An Investigation Of Current Status Of It Disaster Recovery Plan In Ethiopian Banking Sector
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Date
2017-10-08
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Addis Ababa University
Abstract
In present time, many financial institutions are quickly introducing Information Technology (IT) with a desire to perform their activity efficiently and satisfy the demands that their respective customers. Banks are of these institutions in Ethiopia, which are relying heavily on expanding and introducing IT services for their customers, especially to perform online money transactions. These initiatives and operational progresses are however being hindered by a number of catastrophic situations (possibly natural and manmade disasters), which are of perilous and even causing damage for huge data loss in the institutions. It is in line with this fact that many researches recommended that banks, as financial institutions using computers to fasten their operations and services, must introduce keenly IT Disaster Recovery Planning (ITDRP) to ensure their services and reduce any possible risks and data mutilation and disruption in computers. However, this concern has been inadequately investigated, as there is no particular research dealt with in this regard across all the banking sectors in Ethiopia. The objective of this study was thus to examine the current status of ITDRP in banking sector located in Addis Ababa City. To this end, the study methodologically used a mixed research design. A total of nineteen respondents were used to respond the questionnaires from the nineteen banks of Ethiopia, which contained both close-ended and open-ended questions. Technically, the respondents were selected through purposive sampling. The quantitative data findings were analyzed through SPSS a computer software program, version 20; whereas, the qualitative findings were through a simple thematic analysis approach. Accordingly, the study found that 42.1% (8) of the banks implemented ITDRP in place; whereas 57.9% (11) of the banks didn’t put it to work so far, but they are under progress status. However, 42.1% (8) of banks who have the plan in place are still supposed their plan is not real as it needs major technical improvements to meet its intended purpose. According the findings of this research, the researcher concluded that ITDRP is not exercising well at Ethiopian banks due to less emphasis given to it from the top managers and inexperienced of sever disaster strike heretofore. Even though the study has its own limitation, the findings allow us to provide practical implication, recommendation for the banking sector and directions for future works.
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Keywords
Information Technology (IT), Ethiopian banks, IT Disaster Recovery Plan (ITDRP)