E-Financial
Meet Top Five Tech-Driven Banks and Their Overseers
With the rapid rate of technological change and shifting customer demands, financial institutions in Nigeria have been looking to keep up with innovation and modernise their technology.
Nigeira CommunicatiosWeek in this report evaluates top five money deposit banks that have successfully integrated technology to enhance customer experience.
This is based on 2025 and early 2026 industry reports, ranks in no particular order.
Despite variations in size and market, these bank share a foundational set of core characteristics and technologies designed to ensure stability, security, and real-time functionality.
First Bank
First Bank of Nigeria leverages technology to drive digital transformation through its FirstMobile app, *894# USSD banking, and automated Digital Xperience Centres (DXC) featuring humanoid robots, AI, and self-service kiosks.
With over 80 percent of transactions handled digitally, the bank focuses on AI-driven customer support, secure card issuance in under three minutes, and cloud-based ERP.
The bank has heavily invested in Information and Communication Technology (ICT) to transition from a traditional institution into a leading digital bank, adopting the mantra “a tech company offering banking services”.
According to a FirstBank leadership report, Callistus Obetta, group executive, technology, Digital Innovation & Services, is overseeing the bank’s IT operations.
He joined First Bank in 2016 from Standard Chartered Bank.
In his role at First Bank, he has overall responsibility for strategy formulation and leading the team charged with transforming and operating the technology platforms and banking services that power the bank and its subsidiaries.
Zenith Bank
Another heavy investor in technology is Zenith Bank and driving its digital banking, focusing on AI, cybersecurity, and fintech innovation through its annual Tech Fair and Zecathon, with a recent major IT infrastructure upgrade improving service delivery.
Key digital solutions include the *966# E-banking service, a mobile app, and the XPath digital platform.
The bank has recently completed a significant IT infrastructure migration to a new, more robust operating system to enhance service quality.
Zenith Bank offers XPath for digitizing payment collection across branches.
The bank is currently overhauling its core banking systems, implementing software from providers like Misys to modernize frontend and backend operations across its African and UK branches.
Akin Ogunranti leads the Bank’s technology group, digital transformation, and strategic technology initiatives.
Ogunranti is a seasoned banker with over 30 years of experience, joining Zenith Bank in 2004.
He previously managed the Bank’s relationships with Multilateral Institutions and Export Credit Agencies, and served as Group Head for Power & Infrastructure, Oil & Gas, and Structured Trade & Project Finance.
He currently oversees Corporate Banking, Oil & Gas, and the Bank’s Business portfolios across Lagos (Public Sector, Apapa, Isolo and Ilupeju), South-West, and South-South regions.m
Fidelity Bank
Fidelity Bank leverages digital technology to enhance banking convenience, offering solutions like Cardless ATM withdrawals, the *770# instant banking code, and the Ivy AI chatbot.
Their technology stack includes secured online banking, NQR scan-to-pay, and advanced digital tools for SME management and corporate credit lending.
Fidelity Online Banking and a Mobile App are top notches as they support NQR scan-to-pay.
The *770# Instant Banking service works on all phones without data.
The bank also offers Virtus for real-time transaction monitoring and Corporate Online Banking (CONB) for bulk payments.
Fidelity utilizes SSL encryption, token technology, and adheres to ISO 27001 and PCIDSS security standards.
With mobile technology and AI-driven solutions, Fidelity Bank provides cost-effective financial access to both banked and unbanked customers.
Stanley Chiedoziem Amuchie, Executive Director, Chief Operations and Information Officer is leading the Bank’s IT operations.
Amuchie holds a record of impressive multi- functional work experience spanning banking, audit, risk management, corporate governance, quality control, operations and information technology, strategy, financial control, business and financial advisory, accounting, general management, business development and consulting, with over 23 years of experience in the banking and financial services industry.
He joined Zenith Bank Plc and enjoyed a distinguished career spanning over 18 years which culminated in his appointment as Group Chief Financial Officer in July 2015 and Group Zonal Head in June 2018, a position he held until his exit in October 2018.
While at Zenith Bank, Stanley also served as a Non-Executive Director on the Boards of Zenith Trustees Limited, Zenith Bureau De Change Limited, Zenith Nominees Limited and was Chairman of the Board of Directors of Zenith Securities Limited.
Between April 2019 and February 2021, Stanley was Chief Technical Consultant at Mint Financial Technologies Limited (now Mintyn Bank, a digital bank).
United Bank for Africa
United Bank for Africa (UBA) also leverages technology to drive digital banking across 20 African countries and globally, serving over 45 million customers.
Key technology banking services include the UBA Mobile App, Leo AI Chatbot, and *919# USSD banking, enabling account opening, transfers, bill payments, and loans.
UBA focuses on Fintech partnerships to enhance AI-powered customer engagement and digital payments.
UBA prioritizes collaborations with fintech companies to accelerate financial inclusion and enhance digital payment infrastructure.
Emmanuel Lamptey is the key executive overseeing technology and digital transformation at UBA.
Lamptey, who serves as the Executive Director, Digital Banking, has 25 years of experience in retail banking, corporate banking, asset management, brokerage, insurance, and microfinance.
His background allows him to combine financial expertise with a digital vision.
TAJBank
TAJBank is a leading Nigerian non-interest (Islamic) bank leveraging technology for digital banking, featuring the TAJWAY app for secure, 24/7 transactions.
The bank uses the SBS Core Amplitude Up banking platform for seamless digital services, including account opening, instant transfers, bills payment, and agency banking.
