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Information Technology-Interoperability Issues: The Challenges of Bank Recapitalization and Consolidation

Abstract

The recent recapitalization drive of the Central Bank Nigeria (CBN) is aimed at reshaping the Banking industry where customers and investors can build some degree of confidence in the system. Out of the eighty nine (89) banks in the country' only very few of them will be able to weather the storm. Lately there has been a number of recapitalization drives through the sales of securities while some took to the option of mergers and acquisitions. However recapitalization may not be without technological hitches resulting from the integration of various infrastructures of different banks coming together. This paper attempts to review the compatibility issues using the Simple object Access Protocol (SOAP) and the XML-based (Extended Markup language) integration layer with the aim of proffering solutions at reduced cost and complexit

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