With this milestone, UBA becomes the first financial institution to enable cross-border payments on a chatbot platform in Africa, enabling instant, seamless, and secure transactions in local currencies between African countries.

At the press conference announcing the official launch event which was held at the UBA Head Office, Lagos on Wednesday, the UBA and PAPPS took media men through the journey which had culminated in the partnership aimed at deepening intra-African trade, digitising and aiding seamless transactions across the continent.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who welcomed the PAPPS team and the media practitioners, described the event as a momentous one for the bank and a significant leap in the realisation of intra-African trade.

Alawuba said;

“For us, this is what UBA is all about – connectivity and easing transactions. With PAPSS now fully integrated on our LEO platform, we are not just simplifying payments – we are breaking down the barriers to economic collaboration across African markets and allowing Africans to be able to transact using their own local currencies. This is aligned with our vision of being at the heart of Africa’s economic transformation, and so, I say, Now, Africa trade begins!”

He emphasised that as the future of Africa, lies with the youth, UBA as a bank continues to seek ways to support the youth to grow the economy, adding that the integration of PAPPS on the LEO Platform is one of such ways.

In his submission, Mike Ogbalu III, the chief executive officer, PAPPS, who commended UBA for being an excellent partner with Afreximbank and PAPPS on their Pan-African journey towards enabling trade on the continent, explained that UBA was one of the first financial institutions to enter into PAPPS.

Ogbalu said,

“Indeed, PAPPS has had an excellent run with UBA, which has now extended from carrying out these transactions from their branches to digital platforms and channels such as LEO. By this, customers can send and receive their monies within seconds. This of course has an accelerated impact on trade as there is now an interplay between convenience and seamless transacting.

“Before now, Africa intra-trade used to be very low and limited, but this product and service has come to address this and we are already seeing a lot of impact with this product,” he noted.

Shamsideen Fashola, UBA’s head, Retail and Digital Banking, explained that the innovation means UBA customers can now experience truly borderless banking on a platform they already trust.

“The recent deployment of PAPSS on our LEO Chatbanking platform is a bold step in that direction. With this, UBA becomes the First Bank in Africa to power cross-border payments through a chatbot, reinforcing our digital leadership and setting a new benchmark in financial services across the continent,” he said.

According to him, Early data already shows promising adoption, especially in the Ghana-Nigeria corridor, and the bank remains committed to deepening awareness and driving even more value for customers across our markets.

“This collaboration is a transformational move that simplifies payments, empowers traders, supports families, and unlocks economic potential in line our goals,” he added.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

This innovation is powered by the Pan-African Payment and Settlement System (PAPSS), a platform developed by the African Export-Import Bank (AfreximBank) to facilitate seamless intra-African payments in local currencies.

With this integration, UBA customers, from individuals and small traders to large corporations, can now transfer funds instantly across African countries where PAPSS is approved by respective central banks.

A Bold Leap in African Banking

Oliver Alawuba, group managing director/CEO of UBA, described the breakthrough as a major step toward UBA’s vision of a more connected and inclusive Africa.

“The launch of cross-border payments on LEO, in partnership with PAPSS, is more than an upgrade, it’s a leap into the future of African finance,” Alawuba said.

“We’re combining digital innovation with the goal of Pan-African integration to deliver customer-centric solutions that reflect the realities of modern-day Africa.”

Fast, Secure, and Cost-Effective

With LEO’s PAPSS-enabled payment feature, users can enjoy:

• Instant money transfers across borders within seconds
• Self-service convenience directly on the chatbot interface
• Lower transaction costs
• Zero charges for recipients
• Enhanced security and confidentiality

Shamsideen Fasola, group head of Retail and Digital Banking at UBA, highlighted how this move also supports broader economic goals:

“This is a game-changer for financial inclusion and intra-African trade. By enabling UBA customers to send and receive money across the continent in local currencies, we are breaking down old barriers and formalizing what has traditionally been informal trade,” Fasola said.

Driving AfCFTA’s Vision Forward

This innovation aligns strongly with the objectives of the African Continental Free Trade Area (AfCFTA), by streamlining cross-border trade, supporting small businesses, and reducing reliance on foreign currencies for regional transactions.

