Digital Transformation of Supply Chain Operations in the Retail Banking Sector: Lessons from First Bank and GTBank Nigeria

This study examines the digital transformation of supply chain operations in the retail banking sector, drawing lessons from First Bank Nigeria and Guaranty Trust Bank's procurement and logistics digitalisation initiatives. As banks modernise operations to remain competitive and regulatory-compliant, supply chain functions including vendor management, asset procurement, facility logistics, and document management are increasingly being migrated to digital platforms. Using a qualitative case study design supplemented by structured surveys, data were collected from 50 supply chain, technology, and operations executives across both institutions' head office locations in Lagos. The study examines the scope and pace of digital transformation, key platforms deployed, workforce capability development, and realised operational benefits including cost savings and processing speed improvements. Digital transformation maturity is assessed using an adapted supply chain digitalisation readiness framework. Operational outcomes are measured through procurement cycle time reduction, vendor onboarding speed, and contract compliance rates pre- and post-transformation. Thematic and comparative analysis are applied. The study draws on digital supply chain transformation literature and banking sector operational research published in the last five years. Findings are expected to reveal that both banks have achieved meaningful digitalisation in vendor management and procurement, though integration between legacy core banking systems and new supply chain platforms remains a constraint. Recommendations are addressed to banking sector COOs, fintech solution providers, and the Central Bank of Nigeria on scaling supply chain digitalisation. Keywords: digital transformation, supply chain, retail banking, First Bank, GTBank Nigeria.