Bloom Bank Africa Liberia, in partnership with the Oakwood Knowledge Academy, has convened a one-day high-level Artificial Intelligence (AI) workshop for finance professionals in Monrovia.
The breakfast meeting, held on Wednesday, May 13, was organized under the theme "AI for Finance Professionals: Leverage AI to Transform Financial Strategy, Reporting & Decision-Making." It focused on the growing role of artificial intelligence in banking, financial management, customer service, risk management, and decision-making.
Delivering opening remarks, Bloom Bank Africa Liberia Managing Director Lekan Balogun described the workshop as timely and necessary, emphasizing that artificial intelligence is rapidly changing the way institutions operate around the world.
"For all of us being here today, it means that one way or the other, we already appreciate what this artificial intelligence is all about," Balogun said. "And that's why we took time from our busy schedules to be here this morning."
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Balogun stressed that while technology has long shaped modern life, artificial intelligence represents a transformative shift that is redefining business operations, particularly in the financial sector.
"Artificial intelligence has completely changed the landscape for everything that we do," he stated. "Tasks that before now appeared to be difficult and time-consuming can now be achieved with just a click of a button at the right prompt."
The Bloom Bank MD, however, warned against blind dependence on AI systems, cautioning that human judgment, accountability, and ethical responsibility must remain central to financial operations.
"Artificial intelligence without responsibility or accountability is completely risky," he cautioned. "It's actually garbage in, garbage out. If you rely heavily on artificial intelligence, you might actually be committing more offense than solving the solution you are trying to solve."
According to him, the key issue is no longer whether institutions should adopt AI, but whether the technology can be used responsibly, practically, and effectively.
"For us, the central question is not whether we are supposed to use AI," Balogun said. "The most important question is whether it can be used responsibly. The most important question is whether it can deliver the value that we actually require of it."
He noted that AI is already becoming deeply integrated into banking systems through services such as facial recognition technology, automated customer services, and digital banking applications.
"In the financial sector, we can't run away from it," he said. "If we don't adopt this technology, a lot of us will be left behind."
Balogun further assured customers that despite increased automation, banks would continue to prioritize security, discipline, transparency, and data protection.
"Even as much as we are adopting AI, we still hold the utmost trust to make sure that we keep your money safe," he emphasized. "Responsible adoption is critical."
Using practical examples from around the world, Balogun pointed to AI-driven technologies already transforming daily life, including robots delivering food during COVID-19 lockdowns, driverless vehicles, and smart homes controlled remotely through artificial intelligence systems.
"The time to have started this is yesterday," he remarked. "Today, some countries are already testing driverless cars. Some homes are already built on intelligence."
He encouraged participants to challenge traditional assumptions and actively explore practical AI applications within their institutions.
"Ask practical questions, challenge assumptions, learn and unlearn old ways of doing things," Balogun urged attendees.
In her welcome remarks virtually from the United Kingdom, Fatumata Soukouna Coker, Non-Executive Director of Bloom Bank Africa, described artificial intelligence as no longer a "distant discussion," but a tool that increasingly influences decision-making, productivity, customer experience, and risk management across industries.
"It's not about techies anymore," she said. "It's about how we make decisions from the boardroom to the execution of what we do with our customers."
Coker stressed that AI should be viewed as a tool for augmenting professionals rather than replacing them.
"We're shifting the narrative now from AI replacing finance professionals to AI augmenting them," she explained.
She also highlighted the importance of localizing AI systems for Liberia's unique economic and financial realities, including local trade patterns and the Liberian dollar market.
"We need to think about the localization of our data," she stated. "AI is what you put in and what you get out."
The Bloom Bank executive emphasized that trust and ethics remain central to banking operations, even as AI becomes more widely integrated into financial systems.
"How can AI help us maintain that trust? Because that's our currency for banking -- trust," she noted.
Coker also called for stronger collaboration among banks, regulators, fintech companies, and government institutions to ensure Liberia does not fall behind in the global AI transition.
"The future is not waiting for us," she warned. "This time around, Liberia will not be left behind."
Reading the keynote address on behalf of Liberia's Comptroller and Accountant General, Arthur Norris said artificial intelligence is rapidly transforming financial management, banking operations, and decision-making globally.
"Artificial intelligence is transforming financial management and decision-making every day," Norris declared.
He explained that AI systems are increasingly being used for automation, fraud detection, data management, forecasting, portfolio management, credit analysis, and compliance operations.
"Routine tasks such as document processing, data entry, and compliance are performed by the aid of artificial intelligence, freeing up space for staff to perform more complex tasks," he stated.
Norris noted that AI is especially critical in combating sophisticated financial crimes, including money laundering and terrorist financing.
"At this level, AI enables systems to learn from transaction patterns, identify abnormalities, and eliminate potential threats," he explained.
The keynote speaker also highlighted global developments in AI regulation, referencing policy initiatives in the United States, United Kingdom, China, Japan, and Europe aimed at ensuring ethical AI governance and preventing algorithmic discrimination.
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"Without a proper regulatory framework, this advancement in technology will not be a proper help to human life in the near future," Norris warned.
He concluded by urging Liberian institutions to embrace AI responsibly while ensuring strong oversight and ethical safeguards.
"AI is making banking and financial management efficient and effective," Norris stated. "All we need to do is take advantage of the technologies available and make our jobs better with the aid of AI."
The workshop brought together staff of the bank, finance professionals, to discuss how artificial intelligence can help modernize Liberia's financial sector and improve service delivery across the country.
About Bloom Bank
Bloom Bank Africa is a Pan-African financial institution committed to enabling seamless trade, financial inclusion, and economic growth across the continent. With operations across multiple West African markets, including Liberia, Sierra Leone, and The Gambia, the bank provides a full suite of retail, corporate, SME, and trade finance solutions tailored to the needs of individuals and businesses.
Built on a foundation of innovation and transformation, Bloom Bank Africa leverages digital banking, treasury services, and value-chain financing to bridge capital flows across Africa in alignment with the vision of the African Continental Free Trade Area (AfCFTA). Guided by its purpose-- "We make it happen"--the bank positions itself as a catalyst for progress, helping customers and communities flourish through accessible, customer-focused financial services.
