Theoretical insights into IT governance and compliance in banking: Perspectives from African and U.S. regulatory environments

Authors

  • Godwin Nzeako Independent Researcher, Finland
  • Michael Oladipo Akinsanya Independent Researcher, Frisco, Texas, USA
  • Oladapo Adeboye Popoola Business Full Spectrum, UK
  • Excel G Chukwurah Governance and Protected Data Organization, Google LLC, USA
  • Chukwuekem David Okeke Tranter IT Infrastructure Services Limited, Nigeria
  • Ijeoma Scholastica Akpukorji Nicedge Service Limited, Nigeria

DOI:

https://doi.org/10.51594/ijmer.v6i5.1094

Abstract

This review paper provides a comprehensive comparative analysis of IT governance and compliance within the banking sectors of Africa and the U.S., highlighting the intricacies of navigating diverse regulatory environments. Through examining governance strategies, compliance mechanisms, and best practices, the paper underscores the adaptation of frameworks like COBIT, ISO/IEC 27001, and ITIL to meet regional regulatory demands and operational challenges. Key insights reveal significant differences in regulatory landscapes, technological maturity, and cybersecurity and risk management approaches. The analysis identifies best practices and lessons that can be leveraged globally, suggesting areas for future research including emerging technologies and the impact of global regulations. This work aims to enhance understanding of IT governance and compliance, offering valuable perspectives for banks, regulators, and policymakers.

Keywords:  IT Governance, Compliance, Banking Sector, Regulatory Environment, Cybersecurity, Emerging Technologies.

Published

2024-05-04

Issue

Section

Articles