Business News Editor
By Dave Munachi
United Bank for Africa (UBA) Plc has achieved a significant technological milestone by integrating its artificial intelligence-powered chatbot, LEO, with the Pan-African Payment and Settlement System (PAPSS). The strategic move, described by the Group Managing Director, Oliver Alawuba, as a major leap towards building a homegrown, seamless intra-African payment ecosystem, positions UBA as the first bank on the continent to enable cross-border payments through a chatbot platform. The official launch was announced at a press conference held in Lagos, where UBA and PAPSS representatives detailed the innovation’s journey—from conception to execution—highlighting its critical role in enhancing regional trade, digital finance, and economic integration. With the LEO-PAPSS integration, individuals, businesses, and corporate customers can now send and receive money across African countries in local currencies, beginning with the Nigeria-Ghana corridor. The service eliminates the dependency on foreign exchange by leveraging PAPSS, a financial market infrastructure developed in collaboration with the African Export-Import Bank (Afreximbank). Speaking at the event, Alawuba described the development as a turning point for Africa’s economic future. “This is what UBA stands for – connectivity, innovation, and enabling Africans to trade and transact without borders,” he said. “With PAPSS now on our LEO platform, we’re not just making payments easier, we’re helping to unlock the full potential of intra-African trade, allowing transactions to happen in real time using local currencies. This is about empowering Africa and driving economic transformation.” The integration of PAPSS into LEO further amplifies UBA’s longstanding vision of being at the center of Africa’s economic progress. Alawuba also emphasized that UBA remains deeply committed to supporting African youth—the continent’s future—through technology, innovation, and access to inclusive financial tools. Mark Ogbalu III, Chief Executive Officer of PAPSS, commended UBA for its leadership and partnership in promoting financial inclusion and cross-border commerce. He recalled that UBA was one of the earliest banks to join PAPSS, and now stands out as the first to move PAPSS-enabled transactions into the digital space via chatbot technology. “What we’re seeing here is transformational. Previously, intra-African trade was slowed down by limited payment options and currency exchange issues,” Ogbalu noted. “But this product solves that. With LEO and PAPSS, users can now transfer and receive funds across countries within seconds. It’s convenient, secure, and revolutionary for trade and commerce.” Shamsideen Fashola, UBA’s Head of Retail and Digital Banking, highlighted the impact of this innovation on customer experience. “Our customers have come to trust LEO for simple, smart, and secure banking. Now, with PAPSS fully integrated, we are offering them a truly borderless banking experience—something that no other bank in Africa currently provides. This reaffirms our role as digital pioneers in African banking,” he said. The collaboration between UBA and PAPSS is expected to significantly boost intra-African trade volumes, promote regional economic cooperation, and reduce transaction time and cost for millions of Africans. More importantly, it sets a new benchmark in how banks can use AI and digital platforms to drive economic growth and deliver real value across the continent.
