention and operational efficiency, driven by innovative AI implementation strategies pioneered by Service Executive Oyinlola Obafunsho.

“The banking sector faces unique challenges in digital transformation,” notes Obafunsho, whose strategic integration of AI has revolutionized the bank’s approach to managing major telecommunication accounts. Her team’s innovative development of an AI-driven application transformed how telecommunication companies manage their transactions and weekly targets. This groundbreaking solution eliminated the need for manual transaction instructions while maintaining precise tracking of financial flows.
“We identified a critical gap in how telecommunication companies handled their trading operations,” Obafunsho explains. Through comprehensive gap analysis and data-driven insights, her team developed an automated system that streamlined these processes. The results were remarkable – client retention increased while team productivity saw substantial improvement. This success stemmed from combining detailed data analysis with innovative application design, transforming how telecommunication companies interact with banking services.

Her innovative approach to customer relationship management has revolutionized how the bank handles major telecommunication accounts. “By utilizing AI-powered analytics, we were able to optimize our processes and anticipate client needs more effectively,” she notes. Through the implementation of advanced analytics and automated solutions, Obafunsho’s team consistently exceeded sales targets while improving service delivery.

The impact of these innovations extends beyond immediate operational improvements. “AI isn’t just about automation,” Obafunsho asserts. “It’s about transforming how we understand and serve our clients. When implemented correctly, AI enhances rather than replaces human capabilities.”The success of these implementations has positioned FirstBank at the forefront of banking technology innovation, earning recognition as “Best Bank in Digital Transformation 2022.