FCMB advocates stronger data infrastructure for digital banking

First City Monument Bank (FCMB) has called for increased investment in local data infrastructure and careful implementation of data localisation measures to protect customer information and ensure uninterrupted digital banking services. The bank's Chief Technology Officer, Blessing Ehize, emphasized the need for a risk-based approach to data localisation, considering data sensitivity, cybersecurity threats, infrastructure capacity, and service continuity.

Ehize stressed the importance of strengthening cybersecurity capabilities, technical expertise, and operational resilience alongside physical infrastructure, urging financial institutions to balance innovation with cost efficiency through deliberate technology investments and appropriate automation.

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