State of the art filter bank structures achieve practically perfect reconstruction with very high computational efficiency. However, the increase in computational requirements due to the need to process increasingly wider band signals is paramount. New filter bank structures that provide extra information about a signal while achieving the same level of required efficiency, and perfect reconstruction properties, need to be developed. In this work a new filter bank structure, the interpolated FIR (IFIR) filter bank is developed. Such a structure combines the concepts of filter banks, and interpolated FIR filters. The filter design procedures for the IFIR filter bank are developed and explained. The resulting structure was compared with the non-maximally-decimated filter bank (NMDFB), achieving the same performance in terms of the number of multiplications required per sample and the overall distortion introduced by the system, when operating with Nyquist prototype filters. In addition, the IFIR filter is tested in both simulated and real communication environments. Performance, in terms of bit-error-rate, was found to not be degraded significantly when using the IFIR filter bank system for transmission and reception of QPSK symbols. / Master of Science