Data Protection Techniques and Information Management Success of Deposit Money Banks in Port Harcourt
CHAPTER ONE
Objective of the study
- To evaluate the existing data protection techniques employed by DMBs in Port Harcourt.
- To determine the effectiveness of data protection measures in safeguarding customer data and mitigating cybersecurity risks within DMBs.
- To investigate how data protection practices influence the success of information management processes.
CHAPTER TWO
REVIEWED OF RELATED LITERATURE
Information Security and Banks Profitability
In today’s business environment, information systems (ISs) are an absolute necessity in order for companies to attain strategic goals and improve organizational profitability (Jeong & Stylianou,2010). The United States (U.S.) Department of Commerce, National Institute of Standards and Technology (NIST) defines IS as a set of information resources organized for the collection, processing, maintenance, use, sharing, dissemination or disposition of information. There are costs associated with managing IS including security, storage, and retrieval therefore ongoing IS investments are required (Kendall & Kendall, 2008). Investments refer to expenditures to acquire property, equipment or other capital assets intended to produce revenue or to an investment ofeffort and time on the part of an individual who wants to reap profits from the success of his labor (Siegel & Shim, 2010).IS investments have dramatically affected the U.S. banking industry (Howell & Wei, 2010). The U.S. banking industry was one of the first to adopt Internet technologies and innovate with online brokerage, banking, and mortgage lending (Zhu, Kraemer, Xu & Dedrick, 2004). At the time of their introduction online banking services, commonly referred to as electronic or ebanking services, were primarily developed and implemented by banks to integrate older IS banking operations with newer information technologies such as the Internet in order to deliver innovative online banking services to customers (Liao & Wong, 2008). Over time information systems and technologies have transformed the structure of banking transactions and fundamentally altered the way banks conduct business since less physical money is used on a daily basis and instead, financial transactions are increasingly conducted virtually through a combination of devices ranging from e-banking servers and public and private networks to personal computers (PCs) and smart phones (Howell & Wei, 2010).Financial institutions around the globe know they must proactively work to protect customer dataand transactions as well as their own IS assets (Ifinedo, 2008).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain data protection techniques and information management success of deposit money banks in port harcourt. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing data protection techniques and information management success of deposit money banks in port harcourt
Summary
This study was on data protection techniques and information management success of deposit money banks in port harcourt. Three objectives were raised which included: To evaluate the existing data protection techniques employed by DMBs in Port Harcourt, to determine the effectiveness of data protection measures in safeguarding customer data and mitigating cybersecurity risks within DMBs and to investigate how data protection practices influence the success of information management processes. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from UBA, Port Harcourt. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
In conclusion, this study has provided valuable insights into the relationship between data protection techniques and information management success among Deposit Money Banks (DMBs) operating in Port Harcourt, Nigeria. Through a mixed-methods approach, we assessed current data protection practices, measured information management outcomes, and explored the impact of data protection on information management success.
Our findings indicate that while DMBs in Port Harcourt have implemented various data protection techniques, there are opportunities for improvement to enhance the effectiveness of information management processes. We observed correlations between robust data protection measures and positive outcomes in data governance, analytics capabilities, and decision-making frameworks within DMBs.
However, the study also identified limitations and challenges, including sample size constraints, data collection biases, and contextual specificity, which may impact the generalizability and applicability of the findings. It is essential to address these limitations and adopt a holistic approach to data protection and information management to navigate the evolving digital landscape effectively.
Recommendations:
Based on the findings of this study, the following recommendations are offered to Deposit Money Banks in Port Harcourt to enhance their data protection techniques and information management success:
- DMBs should invest in advanced data protection technologies, such as encryption, multi-factor authentication, and behavior analytics, to strengthen their cybersecurity posture and mitigate emerging threats effectively.
- Implement robust data governance frameworks that define clear roles, responsibilities, and policies for data management, ensuring the accuracy, integrity, and compliance of data throughout its lifecycle.
- Promote a culture of data security awareness and training among employees to mitigate the risks of insider threats and human errors. Provide regular training sessions on cybersecurity best practices, data handling procedures, and incident response protocols.
- Conduct regular assessments of data protection measures to identify vulnerabilities, gaps, and emerging threats. Update security measures and incident response plans accordingly to adapt to evolving cybersecurity landscape.
- Collaborate with regulatory bodies, industry partners, and cybersecurity experts to stay abreast of regulatory requirements, industry standards, and best practices in data protection and information management
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