An evaluation of the state of information technology governance in the financial services sector: A case of indigenous commercial banks in Zimbabwe (2007 - 2013)

Abstract

Information Technology has developed from just supporting business to being a business enabler. Technology has continuously transformed, bringing new opportunities and consequently fresh challenges such as increased expenditures and risks. For organizations to take advantage of the technologies and get maximum value from IT value there is need for business and IT alignment. Information Technology Governance is considered as the instrument through which businesses can exploit technology but still manage the challenges associated with the technology. Given Information Technology’s critical role in today’s businesses and its pervasiveness, attention must be afforded to the Information Technology Governance discipline.

The research evaluated the state of Information Technology Governance in twelve indigenous commercial banks of Zimbabwe. A total of 30 questionnaires consisting of 33 questions were completed and returned. A number of interviews were conducted to probe for further information. The study examined the IT governance practices that have been implemented, the effectiveness of the practices and the Information Technology Governance frameworks/standards that have been employed. A number of findings of the study revealed some shortcomings that are in the indigenous commercial banks of Zimbabwe’s Information Technology Governance implementations.