An evaluation of innovation management in corporate banking: A case study of Fidelity Bank Nigeria, Kano
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Innovation management is crucial for maintaining a competitive edge in the rapidly evolving corporate banking landscape. Fidelity Bank Nigeria in Kano has made significant strides in incorporating innovative practices into its corporate banking services. The bank’s approach involves leveraging technology to develop new financial products, streamline operations, and enhance customer experiences. Through dedicated innovation hubs and collaborative projects with fintech firms, Fidelity Bank has introduced solutions such as digital payment platforms and automated risk assessment tools that address the unique needs of corporate clients (Oluwaseun, 2023). Innovation management within the bank is supported by a strategic framework that emphasizes continuous improvement, agile methodologies, and robust research and development initiatives (Adenola, 2024). However, challenges such as resistance to change, integration with legacy systems, and the high cost of technological investments can impede the effective implementation of innovative solutions. This study evaluates how innovation is managed in Fidelity Bank’s corporate banking division and its impact on service delivery and market competitiveness (Chukwu, 2025).
Statement of the Problem
Although Fidelity Bank has implemented several innovative solutions, challenges remain in managing and scaling these innovations effectively. A primary issue is the misalignment between innovative initiatives and the bank’s existing operational processes, leading to integration difficulties. Additionally, high implementation costs and resistance from employees accustomed to traditional methods hinder the diffusion of new technologies. The dynamic nature of the corporate banking environment, with its rapidly changing customer expectations and regulatory pressures, further complicates innovation management. These challenges result in delays and inefficiencies that may limit the potential benefits of innovation, ultimately affecting profitability and customer satisfaction (Oluwaseun, 2023). This study aims to investigate the barriers to effective innovation management and propose strategies to optimize the innovation process.
Objectives of the Study
- To assess the current innovation management practices in Fidelity Bank’s corporate banking division.
- To identify challenges that impede the effective implementation and scaling of innovative solutions.
- To recommend strategies to improve innovation management and enhance service delivery.
Research Questions
- What innovation management practices are currently used in Fidelity Bank’s corporate banking operations?
- What challenges hinder the effective management of innovation?
- How can innovation processes be optimized to improve service quality and competitiveness?
Research Hypotheses
- H₁: Effective innovation management significantly improves corporate banking service delivery.
- H₂: Integration challenges with legacy systems negatively affect innovation outcomes.
- H₃: Increased investment in innovation training enhances the successful implementation of new technologies.
Scope and Limitations of the Study
The study is confined to the corporate banking division of Fidelity Bank in Kano, focusing on innovation initiatives over recent fiscal periods. Limitations include potential resistance to change and rapidly evolving technological standards.
Definitions of Terms
- Innovation Management: The process of managing new ideas and technologies to improve business operations.
- Corporate Banking: Financial services provided to large business entities.
- Legacy Systems: Existing outdated systems that may hinder new technology adoption.
Related Project Materials
An Investigation of the Effectiveness of Enterprise Resource Planning in MTN Nigeria, Sokoto State
Background of the Study
Enterprise Resource Planning (ERP) systems are integrated software platforms that allow organizations to manage a...
An Investigation of Public Investment in Health and Its Impact on Productivity in Nigeria: A Case Study of Lagos State (2000–2020)
Background of the Study :
Public investment in health is a fundamental driver of human capital development and productivity. In Lagos Sta...
The Effect of Youth Empowerment Programs on Political Stability: A Study of Maiduguri Local Government, Borno State
Chapter One: Introduction
1.1 Background of the Study
Youth empowerment programs have become an...
Evaluation of Activity-Based Costing on Profitability in Nigerian Manufacturing Firms: A Study of Unilever Nigeria Plc
Background of the Study
Activity-based costing (ABC) is a cost accounting methodology that allocates overhead costs to prod...
A Study on the Effect of Digital Literacy Programs on Economic Empowerment in Nigeria
Background of the Study
Digital literacy programs are increasingly recognized as vital for enabling individuals to partici...
An evaluation of the role of traditional hunters in community security in Ganye Local Government Area, Adamawa State
Chapter One: Introduction
1.1 Background of the Study
In many rural areas of Nigeria, particular...
The Role of Advertising in Enhancing Public Acceptance of Public-Private Partnerships (PPPs) in Lafia LGA, Nasarawa State
Background of the Study
Public-Private Partnerships (PPPs) are collaborative agreements between government and private sect...
An evaluation of the adoption of online learning in private versus public secondary schools in Lokoja North LGA, Kogi State
Background of the Study
The adoption of online learning has transformed educational delivery across various school sectors...
The Effect of Gender-Based Electoral Violence on Women’s Political Participation in Wase Local Government Area, Plateau State
Background of the Study
Gender-based electoral violence refers to acts of violence that are targeted at...
Comparative Study of Internet Censorship and Access Control Mechanisms in Federal University, Lokoja, Kogi State
Background of the Study
Internet censorship and access control mechanisms are critical components in managing and securi...
