The impact of digital innovation on investment banking competitiveness: a case study of Sterling Bank.
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Background of the Study
Digital innovation has become a cornerstone for maintaining competitiveness in investment banking. Sterling Bank has embraced a suite of digital technologies—including AI-powered trading systems, blockchain for secure settlements, and advanced analytics for market forecasting—to strengthen its competitive position (Olayinka, 2023). These innovations enable the bank to execute transactions more efficiently, optimize risk management, and deliver tailored financial products to a diverse clientele (Ibrahim, 2024).
By integrating digital tools into its core operations, Sterling Bank has enhanced its operational agility and responsiveness to market trends, thereby gaining a strategic edge over competitors. The implementation of real-time data analytics and automated decision-making processes has reduced processing times and minimized human error. However, challenges persist in fully harnessing digital innovation due to integration issues with legacy systems, high implementation costs, and cybersecurity concerns (Adeleke, 2025).
This study examines how digital innovation contributes to investment banking competitiveness at Sterling Bank, evaluating its impact on operational efficiency, customer satisfaction, and overall market positioning. It also identifies the obstacles that hinder the full realization of digital benefits and proposes strategic measures to enhance competitive performance in a fast-evolving digital landscape.
Statement of the Problem
Despite significant investments in digital innovation, Sterling Bank faces several challenges that limit its competitive advantage. A key problem is the difficulty of integrating state-of-the-art digital systems with established legacy infrastructures, leading to operational inefficiencies and delayed decision-making (Chinwe, 2023). Additionally, high costs associated with continuous technological upgrades and cybersecurity risks create further barriers to innovation. These challenges can result in inconsistent service delivery and diminished customer confidence, ultimately undermining the bank’s competitive position (Ogunleye, 2024).
Moreover, resistance to change within the organization and inadequate training among staff may slow down the adoption of new technologies, creating a gap between the potential and actual benefits of digital innovation. Such issues prevent Sterling Bank from fully leveraging digital tools to improve market responsiveness and operational efficiency, thereby affecting overall competitiveness in the investment banking sector (Ibrahim, 2024).
Objectives of the Study
• To evaluate the impact of digital innovation on the competitiveness of Sterling Bank’s investment banking operations.
• To identify integration and cost challenges that hinder the effective adoption of digital technologies.
• To propose strategies for improving digital innovation and enhancing market competitiveness.
Research Questions
• How does digital innovation affect operational efficiency and customer satisfaction at Sterling Bank?
• What integration and cost challenges impede the effective use of digital technologies?
• What measures can enhance digital innovation and competitive performance?
Research Hypotheses
• H1: Digital innovation significantly enhances investment banking competitiveness.
• H2: Integration challenges and high costs negatively impact the effectiveness of digital innovation.
• H3: Enhanced training and cybersecurity measures are positively correlated with improved competitive performance.
Scope and Limitations of the Study
This study focuses on the investment banking division of Sterling Bank. Limitations include restricted access to proprietary innovation data and the evolving nature of digital technologies.
Definitions of Terms
• Digital Innovation: The adoption of new digital technologies to improve business processes and competitiveness.
• Investment Banking Competitiveness: The ability of an investment bank to maintain and grow its market share and profitability.
• Legacy Systems: Older IT infrastructures that may impede the integration of modern digital solutions.
• Cybersecurity: Measures implemented to protect digital systems and data from threats.
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