4 January 2019

Nigeria: NSE Unveils Ai Powered X-Bot to Enhance Market Participation

The Nigerian Stock Exchange, NSE, has launched the X-Bot, an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries through Facebook Messenger.

The X-Bot which is the first African securities exchange Chatbot is designed to provide market participants, especially retail investors, convenient, faster and real-time access to data and information from the Exchange.

Commenting on X-Bot, Mr. Oscar N. Onyema, CEO of the Exchange, noted that the introduction of X-Bot is in line with the NSE's drive to improve market participation through greater access to market information.

"We aim for an Exchange that is easily accessible and actively matches investors' increased thirst for information and detailed disclosure information to make sound investment decisions. With X-Bot, investors in our market can access on-demand market information, news and events on the activities of the Exchange and the various products and instruments that are listed and traded on it".

"The Exchange has always been at the forefront of innovation, and the launch of the X-Bot marks yet another significant milestone in our continuous adoption of new technologies with a customer-centric focus to make financial services more inclusive and to provide a superior customer experience in the access and use of capital", said Onyema.

On his part, Mr. John Adelana, head, Regulatory Technology (RegTech), NSE, stated that "Customer experience is a key priority for NSE and we are deeply committed to constantly improving it. With the launch of X-Bot, NSE becomes the first African securities exchange to launch a customer interactive machine learning chatbot, which contributes to facilitating and accelerating the process of providing information to market participants.

"We are particularly excited about the ability of X-Bot to learn through customers interactions and become better at providing our customers with more relevant and timelier solutions overtime".

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