AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Before you use a money assistant, lock your phone with a code only you know, keep the operating system and apps updated, avoid free public WiFi and public charging ports, and guard your SIM against swaps. Never share your PIN or one-time codes. With the Pryme Personal Assistant, nothing moves without your approval, which adds a final check.
Your phone is the front door
A money assistant lives on your phone. However careful the app is, an open phone in the wrong hands, or a SIM card taken over by a fraudster, puts your money at risk. The Nigerian Communications Commission has described illegal SIM swaps and USSD payment fraud as among the most serious cyber threats in the telecoms industry. The good news is that most protection comes from a few habits you set up once.
This matters more with a voice assistant than with an ordinary app, because you may use it in more places: in the car, at the shop, while cooking. The more often your phone is out and in use, the more important it is that it locks quickly, stays updated and cannot be taken over through its SIM. Work through the steps below once, then review them every few months or whenever you change phones.
The ten-step set-up
- Set a screen lock. Use a PIN or passcode of at least six digits, or a pattern nobody has watched you draw. Add fingerprint or face recognition if you like, but keep the code private.
- Make the lock different from your banking PIN. If someone learns one, they should not have the other.
- Shorten the auto-lock time. A phone that locks after 30 seconds of inactivity is safer than one that stays open for five minutes.
- Update the operating system. Updates fix security holes. Install them when your phone offers them.
- Update your apps, including the Pryme app, from the official app store only.
- Remove apps you do not use, especially ones that asked for wide permissions.
- Check microphone and screen permissions. Only apps you trust should be able to use the microphone or read the screen.
- Add a SIM PIN. Most phones let you set a PIN on the SIM itself, so a stolen SIM cannot be used in another phone without it.
- Turn on find-my-phone. If your phone is lost, you can locate, lock or wipe it.
- Write down who to call. Keep your network provider's and Pryme's contact details somewhere outside the phone.
WiFi, charging and public places
The NCC has warned that free WiFi and free phone-charging ports, especially at airports and other public places, could make it easier for criminals to hack phones. In practice:
- Use your own mobile data for anything involving money.
- Carry your own charger or a power bank rather than plugging into unknown USB ports.
- Do not speak amounts, names or account details to your assistant in crowded places.
If you travel often for work, set up a simple routine: phone on mobile data, own charger in your bag, and money tasks saved for the hotel room or the car. It takes no extra time once it is a habit.
Protecting your SIM and number
Many scams begin with taking over a victim's phone number, then using it to receive codes or impersonate them to family. Warning signs include your phone suddenly losing network for no reason while others around you have signal, or messages from your network about a SIM change you did not request.
| Warning sign | What to do |
|---|---|
| Sudden "No service" while others have signal | Call your network from another phone and ask whether your SIM has been changed |
| SMS about a SIM swap you did not ask for | Contact your network immediately |
| Family say they received money requests "from you" | Warn them, then check your SIM and accounts |
| Login alerts you do not recognise | Contact Pryme through the contact page |
What your money assistant should never need
A well-designed money assistant does not need your secrets. The Pryme Personal Assistant prepares bill payments, savings moves and transfers, and nothing moves until you approve. It does not need you to say your PIN or one-time codes aloud. If any voice, call or message asks for them, it is not your assistant.
Think of the approval step as your last line of defence, not your only one. A locked phone, a protected SIM and a cautious approach to unexpected messages mean a fraudster never gets near that step in the first place.
For more on what to keep private, see is it safe to share your BVN? and our guide to fake assistant calls and messages.
Worked example: a phone stolen at a bus stop
Example only. Kemi, a sales rep in Ibadan, has her phone snatched at a bus stop. Because her screen locks after 30 seconds with a six-digit code, the thief cannot open it. She borrows a colleague's phone, calls her network to block the SIM, and uses find-my-phone from a laptop to lock the device. She then contacts Pryme to report the lost phone. Her assistant had nothing pending, and nothing could have moved without her approval inside her own locked app. She gets a replacement SIM and reinstalls the Pryme app on her new phone the next day.
Where Pryme fits
Pryme takes security seriously; read our security page for how we protect accounts. Every Personal Account customer can set up the Personal Assistant, which prepares and never moves money without approval. Pryme Financial Ltd is a technology company; naira deposits are held by Solid Allianze Microfinance Bank Ltd, licensed by the CBN and insured by the NDIC up to the applicable limit.
Questions people ask
How do I protect my phone from SIM swap fraud in Nigeria?
Set a SIM PIN, watch for sudden loss of network, and call your network immediately if you suspect your SIM has been changed.
Is it safe to use banking apps on public WiFi?
It is safer to use your own mobile data. The NCC has warned that free WiFi and public charging ports can make phones easier to hack.
Should my phone lock code be the same as my bank PIN?
No. Use different numbers for your screen lock, SIM PIN and transaction PIN.
What should I do if my phone with banking apps is stolen?
Block your SIM with your network, lock or wipe the phone remotely, and contact your bank or Pryme.
Sources
- Nigerian Communications Commission: Measures to Protect Consumers against Financial Frauds · accessed Oct 2026
- Central Bank of Nigeria: Complaints Management · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.