A Study on Data Protection and Information Management in Financial Institutions in Sierra Leone

The Influence of Perceived Convenience, Perceived Benefits and Trust on Customer Decisions to Use Mobile Banking at Bank OCBC NISP Palembang
May 12, 2025
The Fluctuations of Economic Growth from Imports and Exports
May 20, 2025

A Study on Data Protection and Information Management in Financial Institutions in Sierra Leone

ABSTRACT: Data protection is ensuring sensitive data such as financial information are accessed only by authorised personnel while information management refers to a systematic process of collecting, organising, retrieving, analysing and disseminating information within or out of an organisation. This study seeks to examine the significance of data protection and information management; how it affects and contributes to the operations of a commercial bank in Sierra Leone and to provide solutions to its challenges. A well-structured and validated questionnaire was administered to 50 staff randomly selected from junior and senior categories of staff from different departments in a commercial bank. Data obtained from the field survey were analyzed and presented using statistical tools. The study revealed that data protection and information management have led to the transformation of R Commercial Bank in order to achieve its primary financial objectives. Also, the bank has encountered numerous problems that have posed a threat to data security and information management as a result of ineffective policy implementation. To address the threat of insecurity, proper measures of policy adherence had to be enforced. The researchers recommend that the R Commercial Bank should minimise the quantity of data collection, only necessary data must be collected; embark on data encryption; enforce strict data protection and information management policy and enforce strict monitoring of data usage.

Keywords:- Data Protection, Information Management, Commercial Bank, Data Security and Data encryption.

error: Content is protected !!