An evaluation of digital transformation strategies in corporate banking: A case study of Guaranty Trust Bank, Abuja
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Background of the Study
Digital transformation strategies have become essential for corporate banks seeking to maintain competitiveness and enhance operational efficiency. Guaranty Trust Bank (GTBank) in Abuja has implemented a comprehensive digital transformation agenda, incorporating advanced technologies such as cloud computing, big data analytics, and artificial intelligence. These strategies enable GTBank to streamline core operations, improve customer engagement, and deliver innovative financial products tailored to corporate clients’ needs. Digital transformation has led to significant improvements in process automation, risk management, and service personalization, which collectively enhance corporate banking performance (Oluwaseun, 2023; Adenola, 2024). The bank’s transformation efforts include updating legacy systems, investing in digital skills training, and developing integrated digital platforms that support real-time data analytics and decision-making. However, the rapid pace of technological change, coupled with high implementation costs and integration challenges, poses risks to achieving the desired outcomes. This study examines the digital transformation strategies employed by GTBank, evaluating their effectiveness and identifying areas for further refinement to ensure sustainable growth in corporate banking.
Statement of the Problem
Guaranty Trust Bank faces several obstacles in executing its digital transformation strategy effectively. One major challenge is integrating new digital systems with existing legacy infrastructure, which often leads to operational disruptions and data inconsistencies. High implementation costs and the need for continuous technology upgrades further strain resources, while inadequate training among staff limits the effective utilization of new systems. Additionally, regulatory uncertainties and competitive pressures complicate the transformation process, potentially delaying the realization of expected benefits. These issues reduce the overall effectiveness of digital transformation efforts, hindering the bank’s ability to improve service delivery, risk management, and customer engagement in its corporate banking division. Addressing these challenges is critical to ensure that digital transformation translates into tangible improvements in operational efficiency and market competitiveness (Oluwaseun, 2023; Adenola, 2024; Chukwu, 2025).
Objectives of the Study
- To assess the effectiveness of digital transformation strategies at GTBank’s corporate banking division.
- To identify challenges related to system integration, cost, and employee training.
- To recommend measures for optimizing digital transformation for enhanced performance.
Research Questions
- How effective are current digital transformation strategies in corporate banking at GTBank?
- What challenges hinder the seamless integration of digital systems with legacy infrastructure?
- What strategies can enhance the success of digital transformation initiatives?
Research Hypotheses
- H₁: Digital transformation significantly improves operational efficiency in corporate banking.
- H₂: Integration challenges with legacy systems negatively affect digital transformation outcomes.
- H₃: Enhanced training and investment in digital infrastructure improve transformation effectiveness.
Scope and Limitations of the Study
The study focuses on GTBank’s corporate banking division in Abuja, evaluating digital transformation initiatives over recent fiscal years. Limitations include evolving technology standards and restricted access to internal transformation metrics.
Definitions of Terms
- Digital Transformation: The integration of digital technologies to fundamentally change business operations.
- Corporate Banking: Financial services provided to large enterprises.
- Legacy Infrastructure: Outdated systems that may hinder the integration of modern digital solutions.
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