ABSTRACT
Due to the high importance of Information Technology in the sector this research work is carried out to examine the impact of Information technology on the performance of commercial banks in Nigeria. Questionnaire was the major research instrument used for this research work, 60 questionnaires were administered to staff of the selected banks. The questionnaires were analyzed with the use of simple linear regression analysis with the aid of Statistical Package for Social Science (SPSS). The conclusion from the research work is that there is a positive and significant relationship between information technology and gross profit margin of banks. The findings also show that there is a positive and significant relationship between the adoption of information technology and the Earnings per share of banks. The following conclusions are drawn from the findings of the study; The adoption and implementation of information technology considerably improves the gross profit margin and earnings per share of banks. This is achieved by reducing errors and increasing the speed in attending to customers. This has the effect increasing productivity and reducing costs of service delivery. In light of the findings and conclusions of the study, the following recommendations are put forward: Banks should strive to be automated and tap into the benefits therein such as processing information at very high speed, consistency, accuracy, repetitiveness, flexibility and unattended information transfer. Bank management should encourage training and retraining her employees on the use of modern information technology equipment, as this will go a long way improving their skills and job performance.
More than most other industries, financial institutions rely on gathering, processing, analyzing, and providing information in order to meet the needs of customers. Given the importance of information in banking, it is not surprising that banks were among the earliest adopters of automated information processing technology. The technological revolution in banking actually began in the 1950s, well before it began in most other industries, when the first automated bookkeeping machines were installed at a few US banks (Roger, 2000).
Automation in banking became common over the following decade as bankers quickly realized that much of their labor-intensive, information-handling processes amongst others could be automated on the computer. A second revolution occurred in the 1970s with the advent of electronic payments technology. Recognizing the advantage and importance of information security, among all industry, the financial services industry during the late 1970s and early 1980s was also the first of all industries to implement encryption technologies on a widespread basis basis. In the earlier decades, three main reasons were identified for the cause of investment in technology.
These three main reasons still fit into the current decade. First, they anticipate reductions in operating costs through such efficiencies as the streamlining back-office processing and the elimination of error-prone manual input of data. Second, institutions see opportunities to serve their current customers and attract new customers by offering new products and services as well as enhancing the convenience and value of existing products and services. Third, with more powerful data storage and analysis technologies, institutions are able to develop and implement sophisticated risk- and information-management systems and techniques (Roger, 2000)
The Nigerian banking industry went through a consolidation exercise that left Nigeria with 25 banks out of 89 banks previously in existence. As noted by Chiemeke et al., (2006), the ability of 25 banks to satisfy and retain their customers in the post consolidation era will no doubt depend largely on the development of their Information Technology (IT) infrastructure. The senior management of banks should gasp the importance of technology and apply them in their day-to-day activities.
Woherem (2000) claimed that only banks that overhaul the whole of their payment and delivery systems and apply ICT to their operations are likely to survive and prosper in the new millennium. . He advises banks to re-examine their service and delivery systems in order to properly position them within the framework of the dictates of the dynamism of information and communication technology. IT is now a tool that facilitates the bank’s organizational structure, business strategies and customer service (Jayamaha, 2008). ............... FOR ACCESS TO THE FULL PROJECT WORK, USE THE ORDER NOW! BUTTON BELOW
INTRODUCTION
............. The Information Technology today is rightly called the Technology of the Century as it has found its application and use in every walk of life in every society of the world. Distances no longer exist and the world appears to have shrunk into a Global Village. The wisdom of the wisest is today available to the stupidest of the person thus ushering in an era of real equality of opportunity to all. It is really a landmark achievement that more than six billion population of the world will soon be living in a virtual village. Information Technology is a developing technology that aims at obtaining the maximum information with minimum of resources, labor or time.More than most other industries, financial institutions rely on gathering, processing, analyzing, and providing information in order to meet the needs of customers. Given the importance of information in banking, it is not surprising that banks were among the earliest adopters of automated information processing technology. The technological revolution in banking actually began in the 1950s, well before it began in most other industries, when the first automated bookkeeping machines were installed at a few US banks (Roger, 2000).
