Corporate banking in Africa is undergoing a transformation, and the conversation has shifted beyond traditional deposits and loans.
Speaking recently during a panel session at Future of Finance Summit, Lanre Bamisebi, Executive Director, IT and Digitisation at Access Holdings, highlighted the urgent need for financial institutions to bridge the widening gap between what corporates require and what banks currently provide.
“Corporates are no longer asking for just an ad or a simple product, they want visibility into liquidity, frictionless cross-border payments, and integrated solutions that anticipate their changing needs.” Bamisebi noted during the session. Despite progress across the industry, he acknowledged a persistent disconnect between corporate expectations and available banking services.
Drawing from Access Bank’s scale, serving over 65 million customers and processing up to 12.5 million transactions daily, Bamisebi underscored the transformative potential of technology and artificial intelligence in closing this gap. Advanced data management and AI-driven insights, he said, now make it possible to personalise corporate solutions at a level previously unimaginable.
“Retail banking is straightforward, corporate banking is complex. Every company, even within the same sector, has unique needs that require tailored solutions.” he explained.
Bamisebi also addressed the realities of legacy systems and the challenge of innovating while maintaining stability. “It is like flying a plane while serving meals, We have to keep operations steady while deploying technology and AI to adapt to corporate requirements as they evolve.” he quipped.
He emphasised that generic, one-size-fits-all products no longer meet the needs of companies in sectors such as oil and gas, mining, and telecommunications. Instead, banks must invest in deep sector expertise, build flexible AI-enabled solutions, and continuously evolve with their clients. The future, he said, belongs to institutions that can deliver predictability and proactive service, anticipating needs before clients even voice them.
On the growing reliance on AI, Bamisebi expressed measured optimism. While AI is now essential to modern banking, he cautioned that its biases and potential “hallucinations” require strong oversight. He compared today’s stage of AI adoption to the early days of the Internet: transformative, necessary, and demanding vigilance.
Looking ahead, Bamisebi offered three strategic recommendations for banks aspiring to become the preferred corporate banking partners across Africa: Model success; Study and adapt effective frameworks, including Access Bank’s customer-centric approach. Focus on a niche; Rather than attempting to serve every sector, specialize deeply and deliver superior value in selected industries and Commit to continuous learning; Stay attuned to clients’ evolving needs and invest in technology capable of anticipating those changes.
Bamisebi concluded that the future of corporate banking in Africa lies in the fusion of sector-specific expertise, AI-driven insights, and relentless adaptability. Banks that embrace this trifecta, he affirmed, will not only meet the needs of modern corporates but also play a defining role in shaping the continent’s financial future.
