The effect of digital innovation on corporate banking service delivery: A case study of Keystone Bank, Abuja
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Background of the Study
Digital innovation is increasingly reshaping service delivery in the banking sector, particularly in the corporate banking arena. Keystone Bank in Abuja has adopted a range of digital innovations—from advanced customer relationship management systems to blockchain-based payment solutions—to enhance its service delivery. Such innovations enable the bank to offer faster, more efficient, and personalized services to corporate clients, thereby increasing customer satisfaction and competitive advantage (Sule, 2023). The integration of digital tools into corporate banking processes allows for real-time data analysis, improved risk management, and streamlined operations. These capabilities are essential for meeting the complex financial needs of corporate clients in today’s fast-paced economic environment (Balogun, 2024).
The bank’s digital transformation strategy includes investments in artificial intelligence, machine learning, and cloud computing. These technologies have facilitated the automation of routine processes, reduced manual errors, and enhanced decision-making capabilities. By leveraging digital innovation, Keystone Bank has been able to deliver more agile and customer-centric banking services. This proactive approach not only boosts operational efficiency but also supports the bank’s broader goal of achieving sustainable growth in the corporate banking segment (Musa, 2025). However, the rapid pace of digital change brings its own set of challenges, such as the need for continuous technological upgrades and the risk of cybersecurity breaches. This study aims to evaluate the effect of digital innovation on service delivery in Keystone Bank’s corporate banking division, with an emphasis on identifying best practices and addressing potential challenges.
Statement of the Problem
Despite significant investments in digital innovation, Keystone Bank faces challenges in realizing the full benefits of its digital transformation initiatives. A major issue is the difficulty in integrating cutting-edge digital solutions with existing legacy systems, which often leads to operational disruptions and inefficiencies (Sule, 2023). Additionally, there is a persistent risk of cybersecurity threats, which can undermine the trust of corporate clients and compromise service delivery. The bank also faces internal challenges, such as resistance to change and skill gaps among staff, which further impede the successful implementation of digital innovations (Balogun, 2024). Moreover, the lack of standardized performance metrics to measure the impact of digital innovations on service delivery makes it challenging to quantify improvements and identify areas for further enhancement (Musa, 2025). These issues collectively hinder the bank’s ability to provide seamless, high-quality services to its corporate clients. This study seeks to explore these challenges in depth and propose strategies to optimize digital innovation in the corporate banking service delivery framework at Keystone Bank.
Objectives of the Study
- To assess the impact of digital innovation on the quality and efficiency of corporate banking services at Keystone Bank.
- To identify challenges in integrating digital solutions with existing systems.
- To recommend strategies for improving digital innovation implementation to enhance service delivery.
Research Questions
- How does digital innovation affect service delivery in corporate banking at Keystone Bank?
- What are the key challenges in integrating digital solutions with legacy systems?
- What strategies can be adopted to optimize digital innovation for better service delivery?
Research Hypotheses
- H₁: Digital innovation significantly improves service delivery efficiency in corporate banking at Keystone Bank.
- H₂: Integration challenges with legacy systems negatively affect the benefits of digital innovation.
- H₃: Effective digital transformation strategies are associated with higher customer satisfaction and operational performance.
Scope and Limitations of the Study
This study focuses on Keystone Bank’s corporate banking division in Abuja, analyzing recent digital transformation initiatives and their impact on service delivery. Limitations include rapid technological changes and data collection challenges.
Definitions of Terms
- Digital Innovation: The implementation of new digital technologies and processes to improve business operations.
- Corporate Banking Service Delivery: The processes and methods used to provide banking services to corporate clients.
- Legacy Systems: Older technology systems that may hinder the integration of new digital solutions.
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