Automation in banking became common over the following decade as bankers quickly realized that much of their labor-intensive, information-handling processes amongst others could be automated on the computer. A second revolution occurred in the 1970s with the advent of electronic payments technology. Recognizing the advantage and importance of information security, among all industry, the financial services industry during the late 1970s and early 1980s was also the first of all industries to implement encryption technologies on a widespread basis basis. In the earlier decades, three main reasons were identified for the cause of investment in technology.
These three main reasons still fit into the current decade. First, they anticipate reductions in operating costs through such efficiencies as the streamlining back-office processing and the elimination of error-prone manual input of data. Second, institutions see opportunities to serve their current customers and attract new customers by offering new products and services as well as enhancing the convenience and value of existing products and services. Third, with more powerful data storage and analysis technologies, institutions are able to develop and implement sophisticated risk- and information-management systems and techniques (Roger, 2000)
The Nigerian banking industry went through a consolidation exercise that left Nigeria with 25 banks out of 89 banks previously in existence. As noted by Chiemeke et al., (2006), the ability of 25 banks to satisfy and retain their customers in the post consolidation era will no doubt depend largely on the development of their Information Technology (IT) infrastructure. The senior management of banks should gasp the importance of technology and apply them in their day-to-day activities.
Woherem (2000) claimed that only banks that overhaul the whole of their payment and delivery systems and apply ICT to their operations are likely to survive and prosper in the new millennium. . He advises banks to re-examine their service and delivery systems in order to properly position them within the framework of the dictates of the dynamism of information and communication technology. IT is now a tool that facilitates the bank’s organizational structure, business strategies and customer service (Jayamaha, 2008). ............... FOR ACCESS TO THE FULL PROJECT WORK, USE THE ORDER NOW! BUTTON BELOW
TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study. 1-4
1.2 Statement of Problem. 4
1.3 Objective of the Study. 5
1.4 Research Questions. 5-6
1.5 Statement of Hypothesis. 6
1.6 Significance of the Study. 6-7
1.7 Scope of the Study. 7
1.8 Limitation of the Study. 7
1.9 Operational Definition of Terms. 8-9
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction. 10
2.1 Information Technology. 10-11
2.2 Evolution of Information Technology. 11-14
2.3 The Banking Sector. 14-15
2.4 Adoption of Information Technology in the Banking Sector. 15-16
2.5 Electronic Banking. ` 16-22
2.6 Mobile Banking. 22-26
2.7 Automated Teller Machine. 26-31
2.8 Application If Information Technology in Marketing in Banks. 31-32
2.8.1 Technological Marketing. 32-33
2.8.2 Technology in Distribution Channels 33-34
2.9 Customer Relationship Management. 34-39
2.10 S.W.I.F.T. 39
2.11 Facsimile Transmission or Fax. 39-40
CHAPTER THREE: RESEARCH METHODS
3.0 Introduction. 41
3.1 Research Design. 41
3.2 Study Population. 41-42
3.3 Sampling Techniques. 42
3.4 Sources of Data Collection. 42
3.4.1 Primary Data. 42-43
3.4.2 Secondary Data. 43
3.5 Data Collection Instrument. 43
3.6 Validity and Reliability Test. 43-44
3.7 Reliability of Research Instruments. 44
3.8 Method of Data Analysis and Representation. 44
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.0 Introduction. 46
4.1 Respondent Characteristics and Classification. 47-60
4.2 Testing of Hypothesis. 60-64
CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction. 65
5.1 Summary of Findings. 65-66
5.2 Conclusion. 66-67
5.3 Recommendation. 67-68
5.4 Suggestion for Further Study. 68
Bibliography
Reference code: C061
Reference code: C061
71 Pages
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