An appraisal of customer behavior analysis in business banking: A case study of First City Monument Bank, Abuja
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Customer behavior analysis involves understanding the patterns and preferences of clients to improve service delivery and product offerings in business banking. First City Monument Bank (FCMB) in Abuja has leveraged data analytics and market research to gain insights into the behavior of its corporate clientele. By analyzing transactional data, social media interactions, and feedback surveys, FCMB tailors its banking solutions to meet the specific needs of its customers. This strategic approach not only enhances customer satisfaction but also drives profitability by enabling more targeted marketing, efficient cross-selling, and customized financial solutions. The integration of digital tools and advanced analytical methods provides a comprehensive view of customer behavior, allowing the bank to anticipate market trends and respond proactively (Okeke, 2023; Adenola, 2024). However, challenges such as data silos, privacy concerns, and the complexity of analyzing unstructured data remain obstacles to fully exploiting customer behavior analysis. This study examines the effectiveness of customer behavior analysis at FCMB, with the goal of identifying key factors that influence customer engagement and retention in business banking.
Statement of the Problem
FCMB experiences difficulties in harnessing customer behavior data due to fragmented data sources and inconsistencies in data integration. These challenges result in an incomplete understanding of customer preferences, which can lead to less effective product offerings and marketing strategies. Additionally, privacy concerns and regulatory constraints limit the extent of data collection, while the complexity of processing large volumes of unstructured data further complicates analysis. Such issues diminish the bank’s ability to personalize services and maintain a competitive edge in business banking (Okeke, 2023; Adenola, 2024; Chukwu, 2025).
Objectives of the Study
- To evaluate the current practices in customer behavior analysis at FCMB.
- To identify challenges associated with data integration and privacy.
- To recommend strategies to enhance customer behavior analysis for improved business banking performance.
Research Questions
- What methods does FCMB use to analyze customer behavior?
- What challenges affect the integration and analysis of customer data?
- How can customer behavior analysis be optimized to improve service delivery?
Research Hypotheses
- H₁: Effective customer behavior analysis significantly enhances customer satisfaction in business banking.
- H₂: Data integration challenges negatively impact the quality of customer insights.
- H₃: Improved data governance enhances the accuracy of customer behavior analysis.
Scope and Limitations of the Study
The study focuses on FCMB’s business banking division in Abuja, examining customer behavior analysis over recent periods. Limitations include potential biases in self-reported customer data and restrictions on data accessibility.
Definitions of Terms
- Customer Behavior Analysis: The study of customer actions and preferences using data analytics.
- Data Silos: Isolated data systems that impede information flow.
- Business Banking: Financial services provided to corporate clients.
Related Project Materials
DOMESTIC OUTCOMES OF NIGERIA’S ECONOMIC DIPLOMACY 1999-2007
ABSTRACT
Economic Diplomacy(ED) is the management of international relations aimed at promoting exports and increasing access to Foreign...
An investigation of human trafficking and law enforcement effectiveness in Yola South, Adamawa State.
Background of the Study:
Human trafficking remains one of the most pervasive forms of organized crime globally, with Nigeri...
The impact of fiscal policy on stimulating domestic investment in Nigeria: An evaluation of tax incentive schemes in Kaduna State (2000–2020).
Background of the study
Fiscal policy is instrumental in shaping domestic investment climates, particular...
Design and Implementation of IoT‐Based Smart Automated Greenhouse Irrigation in Minna LGA, Niger State
Background of the study:
Greenhouse irrigation is crucial for ensuring optimal crop growth and water conservation in agricu...
GOVERNMENTAL ACCOUNTING FOR INFRASTRUCTURE PROJECTS AND INVESTMENTS
GOVERNMENTAL ACCOUNTING FOR INFRASTRUCTURE PROJECTS AND INVESTMENTS
Abstract
This study investigates governmental accounting pr...
An appraisal of moral education's influence on students' commitment to family values in secondary schools in Makurdi LGA, Benue State
Background of the Study
Family values constitute an essential part of an individual’s moral framework, influencing personal behavio...
STANDARD PRECAUTIONS AMONG HEALTH CARE WORKERS
Abstract
History has it that anything that the hand of Midas touched turned to gold. There is power in...
An examination of the role of microfinance in supporting rural agricultural enterprises: a case study of Accord Microfinance Bank
Background of the Study
Microfinance institutions (MFIs) have emerged as key players in enhancing financial inclusion amon...
An Evaluation of Risk Management Practices on Non-Performing Loan Ratios in Banking: A Case Study of First City Monument Bank
Background of the Study
Effective risk management is paramount in maintaining a healthy loan portfolio and reducing the incidence of non-...
An Assessment of Morphological Innovation in Nigerian Digital Communication: A Comparative Analysis of Instagram Captions
Background of the study
Instagram captions in Nigeria have become a rich source of morphological innovatio...
