An appraisal of process re-engineering in business banking: A case study of First City Monument Bank, Abuja.
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Background of the Study
Process re-engineering has emerged as a critical strategy for revitalizing business banking operations in today’s rapidly evolving financial environment. First City Monument Bank (FCMB) in Abuja is at the forefront of this transformation, undertaking comprehensive process re-engineering initiatives to streamline operations and enhance service delivery. Process re-engineering involves the radical redesign of business processes to achieve dramatic improvements in critical measures such as cost, quality, service, and speed (Nwankwo, 2023). In an era marked by technological disruptions and heightened customer expectations, FCMB’s re-engineering efforts aim to align its operations with contemporary best practices, enabling the bank to respond agilely to market demands (Eze, 2024).
The re-engineering process at FCMB is characterized by the integration of digital platforms that automate manual processes, eliminate redundancies, and improve workflow efficiencies. By adopting innovative methodologies, the bank is able to reduce turnaround times for transactions and enhance customer satisfaction. This digital infusion has led to a more robust internal control system and streamlined communication channels, both of which are essential for maintaining a competitive edge in the business banking sector (Folarin, 2025). Furthermore, process re-engineering fosters a culture of continuous improvement by encouraging employees to challenge existing norms and adopt innovative approaches to problem-solving.
Despite the clear advantages, the process of re-engineering is not without its challenges. Implementing radical changes in established operations often encounters resistance from staff accustomed to traditional procedures. Moreover, the alignment of new digital solutions with existing operational frameworks can be complex, necessitating significant investments in training and change management (Okeke, 2023). FCMB’s experience reflects a broader industry trend where the promise of enhanced efficiency is tempered by the practical difficulties of execution. Additionally, regulatory compliance and risk management considerations impose further constraints on the re-engineering process, underscoring the need for a carefully structured approach that balances innovation with stability (Adebayo, 2024).
In summary, FCMB’s process re-engineering initiative represents a vital step toward modernizing business banking. By integrating digital technologies and redesigning core processes, the bank seeks to achieve operational excellence and improved service delivery. This study aims to appraise the effectiveness of these re-engineering efforts, explore the challenges encountered during implementation, and identify the critical success factors that drive transformational change in the banking sector (Ibrahim, 2025).
Statement of the Problem
Despite the strategic importance of process re-engineering, FCMB, Abuja, faces significant challenges in its implementation. One primary issue is the resistance to change among employees who are accustomed to longstanding procedures. This cultural inertia hinders the rapid adoption of new processes, leading to delays in realizing the anticipated efficiency gains (Ogunleye, 2023). Additionally, the integration of state-of-the-art digital tools with existing systems has proven problematic. The inherent incompatibility between new applications and legacy platforms results in data inconsistencies and workflow disruptions, thereby affecting service delivery (Uche, 2024).
Another major concern is the significant cost associated with the re-engineering process. While the long-term benefits are expected to justify the investment, the immediate financial burden coupled with operational risks poses a considerable threat to the bank’s stability. Moreover, the rapid pace of technological change means that any new system can quickly become outdated, forcing the bank to continually invest in upgrades and training (Chima, 2025). Regulatory compliance adds another layer of complexity; stringent guidelines require that any changes in process do not compromise the integrity of risk management and internal control systems.
These challenges underscore the gap between the theoretical benefits of process re-engineering and its practical implementation. Without overcoming internal resistance, technological incompatibilities, and financial constraints, FCMB may struggle to fully leverage the potential of re-engineered processes. This study, therefore, seeks to investigate these impediments, assess their impact on operational performance, and propose viable strategies for mitigating such challenges (Ijeoma, 2023).
Objectives of the Study
• To examine the effectiveness of process re-engineering initiatives in enhancing operational efficiency at FCMB, Abuja.
• To analyze the challenges associated with integrating new digital solutions with legacy systems.
• To evaluate the impact of re-engineered processes on customer service quality and risk management.
Research Questions
• How does process re-engineering influence operational efficiency in FCMB’s business banking operations?
• What are the major challenges encountered in integrating digital tools with existing systems at FCMB?
• To what extent does process re-engineering improve customer service and risk management within FCMB?
Research Hypotheses
• H1: Process re-engineering significantly improves the operational efficiency of FCMB, Abuja.
• H2: The integration of new digital systems with legacy platforms is associated with operational challenges at FCMB.
• H3: Enhanced process re-engineering leads to improved customer service quality and risk management in business banking.
Scope and Limitations of the Study
This study focuses on the process re-engineering initiatives within FCMB, Abuja, specifically within its business banking division. The research examines the interplay between digital integration, operational efficiency, and service delivery. Limitations include restricted access to internal performance data, potential bias in employee feedback, and the dynamic nature of digital innovations which may affect the replicability of the findings.
Definitions of Terms
• Process Re-engineering: The radical redesign of core business processes to achieve significant improvements in performance.
• Business Banking: Financial services provided to small, medium, and large enterprises, including transaction processing, loans, and advisory services.
• Legacy Systems: Older information technology systems that are still in use despite newer technological alternatives.
• Digital Integration: The incorporation of modern digital tools and platforms into existing business processes.
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