An investigation of digital channel convergence on streamlining service delivery in banking: a case study of Co-operative Bank of Nigeria
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Background of the Study
Digital channel convergence refers to the integration of various digital platforms—such as online banking, mobile applications, and ATM networks—into a cohesive service delivery system. Co-operative Bank of Nigeria has undertaken initiatives to converge its digital channels to streamline operations, reduce redundancies, and enhance the overall customer experience (Oluwale, 2023). By unifying data, processes, and communication channels, the bank aims to create a seamless, omnichannel experience for customers, ensuring that services are delivered consistently across all touchpoints. This convergence facilitates efficient resource utilization and improves operational agility, enabling the bank to respond quickly to customer needs and market changes (Akinyele, 2024). The unified digital ecosystem supports improved customer engagement, fosters transparency, and boosts operational efficiency. However, challenges such as integration with legacy systems and data synchronization issues can hinder the full realization of these benefits. The convergence of digital channels is a strategic priority that positions Co-operative Bank to meet the evolving demands of the modern financial landscape.
Statement of the Problem
Despite efforts to converge digital channels, Co-operative Bank of Nigeria still faces challenges in streamlining service delivery. Integration issues between new digital platforms and legacy systems often result in data silos and inconsistent customer experiences (Chukwu, 2023). Inadequate synchronization among channels can lead to redundant processes and communication delays, undermining the efficiency gains anticipated from convergence. Additionally, varying levels of digital literacy among customers and inconsistent technology adoption across branches further complicate the convergence process. These challenges impede the bank’s ability to offer a seamless omnichannel experience, thereby affecting customer satisfaction and operational performance. Consequently, the bank’s goal of achieving efficient, unified service delivery remains partially unfulfilled.
Objectives of the Study
- To assess the impact of digital channel convergence on streamlining service delivery at Co-operative Bank of Nigeria.
- To identify integration and synchronization challenges affecting convergence.
- To recommend strategies for optimizing digital channel integration and customer experience.
Research Questions
- How does digital channel convergence affect service delivery at Co-operative Bank of Nigeria?
- What integration challenges hinder the effective convergence of digital channels?
- Which strategies can improve synchronization and operational efficiency?
Research Hypotheses
- H₁: Digital channel convergence significantly improves service delivery efficiency.
- H₂: Integration challenges negatively impact the effectiveness of channel convergence.
- H₃: Improved data synchronization enhances the customer experience.
Scope and Limitations of the Study
This study examines the digital channel convergence initiatives of Co-operative Bank of Nigeria over the past three years, using operational data, integration reports, and interviews with IT and customer service managers. Limitations include the variability in branch technology and evolving digital standards.
Definitions of Terms
- Digital Channel Convergence: The integration of multiple digital platforms to provide a unified service experience.
- Service Delivery: The process by which banking services are provided to customers.
- Omnichannel Experience: A seamless and consistent customer experience across all digital and physical touchpoints.
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