Access Holdings Plc., one of Africa’s leading financial services providers, is pioneering the adoption of artificial intelligence (AI) to enhance operations, accelerate innovation, and drive economic growth. With AI tools like Microsoft 365 Copilot, the Nigerian financial giant is demonstrating the transformative potential of AI in the financial services industry (FSI) across the continent.
As AI continues to reshape industries worldwide, African FSI leaders are increasingly exploring its potential to boost profitability and streamline operations. Recent data from the GSM Association highlights Sub-Saharan Africa’s leadership in mobile banking, reflecting the region’s competitive approach to innovation. Yet, the pressure to improve profitability through productivity gains remains high.
Access Holdings, which has grown from a small Nigerian bank to a major player in African finance over the past 30 years, is a notable example of AI’s impact. Serving over 56 million customers across multiple countries, the company turned to generative AI to tackle challenges like data management, productivity, and lengthy development timelines.
Lanre Bamisebi, Executive Director of IT and Digitalisation at Access Holdings, explained that adopting AI was a strategic decision to keep up with beneficial technology trends. “We aim to mainstream sustainable business practices to support our growth,” Bamisebi said.
However, the shift to AI was not without its challenges. Initially, employees were wary, with concerns ranging from general resistance to fears about job security. To ease the transition, Access Holdings began training executive directors and general managers to use Copilot, which helped identify practical applications for the technology across the company. “We were amazed that people who didn’t know how to use AI just hours before could suddenly find ways to incorporate it into their work,” Bamisebi added.
The impact of AI was felt quickly. In just three months, Access Holdings saw significant improvements in productivity. Data scientists could extract key insights more efficiently, and developers drastically shortened development timelines. Projects that once took months were completed in just 10 days using Copilot, according to Bamisebi.
Across the organisation, employees saw productivity gains, particularly in report and presentation preparation. For example, one executive used Copilot to analyze and refine a report in 45 minutes—a task that normally would have taken several hours.
The AI tools have also streamlined internal meetings, summarising chats, emails, and minutes to prevent important action items from being overlooked. This has improved employee engagement by 25%, with staff able to focus more on discussions and less on note-taking.
By embracing AI, Access Holdings is not only enhancing its operations but also setting a benchmark for other African companies. The firm’s experience demonstrates that AI is no longer a distant concept but a present reality that can transform businesses, boost efficiency, and drive growth across Africa’s economy. As Bamisebi concludes, “In a few months, we’ve made better decisions, analyzed data more effectively, and collaborated more smoothly. We expect even greater gains in the year ahead.”
