FEATURE : OMNI CHANNEL
First City Monument Bank partnered with Infobip to implement a comprehensive conversational banking strategy . By leveraging Infobip ’ s omnichannel platform , First City Monument Bank integrated multiple communication channels through Infobip ’ s propriety solutions , namely Answers , Moments and Conversations .
Legacy IT and business pain points
First City Monument Bank faced the challenge of adapting to the rapidly evolving digital landscape in Africa . Despite significant digital adoption , nearly half of Africa ’ s population remains unbanked , and with 75 % of web traffic occurring on mobile phones , the Bank needed to provide mobile-first financial services to meet customer expectations and drive financial inclusion .
The key challenges included , simplifying transactions , and building customer trust , engaging with customers on their preferred communication channels , ensuring robust security and compliance and reducing operational costs while enhancing customer satisfaction .
Established in 1982 , First City Monument Bank is a full-service banking institution headquartered in Lagos , Nigeria , offering market-proven solutions that drive digital transformation in the banking sector . First City Monument Bank stands out as a significant player in Nigeria ’ s banking sector , combining a robust retail banking model with traditional corporate banking services while actively participating in initiatives that foster economic growth .
First City Monument Bank serves over 8 million customers and has approximately 278 branches across Nigeria , along with a presence in the UK through First City Monument Bank UK Limited . With a strong presence across Nigeria , First City Monument Bank is dedicated to enhancing financial inclusion and improving customer experiences through digital transformation .
The Bank offers a diverse range of financial services , including retail banking , corporate banking , and investment banking . With a strong presence across Nigeria , First City Monument Bank is dedicated to enhancing financial inclusion and improving customer experiences through digital transformation .
First City Monument Bank has relied on traditional customer service channels that were fragmented and less efficient . Messaging was primarily conducted through basic SMS services with limited engagement capabilities . Customer service was also dependent on human agents for enquiries and transactions , leading to longer wait times and less personalised interactions .
Implementation and process improvement
First City Monument Bank partnered with Infobip to implement a comprehensive conversational banking strategy . By leveraging Infobip ’ s omnichannel platform , the Bank integrated multiple communication channels through Infobip ’ s propriety solutions , namely Answers , Moments and Conversations .
Answers serves as the Bank ’ s AI-powered chatbot , handling FAQs and automating routine interactions , allowing human agents to focus on more complex issues .
Moments allows the Bank to send personalised messages and targeted offers to customers , improving engagement by tailoring communications based on customer behaviour and preferences .
Modernising conversational banking experience
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