The evolution of IT business analysis in the banking industry: Key strategies for success
1 Independent Researcher, Texas, USA.
2 Independent Researcher, United Kingdom.
3 Texas A&M University-Commerce, Texas, USA.
4 Guaranty Trust Bank (Nigeria) Limited.
5 Independent Researcher, Abuja, Nigeria.
Review
International Journal of Multidisciplinary Research Updates, 2024, 08(02), 143-151.
Article DOI: 10.53430/ijmru.2024.8.2.0066
Publication history:
Received on 09 November 2024; revised on 22 December 2024; accepted on 24 December 2024
Abstract:
This review paper explores IT Business Analysis's (ITBA) evolution within the banking industry, highlighting its critical role in driving innovation, efficiency, and compliance in a highly regulated environment. The paper provides a historical overview of ITBA, examining its early adoption and subsequent evolution in response to technological advancements and industry demands. It also delves into current trends, including integrating modern tools and technologies and the role of ITBAs in digital transformation initiatives. Furthermore, the paper discusses ITBAs' challenges, such as managing legacy systems, ensuring regulatory compliance, and addressing cybersecurity threats while identifying emerging opportunities driven by big data, artificial intelligence, and fintech partnerships. The review concludes with a discussion of key strategies for success, emphasizing the essential skills, best practices, and future outlook for ITBAs in the banking sector. The insights provided in this paper are intended to guide ITBAs in navigating the complexities of the banking industry and leveraging technological advancements to drive business success.
Keywords:
Business Analysis; Banking Industry; Digital Transformation; Regulatory Compliance; Artificial Intelligence
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0