Technological Disruptions and Cybersecurity Risks (A Study of Guaranty Trust Bank in Ilorin Metropolis)

Abstract

The increasing adoption of advanced digital technologies in the Nigerian banking sector has heightened concerns over cybersecurity risks, necessitating a critical investigation into the link between technological disruptions and cybersecurity vulnerabilities. This study investigated the influence of digital banking innovation and IT infrastructure changes on cybersecurity risk in Guaranty Trust Bank Ltd, Ilorin Metropolis. The study objectives were to examine the extent to which internet/mobile banking, new tech-driven product introductions, system upgrades/overhauls, and cloud adoption influence cybersecurity risk. The study adopted a quantitative survey research design. Data were collected using a structured questionnaire administered to a sample of 96 employees drawn from a population of 124 through stratified random sampling. Data analysis was conducted using multiple regression analysis via SPSS. Findings revealed that digital banking innovation significantly influences cybersecurity risk (R² = 0.610, p < 0.05), with both internet/mobile banking and new tech-driven products contributing positively to risk levels. Similarly, IT infrastructure changes also had a significant influence (R² = 0.536, p < 0.05), with system upgrades and cloud service adoption increasing cybersecurity exposure. Based on the study findings, it was concluded that while digital transformation is essential for banking efficiency and customer experience, it must be strategically aligned with proactive cybersecurity measures. The study therefore recommendations embedding security frameworks in digital banking rollouts and IT infrastructure changes, conducting regular risk assessments, and adopting secure cloud practices to mitigate emerging threats.