An assessment of cybersecurity frameworks in business banking: A case study of United Bank for Africa, Lagos
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Background of the Study
Cybersecurity frameworks are critical for protecting sensitive financial information and ensuring the integrity of business banking operations. United Bank for Africa (UBA) in Lagos has implemented comprehensive cybersecurity measures to safeguard its digital platforms and data assets. These frameworks encompass multi-factor authentication, encryption protocols, continuous network monitoring, and incident response strategies that collectively mitigate cyber risks. The bank’s proactive approach to cybersecurity ensures that business banking transactions are secure, thereby fostering trust among corporate clients (Adenola, 2023; Oluwaseun, 2024). With cyber threats evolving rapidly, UBA continuously updates its security protocols to address emerging risks and comply with regulatory requirements. However, challenges such as integration with legacy systems, high implementation costs, and the increasing sophistication of cyber attacks remain prevalent. This study evaluates the effectiveness of UBA’s cybersecurity frameworks in business banking, examining their impact on service quality, risk management, and customer trust.
Statement of the Problem
Despite robust cybersecurity measures, UBA faces significant challenges in ensuring comprehensive protection across its business banking operations. Integration issues between modern cybersecurity solutions and existing legacy systems often result in vulnerabilities and gaps in protection. The high cost of implementing advanced security protocols, coupled with the need for continuous updates and staff training, further complicates the maintenance of a robust cybersecurity framework. Additionally, the evolving nature of cyber threats, such as ransomware and phishing attacks, requires constant vigilance, which can strain resources and impact operational efficiency. These challenges undermine the bank’s ability to maintain secure transactions and protect sensitive customer data, ultimately affecting trust and compliance. Addressing these issues is critical to ensuring that UBA’s cybersecurity frameworks remain effective in the face of rapidly evolving threats (Adenola, 2023; Oluwaseun, 2024; Chukwu, 2025).
Objectives of the Study
- To evaluate the effectiveness of UBA’s cybersecurity frameworks in business banking.
- To identify challenges related to system integration, cost, and evolving cyber threats.
- To recommend strategies for enhancing cybersecurity measures and protecting customer data.
Research Questions
- How effective are UBA’s cybersecurity frameworks in safeguarding business banking transactions?
- What challenges affect the integration and maintenance of these security measures?
- What improvements can be made to enhance cybersecurity in business banking?
Research Hypotheses
- H₁: Robust cybersecurity frameworks significantly reduce the incidence of cyber attacks in business banking.
- H₂: Integration challenges with legacy systems negatively impact cybersecurity effectiveness.
- H₃: Continuous investment in cybersecurity training improves overall data protection.
Scope and Limitations of the Study
The study focuses on UBA’s business banking division in Lagos, examining cybersecurity frameworks over recent years. Limitations include rapidly evolving cyber threats and potential access restrictions to proprietary security data.
Definitions of Terms
- Cybersecurity Frameworks: Structured protocols and technologies used to protect digital systems.
- Business Banking Transactions: Financial operations conducted for corporate clients.
- Encryption Protocols: Methods used to secure data by converting it into a coded format.
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