Exploring Artificial Intelligence Integration in Mortgage Financing Solutions: A Study of Non-interest Banks in Nigeria
DOI:
https://doi.org/10.53840/ijiefer297Keywords:
Artificial Intelligence; Mortgage; Non-interest banks; Financial inclusion; Mortgage solutionsAbstract
Purpose - Previous studies have mainly discussed artificial intelligence (AI) in the context of countries such as Britain, the United States and China, with limited research in the context of developing world like Nigeria. This study therefore explores AI integration in mortgage solutions among non-interest banks in Nigeria.
Design/Methodology/Approach - The study adopts a qualitative research design focused on four full-fledged Islamic banks in Nigeria; Jaiz, TAJ, LOTUS and Alternative Bank. It uses purposive sampling techniques, with primary data gathered through semi-structured interviews with the heads of the Corporate Banking, Risk Management, Compliance/Mortgage and Marketing Departments. NVivo 14 software was used for analysis.
Findings - The findings show that non-interest banks face inadequate manpower, particularly in AI technology, which hinders its integration into mortgage solutions. Other challenges include trust issues, access to collateral security, and low levels of technology adoption. The study recommends using current technologies to support AI-enabled mortgage solutions.
Originality/Value - The study contributes to the limited literature on AI integration in non-interest banking and Islamic banking solution in Nigeria.
Research limitations/Implication - The study is limited to selected non-interest banks and is interview-based. Future studies may consider mixed-methods approaches and extend the scope to customers and regulators.
Practical Implications - The findings suggest that non-interest banks should strengthen digital infrastructure, build AI capacity and design technology-driven infrastructure.
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Copyright (c) 2026 SANI DANJUMA, Prof. Salina Kassim, Assoc. Prof. Dr. Ashurov Sharofiddin, Ahmad Muktar
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