Business
Stanbic IBTC Bank makes history, deploys robots
Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, has taken another bold step towards service efficiency and enhanced customer experience with the deployment of robots to drive various dimensions of its operations.
Deployed about three months ago, the Stanbic IBTC BlueBots, as the robots are called, manage middle and back office activities. At the operational center at Ilupeju, Lagos, the robots facilitate Account Origination and Servicing for Anti-Money Laundering (AML) transactions and Processing and Clearing for inward cheque confirmation. At the Idejo, Lagos office, the Credit Risk Management System robots handle Personal Banking Credit assessments while at the bank’s headquarters in Lagos, the robots are deployed in Global Market Operations (GMO) to manage T-Bills processing.
The development heightens the growing application of artificial intelligence by the bank with the earlier deployment of the Stanbic IBTC Bank Chatbot, christened Sami, an artificial intelligence-powered conversational and transactional channel for rendering banking services to customers.
Speaking in Lagos, Chief Executive, Stanbic IBTC Bank, Dr Demola Sogunle, said given the rapid manner technology is evolving and the disruption this can trigger, it is imperative to tap into such evolving trends and technology to address the changing needs of customers.
“The Stanbic IBTC robot deployment speaks to our determination to consistently apply innovation and technology to provide bespoke financial solutions to our clients. The special features of the Stanbic IBTC BlueBots ensure that our customers are availed seamless banking solutions consistently and conveniently,” Sogunle said.
He added that the robots were designed and deployed to reduce manual intervention, eliminate errors and reduce cost of processing in reconciliation processes, with reconciliation turnaround time reduced significantly and it was delivered at zero cost which is a first in the Nigerian Banking industry.
“We wanted something new. We wanted to increase speed. We wanted to boost efficiency and accuracy. Constantly raising the bar is a key value for us at Stanbic IBTC and leading the implementation of all the possible applications of Artificial Intelligence (AI) in Nigeria was a good way to raise the bar” Sogunle added.
Elaborating further, Manager, Business Transformation Programmes, Stanbic IBTC Bank, Wole Adesiyan, attributed the deployments to the ingenuity and creativity of Stanbic IBTC personnel as the feat was a strictly in-house project with support from Standard Bank South Africa, parent company of the Stanbic IBTC Group.
He described Stanbic IBTC as the Bank of the Future that will deploy every relevant technology to stay ahead of the curve. “We believe in preparing for the future without ignoring our environment and the culture of our people. Here in Nigeria, the average individual still desires human interaction when dealing with anything as sensitive as money. Maintaining a hybrid bank structure will keep us ahead of the curve. Through learning and development, we are prepared for a future that includes Artificial Intelligence and Robotics Process Automation. If a machine can do your job, prepare for a better one,” he said.
Adesiyan said the robots are equipped with sophisticated security features to ensure round-the-clock performance without breaches. “We pride ourselves on the high level security that is provided by our in-house teams to the applications and solutions developed and deployed.”
As a member of the Standard Bank Group, Africa’s largest bank by assets and earnings, Adesiyan said Stanbic IBTC will continue to leverage on the 155-year experience, expertise and strong financial clout of the mother brand to deliver superior sustainable shareholder value by meeting the needs of its clientele.
Only last week, Stanbic IBTC Bank was adjudged the Best Digital Bank in Nigeria in the Agusto & Co 2018 Consumer Digital Banking Satisfaction Index report, which Adesiyan said is a standard that has been set and made it imperative to constantly raise the bar in providing customer satisfaction, digitally or otherwise.
He added that a similar quest prompted Stanbic IBTC Bank to launch, in November 2015, a personal teller machine (PTM), which offers customers the benefits of both self-service video banking and branch teller experience combined in one solution.The PTM combines video banking and remote transaction processing banking technology embedded within the machine to give customers the choice of self-service or connecting with a remote teller in a highly personalized, two-way audio/video interaction.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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