The Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) has proposed that banks and other financial institutions incorporate AI and advanced analytics into their systems of operation at its Annual Stakeholders Conference.
The conference, themed “Beyond Compliance: AI, Risk, and the Future of Financial Integrity,” in Lagos, gathered leading compliance officers, regulators, law enforcement agencies, and tech experts as they tried to make sense of the evolving landscape of financial crime prevention and regulatory adherence.
Adeboye Ogunmolade, ACCOBIN chairman, highlighted how AI can transform the financial sector’s ecosystem. “The financial landscape is undergoing unprecedented change, driven by rapid technological advancements and increasingly complex threats,” Ogunmolade said.
