Access Bank Plc has launched a new digital application designed to help Micro, Small and Medium Enterprises, MSMEs which the lender said will improve efficiency and expand their customer base.
The application was unveiled at the weekend during the bank’s maiden MSME Conference in Lagos, themed “AI for SMEs: Scaling Through Digital Tools,” which brought together technology experts and other stakeholders in the banking sector to brainstorm on the role of artificial intelligence in the highly competitive banking business.
Experts who attended the event include Glarry Gao, Country Manager, Financial Services Industry, Huawei Nigeria, who said AI will give small business owners an edge over their competitors, expand their businesses and provide them with better information about their customers.
Speaking during the event, the Senior Special Assistant to the President on Entrepreneurship Development, Chalya Shagaya, said AI is playing a crucial role in the rapidly changing business world, urging stakeholders to adopt the technology because of its capacity to change business operations.
“The world is changing rapidly, and technology is changing with it. Entrepreneurs must continue learning and adapting because AI is already reshaping the way businesses operate,” she said.
Shagaya stated that business managers can multi-task using AI in the areas of customer service, marketing, inventory management and accounting, saying by so doing the workload will be highly reduced.
Also speaking, Head of SME Banking, Access Bank, Abiodun Olubitan, said the commercial bank has taken it upon itself to provide entrepreneurs with both finance and requisite innovative and technological skills to grow their businesses.
According to her, “Our commitment is not only to provide access to finance but also to equip entrepreneurs with the knowledge, tools and digital capabilities they need to grow sustainable businesses,”
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