The Influence of AI-Driven Marketing on the Financial Performance of Digital Banks in Nigeria

This study examined the influence of AI-driven marketing on the financial performance of digital banks in Nigeria. Specifically, it investigated the influence of AI-powered customer personalization, AI-enabled customer relationship management (CRM), and AI-powered chatbots and virtual assistants on financial performance. A quantitative research approach using a cross-sectional survey design was adopted. Data were collected through a structured questionnaire administered to employees of selected digital banks in Nigeria, with 236 valid responses used for the analysis. Data were analysed using the Statistical Package for the Social Sciences (SPSS) Version 29. Descriptive statistics were used to summarize the data, while simple linear regression was employed to test the hypotheses at the 5% level of significance. The findings revealed that AI-powered customer personalization (R² = 0.611, p < 0.05), AI-enabled CRM (R² = 0.663, p < 0.05), and AI-powered chatbots and virtual assistants (R² = 0.572, p < 0.05) each had a positive and significant influence on the financial performance of digital banks, with AI-enabled CRM emerging as the strongest predictor. It was concluded that AI-driven marketing significantly enhances the financial performance of digital banks in Nigeria by improving customer engagement, operational efficiency, and profitability. It was recommended that digital banks should strengthen AI-powered customer personalization, enhance AI-enabled CRM systems, and continuously improve AI-powered chatbots and virtual assistants to sustain superior financial performance.