An assessment of technological infrastructure in investment banking: a case study of First Bank of Nigeria
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Background of the Study
Technological infrastructure underpins the efficiency and competitive edge of investment banking, influencing everything from transaction processing to risk management. First Bank of Nigeria has long been recognized for its robust legacy systems, yet, in recent years, it has embarked on a journey to modernize its technological framework. The bank is investing in high-speed networks, cloud computing, and data analytics platforms to support its investment banking operations (Akinola, 2023). This modernization effort is driven by the need to support increasingly complex financial products and to meet rising client expectations for speed and transparency. The integration of advanced IT systems facilitates real-time data processing and decision-making, thereby enhancing overall operational efficiency. Furthermore, improved technological infrastructure enables better regulatory compliance, risk assessment, and cybersecurity measures—critical components in today’s volatile financial environment (Chinwe, 2024). However, despite these investments, challenges remain regarding system interoperability, legacy system integration, and the continuous need for staff training. The study examines how First Bank’s technological infrastructure supports its investment banking activities, evaluating the impact on performance metrics such as transaction turnaround times, error rates, and cost efficiency. It also considers the strategic importance of technology in maintaining a competitive advantage in an industry where digital transformation is rapidly evolving. This comprehensive analysis is expected to provide insights into best practices and highlight areas for improvement in the bank’s technological framework.
Statement of the Problem
First Bank of Nigeria, while investing significantly in modernizing its technological infrastructure, faces persistent challenges in fully integrating new systems with existing legacy platforms. These integration issues can lead to data silos, inefficiencies in processing, and increased vulnerability to cybersecurity threats (Olayinka, 2023). Moreover, the rapid pace of technological change necessitates frequent system upgrades and ongoing staff training, which strain both financial and human resources. As a result, the expected improvements in operational efficiency and risk management are not always fully realized. These challenges are compounded by regulatory demands that require robust and secure IT systems, putting additional pressure on the bank to continuously update its technological environment. This study seeks to investigate the key obstacles affecting the technological infrastructure at First Bank, assess their impact on investment banking performance, and explore strategies to achieve a more seamless integration of new technologies.
Objectives of the Study
– To assess the current state of technological infrastructure in First Bank’s investment banking division.
– To identify challenges in integrating new digital systems with legacy platforms.
– To propose strategies for enhancing technological integration and operational efficiency.
Research Questions
– How does technological infrastructure affect operational performance at First Bank of Nigeria?
– What are the main challenges in integrating new and legacy systems?
– Which strategies can improve the overall technological framework?
Research Hypotheses
– H1: Enhanced technological infrastructure positively impacts transaction efficiency.
– H2: Integration issues between legacy and new systems negatively affect performance.
– H3: Continuous staff training and system upgrades improve overall infrastructure effectiveness.
Scope and Limitations of the Study
This study is confined to the investment banking division of First Bank of Nigeria, using internal IT reports, performance data, and staff interviews. Limitations include restricted access to proprietary system details and the rapidly evolving nature of technology.
Definitions of Terms
– Technological Infrastructure: The hardware, software, and networks that support an organization’s IT operations.
– Legacy Systems: Older computer systems that may not integrate easily with new technologies.
– Cloud Computing: The delivery of computing services over the internet.
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