It offers secure, user-friendly app offering card management, budget planning, and high-frequency transfers available on the App Store and Google Play.
Customers can open accounts through the app or website without visiting a branch.
Its offers USSD Banking and *898# code for mobile transactions can be donewithout internet connectivity.
TAJBank’s technological focus supports its goal of being a leading digital non-interest bank in Nigeria by providing seamless, ethical banking solutions.
Sherif Idi, Co-Founder/Executive Director, is actively involved in the bank’s operational trajectory and growth, often commenting on the bank’s investment in technology, human capital, and expansion strategies.
He oversee the bank’s growth-driven, tech-enabled, and innovative initiatives.
With 21 years career experience in the banking sector, Idi has worked in every unit of banking, from operations manager to marketing and customer service, risk management, branch manager and group head, carving a niche for himself.
Nigeria Police Force has arrested two suspects over a N713.9 million fraud linked to a breach involving a third-party banking platform.
The police in a statement signed by Anthony Okon Placid, Force Public Relations Officer Force Headquarters, Abuja said the case followed a complaint by a financial institution which reported unauthorised debits on customers’ accounts, leading to an investigation by the Police Special Fraud Unit (PSFU).
Acting on the complaint, operatives of the PSFU deployed advanced investigative and digital forensic techniques, revealing that fifteen customers’ accounts had been compromised.
The funds were subsequently channelled through a network of accounts in a coordinated laundering scheme.
The operation led to the arrest of two suspects, Oguntoyinbo Olawale and Kazeem Omokayode.
Further investigations established that the suspects conspired with one Linda, a Chinese national currently at large, to use personal identification details, including Bank Verification Number (BVN), National Identification Number (NIN), and other credentials, to open multiple bank accounts across various financial institutions. These accounts were then used to receive, conceal, and launder illicit proceeds.
The suspects in custody are to be arraigned before a court of competent jurisdiction, while efforts are ongoing to apprehend other members of the syndicate still at large.
Olatunji Disu, Inspector-General of Police (IGP), commended officers of the Police Special Fraud Unit for their efforts and reaffirmed the commitment of the Nigeria Police Force to combating financial and cyber-enabled crimes.
Tulupay, a fintech infrastructure firm, has announced the prelaunch of its pan-African Financial Operating System (FOS) aimed at improving interoperability across the continent’s fragmented financial ecosystem.
The company said the platform is designed to connect banks, mobile money operators, digital wallets and blockchain networks through a unified system, with the goal of easing cross-border payments, remittances and trade.
Founder, Felix Achibiri, said Africa’s financial landscape remains constrained by disconnected payment rails and high transaction costs, particularly for cross-border transfers. He noted that the new system seeks to provide a single infrastructure that links traditional financial services with emerging digital platforms.
“As cross-border transfers remain slow and expensive, and as more African central banks move toward CBDCs, the need for a unifying, interoperable operating system has never been more urgent,” he said.
According to the firm, the FOS will integrate multiple financial services, including payments, remittances, asset trading and investment, into one framework accessible to individuals, businesses and institutions.
Key components of the system include, Tulu Switch, a payments interoperability hub that enables transactions across different financial platforms through a single application interface, and Tulu Identity, a digital identity and compliance layer designed to streamline customer verification and regulatory processes.
It also plans to roll out Tulu Gateway, a trade platform aimed at supporting cross-border commerce through the digitisation of trade documents and automated settlement, as well as Tulu Wallet, which allows users to manage both fiat and digital currencies in one place.
The company added that the platform would support asset tokenisation and provide exchange infrastructure for trading digital and tokenised assets, alongside a blockchain network intended to serve as the backbone for transactions and settlement.
The announcement follows approval by the Securities and Exchange Commission (SEC) for Tulupay to participate in its fintech incubation programme, a step towards securing licences for digital asset custody, tokenisation and exchange services.
Achibiri said improving interoperability and reducing transaction costs would be critical to unlocking intra-African trade, particularly under the African Continental Free Trade Area (AfCFTA).
The firm said it is currently conducting pilot programmes with financial institutions, regulators and other partners ahead of a full rollout.
First City Monument Bank has opened applications for a new round of its SheVentures programme, offering zero-interest loans of up to ₦10 million to women entrepreneurs to improve access to working capital and support business growth.
FCMB
The bank said the initiative was designed to address financing challenges faced by women-led businesses, which continue to encounter high borrowing costs and limited access to affordable credit despite accounting for a significant portion of Nigeria’s small and medium-sized enterprises (SMEs).
Under the scheme, eligible applicants can access loans ranging from ₦500,000 to ₦5 million under the general category, while sector-specific businesses can obtain between ₦5 million and ₦10 million.
According to the bank, the funding is capped at up to 50 per cent of an applicant’s average monthly turnover.
The facility comes with a zero per cent interest rate, with all charges incorporated into a transparent pricing structure. Repayment is spread over four or six months to allow businesses align obligations with their cash flow cycles.
Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, said the intervention reflects the bank’s commitment to inclusive growth and economic empowerment.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers. This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs,” Edun said.
Also speaking, Group Head, SheVentures and Impact Segments at FCMB, Nnenna Jacob-Ogogo, said access to affordable finance remained a major challenge for women entrepreneurs.
“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions,” she said.
FCMB noted that beyond access to funding, SheVentures also provides broader business support services aimed at strengthening women-led enterprises, encouraging innovation and improving competitiveness.
The bank said applications for the zero-interest loans are now open to qualified women entrepreneurs across the country.
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