Business Process Reengineering (BPR) In the Financial Services Sector: A Case Study of Ghana Commercial Bank (GCB) Limited

With more and more banks entering the Ghanaian financial sector due to the stable political and macroeconomic environment there has been the need for banks and other financial institutions in the financial services sector to come up with new products, services and processes in order to stay afloat. Increased competition and sophistication of customers require that banks rethink and design processes, procedures, products and services that are cost efficient and effective with the aid of technology to remain competitive and profitable. Employing a descriptive research design methodology with the use of structured questionnaires one hundred and eighty (180) staffs of Ghana Commercial Bank Limited were sampled. Out of this number 48 % were females and 52 % being males to find out the impact of Information Technology and Human resources in a reengineering process. The study found out that the bank had increased investment in IT which lead to increased operating incomes. However the bank did not fully realize the benefits desired, as staff were not fully involved due to communication barriers even though management (leadership) was fully committed to the BPR process