FCMB advocates stronger data infrastructure for digital banking

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FCMB has called for increased investment in local data infrastructure and careful data localisation to protect customer information and ensure digital bank Read More:…

First City Monument Bank has called for increased investment in local data infrastructure and the careful implementation of data localisation measures to protect customer information and ensure uninterrupted digital banking services.

The bank’s Chief Technology Officer, Blessing Ehize, made the call during a panel session at the CIO & C-Suite Conference and Awards Africa, held at the Federal Palace Hotel in Lagos.

Ehize, according to a statement from the bank on Thursday, stressed the importance of adopting a risk-based approach to data localisation, considering data sensitivity, cybersecurity threats, infrastructure capacity, and service continuity.

He explained that financial institutions must assess the risks associated with storing, processing and migrating data while implementing appropriate safeguards to protect customers and minimise service disruptions.

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