The effect of digital platforms on business banking performance: A case study of First Bank Nigeria, Lagos
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Background of the Study
Digital platforms have become integral to modern business banking, transforming how banks deliver services, interact with clients, and manage operations. First Bank Nigeria in Lagos has invested heavily in digital platforms—including online banking portals, mobile apps, and automated customer service channels—to improve operational efficiency and drive performance in its business banking division (Oluwaseun, 2023). These platforms facilitate faster transactions, provide real-time data analytics, and enable seamless customer communication, all of which contribute to enhanced financial performance and customer satisfaction. Digitalization in business banking is not merely a technological upgrade; it represents a strategic shift towards more agile, data-driven, and customer-centric service delivery models (Adebola, 2024).
The adoption of digital platforms has allowed First Bank to streamline processes such as loan processing, fund transfers, and risk management, thereby reducing operational costs and error rates. Moreover, the integration of digital analytics enables the bank to tailor services to the evolving needs of its corporate clients and respond promptly to market trends (Ibrahim, 2025). Despite these advantages, the transition to digital platforms poses challenges, including the need for continuous system upgrades, cybersecurity threats, and the complexities of integrating new technologies with existing legacy systems. This study evaluates the impact of digital platforms on the performance of First Bank Nigeria’s business banking operations, with a focus on understanding how digitalization drives efficiency, customer engagement, and overall profitability.
Statement of the Problem
Although digital platforms have enhanced operational efficiencies, First Bank Nigeria faces several obstacles in fully capitalizing on digital technologies to improve business banking performance. One major issue is the integration challenge between new digital systems and outdated legacy infrastructure, which can lead to data inconsistencies and operational delays (Oluwaseun, 2023). Additionally, cybersecurity risks associated with digital platforms pose significant threats to data integrity and customer trust. The bank also experiences challenges in training staff to adapt to rapidly evolving digital tools, resulting in underutilization of available technological resources (Adebola, 2024). Moreover, the high cost of digital transformation and the need for continuous technological investment strain financial resources, limiting the scalability of digital solutions. These issues contribute to suboptimal performance outcomes and hinder the bank’s ability to achieve a competitive edge in the business banking sector (Ibrahim, 2025). This study aims to examine these problems in detail and propose solutions that can enhance the effective utilization of digital platforms for improved operational performance.
Objectives of the Study
- To evaluate the impact of digital platforms on business banking performance at First Bank Nigeria.
- To identify challenges in integrating digital solutions with legacy systems.
- To recommend strategies for optimizing digital platform usage to enhance performance.
Research Questions
- How do digital platforms influence business banking performance at First Bank Nigeria?
- What challenges are encountered during the integration of digital technologies?
- What measures can be taken to improve the effectiveness of digital platforms?
Research Hypotheses
- H₁: The adoption of digital platforms significantly enhances operational efficiency in business banking.
- H₂: Integration issues with legacy systems negatively affect the benefits of digital technologies.
- H₃: Continuous staff training improves the effective utilization of digital platforms.
Scope and Limitations of the Study
This study is confined to First Bank Nigeria’s business banking division in Lagos and examines digital transformation initiatives over recent periods. Limitations include rapidly evolving technology and potential data access constraints.
Definitions of Terms
- Digital Platforms: Online systems and applications used to conduct banking operations and deliver financial services.
- Business Banking Performance: The effectiveness and efficiency of banking services provided to business clients.
- Legacy Systems: Older technology infrastructures that may impede integration with new digital solutions.
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