Tomas Skuomal is the chairman and co-founder of Dyna.Ai, a Singapore-based AI-as-a-Service financial company. He speaks with BusinessDay’s Chinwe Michael on the company’s plans to revolutionise the Nigerian market with its artificial intelligence solutions.
Can you tell us about Dyna Ai and its offerings?
Dyna.Ai is an artificial intelligence technology service company headquartered in Singapore that empowers businesses around the world with AI-driven solutions.
Dyna.Ai is dedicated to improving the efficiency and effectiveness of risk management and audience operations by leveraging systems, analytics, and AI-based operation solutions.
With operations already established in regions like Singapore, Indonesia, Dubai, and Mexico City, Dyna.Ai has developed AI-powered solutions tailored to high-population markets. These solutions focus on providing seamless, omnichannel communication that allows banks and financial services to engage customers across physical branches, mobile apps, and even WhatsApp.
You mentioned that you’re already operating in some countries. What inspired the decision to target Nigeria specifically?
Nigeria’s large population and growing demand for financial services make it an ideal candidate for expansion. We’ve observed a strong interest in digital solutions in markets like Singapore, Indonesia, and the UAE, where we have already established a presence. Given Nigeria’s tech-savvy population, it is a natural next step for us. Additionally, local banks are increasingly recognising the need to innovate to remain competitive. Overall, it presents a highly promising environment for our technology.
As you enter the Nigerian market, what customisations are you implementing to better serve local customers?
We know that linguistic nuances matter in Nigeria, and while we’re launching with English, we’re open to exploring local language integrations as we grow. We’ve seen that people appreciate AI-driven communication in English, but we’re ready to adapt to local preferences. Additionally, our goal is to learn from customer feedback here, as this helps us make tailored improvements.
Can you tell us more about how Dyna.Ai solutions will work in Nigeria and how they align with the unique market demands here?
Nigeria represents a dynamic and expansive market, and we’re excited to bring our technology here. Essentially, our AI solutions help financial institutions optimise their operations in two key areas: customer engagement and decision-making.
We enable banks to provide 24/7 customer service through AI-driven calls and mobile apps, which can significantly reduce customer wait times.
One of the main selling points of Dyna.Ai solutions is its capacity to cover all primary communication channels. This enables customers to interact with their banks through various platforms, from traditional calls to mobile apps and chat services. The AI system’s ability to handle text and voice communication means customers can receive assistance and complete transactions without needing a human operator.
For instance, if a customer starts a call and has to disconnect, they can resume exactly where they left off—no repeated explanations needed. Our AI also creates a more personalised interaction based on past customer conversations, helping banks better understand individual preferences.
So, how does the technology help financial institutions make better decisions?
Dyna.Ai integrates advanced analytical tools that assess data from multiple angles. We evaluate credit scores, demographic and behavioral data, and can even profile interests based on conversations—whether a customer leans towards sports, travel, or other areas.
This profiling helps banks tailor their product offerings. For example, if a customer is interested in travel, the bank might suggest travel-related financial products. This customisation isn’t just useful for marketing but can also help customers access relevant services more efficiently.
You mentioned using AI for anti-fraud measures. How does that work?
Fraud detection and prevention are indeed top priorities, and our AI solutions are built to enhance these areas. By analysing customer communication patterns, we identify unusual activity early on.
With additional data points, our algorithms improve detection accuracy, protecting both the bank and its clients. For example, our AI detects anomalies in transaction histories that might signal fraudulent activity, providing an extra layer of security for banks and their customers.
The fintech space in Nigeria is fast-growing, yet competitive. What sets your company apart?
There are a few important points to note. First, our solutions encompass all three key communication channels: physical branches, mobile apps, and AI-driven voice calls. This allows customers to interact with their bank in whichever way they prefer.
Many companies lack this integrated multichannel capability within a single system. Second, the AI’s ability to enhance decision-making using detailed customer insights is a distinct advantage. This means that banks can establish deeper relationships with their customers while making more informed lending and service choices.
Nigeria’s market is sensitive to transaction fees, and higher charges limit patronage. Can Dyna.Ai help lower costs?
Dyna.Ai does reduce operating costs for banks, as it minimises the need for extensive human labor in call centres. AI can handle a significant number of transactions and inquiries independently, which cuts down on operational expenses.
Now, while we provide tools to lower costs for banks, how it is translated is not within our control. Ultimately, we aim to create efficiencies that could, ideally, lead to lower transaction fees.
What is your view of the regulatory environment in Nigeria?
Nigeria has a unique regulatory environment, especially in the tech and finance sectors. While this could pose a challenge, we are approaching the market strategically by working closely with local partners to customise and ensure our services comply with local regulations.
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