By becoming the first bank in Africa to activate cross-border payments via a chatbot, UBA once again cements its leadership in digital transformation, financial inclusion, and customer experience.

With a presence in 20 African countries and global offices in the UK, USA, France, and UAE, UBA serves over 45 million customers and employs 25,000 staff across its network, consistently delivering future-forward banking solutions at scale.

Africa’s Digital Future Begins with LEO

UBA’s LEO isn’t just chatting anymore, it’s connecting Africa like never before.

There has been a tremendous transition in Nigeria’s financial services industry’s dynamic terrain in recent years since AI and machine learning (ML) emerged as catalysts for revolutionising digital product marketing.

Today, we explore the tremendous influence of AI and ML on digital product marketing in Nigeria’s financial services sector, revealing their enormous potential for driving growth, personalisation, and customer-centricity. With their unrivalled capabilities, these ground-breaking technologies are altering how financial institutions communicate with clients and advertise their goods.

AI and ML’s primary benefits are their ability to analyse vast amounts of data with incredible speed and accuracy.

In digital product marketing, this translates into powerful insights and data-driven strategies. Financial institutions can leverage AI-powered algorithms to understand customer behaviour, preferences, and needs on a granular level. Using this knowledge, they can design targeted marketing campaigns that tailor product offerings to specific customer segments and maximise the chances of conversion.

Furthermore, AI and ML enable personalisation at scale. Gone are the days of generic marketing messages that fail to resonate with customers. Financial institutions can now deliver highly personalised and relevant content to their target audience through sophisticated algorithms.

AI and ML empower marketers to create meaningful connections with customers, fostering loyalty and enhancing customer experiences through customised product recommendations, personalised emails, and targeted social media advertisements.

Also, AI-powered chatbots like Sparkle’s Indy and UBA’s Leo have revolutionised customer interactions in the Nigerian financial services industry.

These intelligent virtual assistants, equipped with natural language processing capabilities, are available 24/7 to address customer queries, provide support, and deliver personalised recommendations. By enabling swift and efficient problem resolution while reducing operational costs, this technology enhances customer satisfaction and allows human resources to concentrate on more complex tasks, optimising productivity.

The impact of AI and ML on digital product marketing in the Nigerian financial services industry extends beyond customer engagement. These technologies have also proven instrumental in risk management and fraud detection.

Machine learning algorithms can analyse patterns and anomalies in real-time, detecting fraudulent activities with greater accuracy and speed. Fostering trust and confidence in the industry, financial institutions protect customers and safeguard their reputation and integrity.

While we cannot deny that the benefits of AI and ML in digital product marketing are significant, it is crucial to address their potential challenges and considerations. When implementing these technologies, prioritising data privacy and security becomes essential.

Financial institutions must actively adhere to robust data protection protocols to ensure customer information’s confidentiality and integrity. Additionally, emphasising the ethical use of AI and ML becomes crucial in building customer trust, where transparency and fairness take precedence.

As Nigeria’s financial services industry embraces AI and ML, collaboration and knowledge sharing among industry players become imperative.

Sharing best practices, experiences, and insights can accelerate the adoption and optimisation of these technologies, benefitting the entire ecosystem. Regulatory bodies also play a vital role in providing guidance and frameworks that ensure responsible AI usage while promoting innovation and customer protection.

In conclusion, artificial intelligence and machine learning have unleashed a new era of digital product marketing in the Nigerian financial services industry. Through data-driven insights, personalised experiences, and enhanced customer engagement, AI and ML are reshaping how financial institutions market their products.

Leveraging these technologies allows for targeted campaigns, improved customer experiences, and effective risk management. However, ethical considerations and a focus on data privacy must remain at the forefront of this technological advancement. By embracing AI and ML responsibly and fostering collaboration, the Nigerian financial services industry can unlock unprecedented opportunities and drive sustainable growth in the digital age.

About the writer:

Okwuchukwu Udeh is a highly accomplished Growth and Product Marketing Manager with a strong focus on fintech and financial services. She uses technology to drive business success and offers invaluable financial advice. Okwuchukwu’s op-eds inspire readers and provide insightful perspectives to navigate the dynamic landscape of financial services.