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Quantitative Research

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Submitted By lanreb
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Project Proposal.

Title

Shared Services a focus on Nigeria Financial Institutions.

Executive Summary

Shared services have been widely implemented in the public and private sectors of organizations around the world. The shared services phenomenal are spreading around the globe and financial institutions and others companies in African do not want to be left. However, with the fact that one of the basic advantages of shared services is cost saving and its leverages so much on infrastructure. Unlike Europe and America, African is still growing in the area of infrastructure and cost of labour is relatively low. This paper explores the shared service's model in financial institutions in Nigeria and reports the findings on share services meeting its objectives in developing countries.

Nigerian banks are trying to compete with their international counterparts that have a presence in Nigeria and operating in the same business, cost reduction is a major advantage. Most of the International banks like standard chartered, Citibank, and Barclays use the shared service model and since none of these international financial institutions have their head offices and major businesses in Nigeria, they operate their shared service centre in any other geography.

Keywords: Shared services; Financial Institutions; Nigeria

2. Introduction.

Shared services refers to the concentration of services to one area or group of an organization where such services are previously been provided in more than one part of the organization or group.

Thus, the funding and resourcing of the service are shared and the providing department effectively becomes an internal service provider. The key is the idea of 'sharing' within an organization or group. This method is based on attempts to achieve economies of scale. The move towards shared services began in 80s and has moved

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